Day Trading Guide: SBI Life among 4 stock recommendations for Friday – Stock Ideas

Benchmark indices ended on a flat note on Thursday amid weak global cues. The BSE benchmark Sensex slipped 8.03 points or 0.02 per cent to settle at 53,018.94, and the Nifty fell 18.85 points or 0.12 per cent to 15,780.25.

“Nifty continued its sideways consolidation. The index fell for the third straight month and travelled south during the first half of June, while recovery thereafter ensured important support near 15,200. Nifty’s recent consolidation needs a decisive breakthrough above 15,900 to attempt the 16,150 zone. A mixed trend among the sectoral indices is possible. Stocks specific rally within FMCG space is possible,” said Amit Trivedi, CMT, Technical Analyst – Institutional Equities, Yes Securities.

On the daily chart of Nifty50, we are witnessing a ‘Death Crossover’ of the 50-day moving average and the 200-day moving average, said Mehul Kothari – AVP, Technical Research, Anand Rathi Shares & Stock Brokers. Thus till the time that is not negated, the markets are likely to remain under pressure on every rise, he added.

Below are key stock recommendations for Wednesday.