Market Trading Guide: Voltas, Ambuja Cements among 5 stock recommendations for Thursday

Indian headline indices struggled to gain momentum through the day after a sluggish start as weak global cues and the absence of new drivers weighed heavily on the markets. A broad-based sell-off led to declines across sectors, with IT, auto, and FMCG stocks being the biggest drag on the Nifty 50. At the closing time, the S&P BSE Sensex slipped by 318.76 points or 0.39% to settle at 81,501.36, while the Nifty dropped 86.00 points or 0.34% to finish at 24,971.30.Commenting on the day's action, expert Tejas Shah of JM Financial & BlinkX said that Nifty is showing indecisiveness at the current juncture. The 50-stock index formed a DOJI candle on its daily chart which indicates this indecisiveness and presently, Nifty is in 'No Man’s Land', Shah said. "Broadly, Nifty is still trading in the range of 24,950 to 25,250 levels for the past few days and we need to wait and watch for either side breakout or breakdown for 250 to 300 points of directional move in Nifty. Support for Nifty is now seen at 24,950-25,000 and 24,700-750. On the higher side, immediate resistance for Nifty is at 25,100 levels and the next crucial resistance zone is at 25,250-300 levels," he added.Here are 5 stock recommendations for Thursday: Stock Ideas