Market Trading Guide: Federal Bank, Inox Green among 4 stock recommendations for Thursday

Unable to sustain the gains made over the last two sessions, the Indian benchmark indices fell today to end near their respective day’s lows, dragged down by banking and pharma stocks. While the Nifty50 index closed the day lower at 24,340.85, down by 0.51% or 126 points, the 30-stock S&P BSE Sensex closed the day after falling by 0.53% or 426.85 points at 79,942.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities called today's session volatile as the Nifty traded in the 200-point range. Nifty remained volatile throughout the day, trading within a range of 24,300 to 24,500 and sentiments may stay sideways as long as Nifty remains within this range, he said.24,500. “On the hourly chart, Nifty encountered resistance around the 50 EMA, leading to a correction towards 24,300. A decisive breakout from this range is likely to give direction to Nifty. On the lower end, supports are placed at 24,250 and 24,000, while resistances are seen at 24,500 and 24,750," De said.Here are 5 stock recommendations for Thursday: Stock Ideas