Trading Guide: Tata Chemicals, REC among 6 stock recommendations for Monday – Stock Ideas
Indian benchmark indices closed on a bearish note on the last trading day of 2022 owing to weak global cues, fag-end selling in select banking, IT and capital goods shares. BSE Sensex dropped 293 points to close at 60,840 on Friday, while broader NSE Nifty settled 86 points lower at 18,105.30. The broader markets ended on a positive note.
The key indices, however, posted annual gains of over 4% in 2022 to emerge as the world’s best-performing large market indices.
The BSE barometer closed 2022 with an annual gain of 2,586.92 points while the Nifty ended the year higher by 751.25 points.
“Following Thursday’s rally, Nifty failed to provide positive follow-up action. Overall, Nifty rallied 1.7% this week. However, it remained beneath the peak of the prior week. Sustenance above 18,200 is essential to revisit levels of 18,400 on the upside, while on the flip side, levels of 17,900-17,800 are likely to act as immediate support. Stock-specific rally within the financial space is possible. Also, selected chemical and fertilizers stocks rebounded off the key support zone,” said Amit Trivedi, CMT, Technical Analyst – Institutional Equities, Yes Securities.
Here are 4 stock recommendations for Monday
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