Market Trading Guide: RIL, Bajaj Finserv are among 5 stock recommendations for Thursday

Indian frontline indices recovered from the day’s lows to end Wednesday’s trading session with minor declines. Major spoilers were banks, auto and FMCG stocks though IT and energy stocks threw their weights around. While the S&P BSE Sensex settled at 78,148.49, down by 50.62 points or 0.06%, the broader Nifty closed at 23,689.50, lower by 18.40 points or 0.08%.Commenting on the day's action, expert Hrishikesh Yedve said that the late recovery helped the index close marginally negative. "Technically, on the daily chart, Nifty found support near 23,500 levels and formed a hammer candle around 250-Days Simple Moving Average (250-DSMA) support, indicating strength. However, the index will find resistance near the 23,920 mark, where its 200-DSMA is located. If the index sustains above 23,920, its upward trajectory may continue to 24,200 levels. As long as Nifty holds above 23,500 levels, a buy on dips strategy should be adopted," the AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates said. Here are 5 stock recommendations for Thursday: Stock Ideas