Market Trading Guide: LTIMindtree, Tata Motors are among 5 stock recommendations for Monday

Indian markets rebounded with a gusto on Friday helped by buying trends across sectors with IT and bank heavyweights along with Reliance Industries (RIL) simultaneously throwing their weights around. While the S&P BSE Sensex settled at 79,117.11, up by 1961.32 points or 2.54%, the broader Nifty closed at 23,907.25, higher by 557.35 points or 2.39%. Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty is back to its 200-DMA after a strong Friday recovery, indicating an improving trend. Additionally, the 50-stock index has broken out of a few days of congestion on the daily timeframe, he said. "The RSI has entered a bullish crossover near the oversold zone, suggesting positive momentum. The sentiment appears favorable for a meaningful rally in the short term, as long as the index stays above 23,600. Immediate resistance is seen at 23,960–24,000. A decisive move above 24,000 could trigger a rally toward 24,500. On the downside, supports are placed at 23,750 and 23,550," De said.Here are 5 stock recommendations for Monday: Stock Ideas