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The domestic markets witnessed a shocking trading session ahead of the US Fed outcome. A sudden hike in repo rate and CRR by the RBI spooked the markets and as a result, we saw a selloff in the benchmark indices.

“The Nifty breached its critical support of 16,800, held since many sessions. As a result, there was an extended fall towards the 16,600 mark. In the coming session, a breach of 16,600 might force the index to test the 16,200 mark, which is the 78.6% retracement of the previous move,” said Mehul Kothari, AVP – Technical Research, Anand Rathi Shares & Stock Brokers.

“Any negative trigger from the US Fed would help the bears to reach those lower levels. On the other hand, 16,800 – 17,000 would be strong resistance for the coming session.”

Below are key stock recommendations for Thursday.

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