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The Nifty50 index inched higher to register a record high of 15,800 mark on Wednesday, a day after recovering from lower levels. However, the index's inability to sustain at higher levels pulled it sharply lower to 15,567. Nifty50 engulfed the range seen in the previous four sessions, but managed to protect the 15,600 mark on a closing basis. Mild consolidation within the range of 15,550-15,750 is plausible.
A mild throwback from the record high is visible in the Nifty IT index, while the Nifty Auto barometer has snapped a three-session winning streak. Bank Nifty has lost around 1,200 points from its recent high. A mild recovery is possible in Bank Nifty towards the 35,200-35,500 zone.
Stock recommendation
- Buy GSFC near Rs 116.50 for a target of Rs 127 with a stop loss at Rs 112
- Buy Zensar Technologies near Rs 310 for a target of Rs 340 with a stop loss at Rs 295
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Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price