Amid weak trends in global stocks and continued outflows of foreign funds, the BSE Sensex fell 502 points to 58,909.35. The broader Nifty pair ended below 17350 levels, down 0.74%
“On the hourly charts, we can see that the rise from the lows of 17,255 has been impulsive in nature, indicating a short-term bottoming has been made and this decline is a retracement of that rise. It is trading at the crucial 17,336 – 17,300 Fibonacci support zone, which is the 61.82% retracement level (17,336) and the 78.6% retracement level (17,300), respectively, and we expect for the Nifty to hold on to this support and resume its next leg of upward movement,” said Jatin Gedia, technical research analyst, Sharekhan at BNP Paribas.
Here are stock recommendations for Friday
