Market Trading Guide: MandM, RBL Bank are among 5 stock recommendations for Friday

Indian frontline indices ended in the red for the second session in a row as rupee's losses against the US dollar mounted and foreign investment continued its exodus from the domestic markets. IT, energy and bank stocks were among major spoilers. While the S&P BSE Sensex settled at 77,620.21, down by 528.28 points or 0.68%, the broader Nifty closed at 23,526.50, lower by 162.45 points or 0.69%.Commenting on the day's action, Vatsal Bhuva, Technical Analyst at LKP Securities signalled caution as Nifty's candlestick below the 200-day EMA shows a bearish trend. "The Nifty index closed slightly above its critical support at 23,500 on Thursday. A follow-up breach below 23,500 would validate a sell-on-rise strategy, with further downside expected. Conversely, holding this support may lead to consolidation. For the short term, 23500 acts as a key support, while resistance is placed at 23800, capping any upside. Traders should monitor these levels closely, as they will dictate the index's immediate directional trend," he said.Here are 5 stock recommendations for Friday: Stock Ideas