trading guide: Market Trading Guide: Axis Bank, Britannia among 7 stock recommendations for Thursday - Stock Ideas - The Economic Times

​Indian equities ended on a positive note in Wednesday’s session led by strong support from the banking and pharma space. Benchmark Sensex rose for a ninth straight session while Nifty closed above the record 20,000 mark for the first time as positive macroeconomic data triggered buying in banking, energy and telecom shares. The 30-share BSE Sensex settled at 67,466.99, up 246 points or 0.37% in the longest winning streak in the last five months. As many as 20 Sensex shares closed in the green while 10 declined.

​The broader Nifty closed above the 20,000 mark for the first time, rallying 77 points or 0.38% to 20,070, its all-time closing high. Of 50 Nifty shares, 31 closed higher and 19 declined.

​Reversal from the lower levels in the mid and smallcap space also provided a boost to the headline index. Sectorally, buying was broad-based, except for the Auto and IT spaces that witnessed selling pressure.

​"Following a flat opening, the Nifty continued higher and closed above 20000 for the first time. Nifty has a strong support near 19900-19950 levels. Traders should hold the long position in Nifty with a stop loss of 19900 levels. If Nifty closes below the mentioned support we can witness further profit booking. If Nifty crosses 20110 levels it can move higher towards 20200-20250 levels and above,” said Rupak De, Senior Technical analyst at LKP Securities, said.

​Here are the stock recommendations for Thursday:

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trading guide: Market Trading Guide: Axis Bank, Britannia among 7 stock recommendations for Thursday - Stock Ideas - The Economic Times
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