Indian benchmark indices ended their four-session losing streak on Thursday aided by strong buying action in IT stocks that rallied on the rupee’s decline. The index mostly remained below the 21 EMA on the hourly chart, reflecting sustained selling pressure during the session.Based on the current trends, Rupak De, Senior Technical Analyst at LKP Securities expects the markets to remain choppy when trading resumes on Friday. He expects trading to happen in a narrow range until the RBI MPC announcements and does not rule out a volatile trade once the outcomes become public. "Technically, the 26,100–26,150 zone is expected to act as crucial resistance, while support is placed at 25,900–25,950. A fall below 26,000 may trigger a quick correction towards 25,950–25,900, as the chart setup appears weak on the hourly timeframe," De said. Here are 2 stock recommendations for Friday: Stock Ideas

Market Trading Guide: Buy Cigniti Technologies and Hindustan Copper on Friday for up to 7% gains

Indian Benchmark Indices End Four-Sessions Losing Streak

Indian benchmark indices ended their four-session losing streak on Thursday, aided by strong buying action in IT stocks that rallied on the rupee's decline. The index mostly remained below the 21 EMA on the hourly chart, reflecting sustained selling pressure during the session.

Market Expert Predictions for Friday

Based on the current trends, Rupak De, Senior Technical Analyst at LKP Securities expects the markets to remain choppy when trading resumes on Friday. He expects trading to happen in a narrow range until the RBI MPC announcements and does not rule out a volatile trade once the outcomes become public.

Key Resistance and Support Zones

Resistance Zone: 26,100–26,150
Support Zone: 25,900–25,950

Stock Recommendations for Friday

Stock 1: Strong Rounding-Bottom Pattern Breakout

Stop Loss: Rs 1,835
Target: Rs 2,035

This stock has given a strong rounding-bottom pattern breakout supported by rising volume, signalling a solid bullish shift. It is trading firmly above all major EMAs, specifically 20, 50, 100, and 200 — which confirms the strength of the uptrend. The RSI stands at an impressive 71.85 and remains above the 14-day RSI average of 62.89, indicating powerful momentum. With the price structure forming higher highs and higher lows, the stock clearly continues to move in a well-defined uptrend.

— Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio

Stock 2: Strong Consolidation-Range Breakout

Stop Loss: Rs 355
Target: Rs 387.25

This stock has given a strong consolidation-range breakout, clearing an important resistance zone with massive volume — a powerful sign of buyer dominance. It is trading well above all major EMAs (20, 50, 100, and 200), indicating robust bullish strength in both the short-term and long-term trend. The RSI stands at 66.51 and remains above the 14-day RSI average of 49.9, confirming supportive momentum and signalling a continuation of the bullish move.

— Drumil Vithlani, Technical Research Analyst, Bonanza Portfolio

Disclaimer

Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.