Indian benchmark indices resumed their winning momentum on Tuesday after a Monday pause led by strong buying action in auto, IT and bank stocks. It has given a double bottom breakout on the daily timeframe, indicating rising optimism.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty has been sustaining above the 21EMA, confirming a continuation of the uptrend. “Additionally, the RSI has moved above its previous swing high, further supporting bullish momentum. In the short term, the trend is likely to remain strong, with potential upside towards 25,500 and beyond. On the downside, support is placed at 25,000, and a break below this level could signal the end of the current rally,” De said.
Here are 4 stock recommendations for Wednesday:
