NIFTY fell below 10,500 mark amid weak global cues. The 50-share NSE index NIFTY fell -1.01% to finish at 10430.35 on Wednesday. The Indian benchmark NIFTY resumed decline after taking a breather in the previous session dragged by widespread losses across all sectors as quarterly earnings of most companies disappointed investors. The sentiment remained weak amid concerns that rising crude oil prices will hurt economic and profit growth.

Looking overseas, European markets trading lower following Asian markets which finished broadly lower on Wednesday. The global equity markets moved sharply lower weighed by the return of geopolitical concerns after the latest comments from U.S. President Donald Trump.

Ten out of eleven sector gauges compiled by the NSE ended lower led by NIFTY METAL, NIFTY MEDIA, NIFTY REALTY, NIFTY PVT BANK, NIFTY FIN SERVICE, NIFTY FMCG and NIFTY PHARMA as top losers. On the flip side, NIFTY PSU BANK is the only gainer.

From the NIFTY 50 basket of shares, HINDPETRO, VEDL, TATASTEEL, BPCL, ONGC, IOC, BAJFINANCE and ZEEL underperformed as top losers while SBIN, TECHM, CIPLA and UPL are top gainers.

Stock to buy today in Indian market on Thursday 24 May

TATASTEEL plunged by 6.37% and settled at Rs.540.05. Trading volume rose by 91 percent at last session. It suggests for a bearish breakout. Derivative traders were aggressive in adding short positions. Open interest increased by 14.68 %. It is steadily grinding lower levels for 5 days. It is trading below its recent support zone. The Near-term resistance is seen around 627.

ANDHRABANK surged by 5.22% and closed at Rs.36.3. Trading volume rose by 396 percent at last trading day. But most of the trades are intraday trades. The momentum of the sellers is indicated by the opening gap. It is trading inside the trading range. The Support is seen around 34 and resistance is seen around 40.

ASHOKLEY strengthen by 3.16% and ended at Rs.145.35. Derivative traders were aggressive in exiting short positions. Open interest reduced by 10.12 %. The technical indicator RSI signals oversold scenario. Currently, it is trading around the lower range of its price band. The crucial support zone is around 142.

SBIN gained by 3.66% and closed at Rs.263.2. Trading volume spiked by 273 percent on 23 May 2018. It gives an impression of a positive breakout. It is continuously heading higher levels for 3 days. This stock is currently settled above the recent resistance zone. We see short-term support around 237.

HDFCBANK is listed in top traded counters. Derivative traders were aggressive in adding short positions. Open interest surged by 4.84 %. It is frequently breaking low for 6 days. It is trading inside the trading range. The Support is seen around 1907 and resistance is seen around 2043.

CIPLA witnessed Bullish Engulfing pattern on daily chart. CIPLA volume spiked by 236 percent at last trading day. However, most of the trades are intraday in nature. Currently, it is trading around the lower range of its price band. The crucial support zone is around 527.

BRITANNIA volume hiked by 75 percent on 23 May 2018. Furthermore 58% of the trades gone for delivery. It gives an impression of bullish trend formation. This stock is currently settled above the recent resistance zone. We see short-term support around 5290.

BANKBARODA Increase by 2.78% and finished at Rs. 136.6. Trading volume inflated by 100 percent. It is continuously heading higher levels for 3 days. It is trading inside the trading range. The Support is seen around 127 and resistance is seen around 149.

TATAELXSI Increase by 2.69% and closed at Rs.1200.9. Trading volume rose by 87 percent on Wednesday. Yet a majority of them are intraday in nature. It is trading inside the trading range. The Support is seen around 1132 and resistance is seen around 1248.

BATAINDIA witnessed Star pattern on daily chart. BATAINDIA volume increased by 231 percent on Wednesday. But a majority of them are intraday trades. Currently, it is trading around the lower range of its price band. The crucial support zone is around 744.

CENTURYTEX plunged by 6.16% and closed at Rs.936.35. It Indicates Derivative traders were aggressive in adding short positions. Open interest surged by 9.36 %. It is trading below its recent support zone. The Near-term resistance is seen around 1258.

ONGC plunged by 5.29% and settled at Rs.175.4. There could be Derivative traders were aggressive in adding short positions. Open interest increased by 3.98 %. It is trading below its recent support zone. The Near-term resistance is seen around 191.

HINDPETRO plunged by 7.97% and finished at Rs. 287. Trading volume increased by 129 percent at last trading day. There is an evidence of bearish breakout. It is trading below its recent support zone. The Near-term resistance is seen around 326.