Market Trading Guide: HUL, Suzlon among 4 stock recommendations for Wednesday – Stock Ideas
In the biggest single-day fall in four years, benchmark stock indices Sensex and Nifty plunged by nearly 6% on Tuesday as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls.
Reversing its Monday’s sharp gains of over 3%, the 30-share BSE Sensex nosedived 4,389.73 points to close at a more than two-month low of 72,079.05. The NSE Nifty ended at 21,884.50, a sharp decline of 1,379.40 points.
“The short-term trend of Nifty is highly volatile with a negative bias. Immediate support is placed for Nifty around 21,250 levels (20 day EMA). Once election result volatility settles down, the market could find direction for the near term. There is a possibility of an upside bounce in the Nifty from near 21,250-21,000 levels,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Here are 4 stock recommendations for Wednesday:
