Market Trading Guide: JK Cement, Pfizer among stock recommendations for Wednesday

Indian frontline indices broke their two-sessions losing streak on Tuesday after assurances poured-in from various quarters including the government that the Human Metapneumovirus (HMPV) was not lethal and unlike the Covid-19 virus.Banks and energy stocks helped the markets sail through. While the S&P BSE Sensex settled at 78,199.11, up by 234.12 points or 0.30%, the broader Nifty closed at 23,707.90, higher by 91.85 points or 0.39%.Commenting on the day's action, Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan said that he sees Nifty consolidating within the range of the previous trading session on the daily charts. It is making the extremes of the penultimate candle, crucial levels to watch out for in the short term i.e. 24,100 – 23,550. "We expect the Nifty to consolidate between these extremes for the next few trading sessions. Sector rotation and stock specific action are likely during this phase. Daily and hourly momentum indicators suggest a pullback as they have a positive crossover. Immediate hurdle on the upside is 23,950 – 24,000 while support is placed at 23,550 – 23,500," Gedia said.Here are 4 stock recommendations for Wednesday: Stock Ideas