Stock Ideas

Indian headline indices ended in the green on Thursday, recording their second successive positive closing. The uptick was on the back of a buying action in auto and IT stocks. While the S&P BSE Sensex settled at 76,520.38, up by 115.39 points or 0.15%, the broader Nifty closed at 23,205.35, higher by 50 points or 0.22%.

Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the sessions remain muted with the Nifty index showing limited movement notwithstanding a positive start. "It failed to break above the 50 EMA on the hourly chart, indicating selling pressure at higher levels. The bearish trend is likely to persist as long as the index stays below 23,400. On the downside, support levels are observed at 23,150 and 23,000," De said.
Here are 2 stock recommendations for Friday: