Indian shares snapped a four-day winning streak on Thursday, weighed by auto and consumer stocks after the Reserve Bank of India pushed bets of a rate cut further ahead, with inflation seen to be staying above its target. The blue-chip Nifty 50 index closed 0.49% lower at 18,634.55, while the benchmark S&P BSE Sensex fell 0.47% to 62,848.64.
“Appearance of bearish candle ensures immediate hurdle near 18800 zone, while sustenance below for the same could again lead consolidation with immediate support seen at 18500. The ideal approach remains to focus on stocks specific action,” Amit Trivedi, CMT, Technical Analyst – Institutional Equities, YES SECURITIES, said.
Here are stock recommendations for Friday:
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