Positive global cues helped Nifty close at 19979, up 0.74% or 146 points. Meanwhile, broader markets, too, continued to rally and saw another fresh high. Sector-wise, IT and consumer durable pack turned out to be laggards, while all others ended in the green with pharma, FMCG and private bank index clocking the maximum gains of over 1% each.
“Nifty has been finding support on its 5 day EMA, which is currently placed at 19778. Resistance for the Nifty is seen at 20055, which happens to be a 78.6% Fibonacci extension levels considering the previous major swings,” said Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities, said.
Here are the stock recommendations for Friday:
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