Indian benchmark indices ended in the red on Thursday dragged by auto, IT and metal bank stocks. While Nifty closed at 22,397.20, down by 73.30 points or 0.33%, the BSE Sensex closed in the red at 73,828.91, declining by 200.85 points or 0.27%.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the Nifty has been forming a symmetrical triangle pattern on the hourly chart, which is a continuation pattern. For the past three days, Nifty has largely remained within the range of 22,350–22,550, he added. “A decisive move above 22,550 could trigger a meaningful rally in the short term. Conversely, a decisive fall below 22,350 could weaken sentiment in the short term,” De said.
Here are 2 stock recommendations for Monday:
