After three straight classes of losses, Indian headline indices rebounded on strong demand in auto, IT, and metallic shares, aided by energy in banks. The index witnessed a big restoration from negativity because the Nifty reversed momentum following an inverted hammer sample.
Commenting on the day’s motion, Rupak De, Senior Technical Analyst at LKP Securities stated that on the hourly RSI, a hidden optimistic divergence is seen although a promote on rise sentiment is prevalent, so long as the index stays under 24,850. “Solely a decisive transfer past 24,850 would possibly induce a rally in direction of 25,250/25,500. On the decrease finish, assist is positioned at 24,500,” De stated.
Listed here are 5 inventory suggestions for Tuesday:
