​Trading Guide: SBI, Tata Power among 8 stock recommendations for Friday – ​Stock Recommendations

Equity benchmark indices Sensex and Nifty scaled fresh record high levels on Thursday, driven by unabated foreign capital inflows and intense buying in banking and FMCG stocks. The 30-share BSE Sensex jumped 475 points to settle at its fresh all-time closing high of 67,572.

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: