Market Trading Guide: Coforge, Deepak Fertilizers are stock recommendations for Friday

Indian benchmark equity indices Nifty50 and S&P BSE Sensex fell sharply on Thursday, closing over 2% lower amid a host of factors including an escalating Middle East conflict. While the former tumbled by 547 points to close at 25,250, the latter finished at 82,497, down by 1,769 points."Nifty opened gap down and post a minor recovery it continued to drift lower to close deep in the red, down by 540 points. On the daily charts we can observe that Nifty has closed below the key 20-day moving average of 25,508 which is a sign of weakness. The daily momentum indicator has a negative crossover which is a sell signal. Thus, both price and momentum indicator suggest that the weakness is likely to continue," Jatin Gedia, Technical Research Analyst at Sharekhan saidSince the earlier target at 25,500 was hit downward, today, the next level is estimated at 24,800, this analyst said, while putting the upside at 25,600–25,550 from a short term perspective.Here are 2 stock recommendations for Friday: Stock Ideas