Market Trading Guide: Infosys, Muthoot Finance are among 5 stock recommendations for Tuesday

Indian headline indices ended in the red for the seventh straight session on Monday amid volatility. The declines were on the back of significant selling pressure in IT stocks after the Federal Reserve Chair Jerome Powell indicated that strong US economic growth would delay interest rate cuts. While the S&P BSE Sensex fell 241 points or 0.31% to close at 77,339, the broader Nifty slid 79 points or 0.34% to finish at 23,453.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty slipped near a historical congestion level on the daily timeframe, exhibiting some volatility during the day. While he sees the overall chart setup remaining weak, the selling pressure appears to have eased following a prolonged correction in his view. "On the daily chart, the index has been trading below the 200-day moving average (DMA) for the past two sessions. The RSI has entered the oversold zone, accompanied by a bearish crossover. In the short term, the index may recover towards 23,700–23,800. On the downside, support is positioned at 23,200–23,300," De saidHere are 5 stock recommendations for Tuesday: Stock Ideas