India’s headline indices fell sharply on Friday amid significant selling pressure in export facing sectors like pharma, IT and auto stocks as Trump’s 25% tariff scare on India mounts. Nifty witnessed another sharp decline as it failed to reclaim the 200-DMA on the hourly chart, despite a strong recovery on Thursday.Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the index remained below the 50-EMA on the hourly time frame throughout the day. “On the daily chart, it has broken below the recent consolidation support at 24,600. Sentiment remains weak, with the potential for the correction to extend towards 24,400–24,450. A further decline is likely if it slips below 24,400; otherwise, a recovery can be expected. On the higher side, resistance is seen at 24,600–24,650 and 24,850,” De said.Here are 2 stock recommendations for Monday:
Wakefit IPO: Check GMP, price band, review, subscription and other details
Wakefit Innovations, known for its mattresses, is launching its IPO with a positive grey market outlook. The company is raising over Rs 1,200 crore. Despite
December 8, 2025