stock: Market Trading Guide: ITC among 4 stock recommendations for Tuesday – Market Trading Guide: ITC among 4 stock recommendations for Monday

On Friday, the 30-share pack Sensex advanced 130.18 points to close at 59,462.78. Its broader peer, Nifty50, added 39.15 points to close above near the 17,700 mark. The benchmark rose 1.5 per cent this week.

“The domestic markets maintained their northward journey during the week and closed in the green for the fourth consecutive week. The index Nifyt spot reclaimed the 17,700 mark after April 2022. The sentiment remained upbeat mainly on the back of positive global cues. The recovery in the US markets along with FIIs becoming buyers in the cash segment forced the bulls to dominate yet again,” said Mehul Kothari – AVP, Technical Research, Anand Rathi Shares & Stock Brokers.

“For the coming week, 17800-17900 would be an important zone to watch out for. This is mainly because we have a falling trend line near the 17800 mark. In addition,17800- 17900 is the potential reversal zone for the bearish harmonic shark pattern in Nifty. Thus, if bulls fail to clear the stated zone then there is a possibility of profit booking in the coming week and that would be healthy for the markets. On the downside, the immediate support is at the 17550 mark. A daily close below the same might bring in profit booking and that might drag the index towards the 17200 mark. Thus the prudent strategy can be to avoid fresh longs in the index and remain stock specific,” he said.

Here are the top four stock recommendations which analysts suggest: