Stocks in focus: Bharti Airtel, Maruti Suzuki, Laurus Labs, Vedanta, Tech Mahindra
SGX Nifty was up in green on Friday morning, hinting at a positive start for Sensex and Nifty who have been tumbling down for five consecutive sessions now. Wall Street equity indices closed with gains after a sharp rebound on Thursday, sending positive global cues. On the charts, a small positive candle was formed with gap down opening with upper and lower shadow, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “Normally, a formation of such pattern after a reasonable decline or at the swing low could be a part of bullish reversal pattern after the confirmation. Hence, there is a possibility of an upside bounce from the lows,” he added. Analysts caution to go stock specific as the near term trend remains negative.
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