Subscribe to enjoy similar stories. The stock market has faced mounting pressure recently, with foreign institutional investors (FIIs) stepping up their selling since the start of October. This aggressive sell-off has triggered a sharp retreat in major indices like the Nifty50, which has now fallen over 10% from its all-time high of 26,277.
The rapid decline has many investors asking: is this a market peak, or merely a short-term correction? Read this | Railway stocks could be set for a strong finish to 2024 Before diving into stocks poised to outperform in a market recovery, let's examine the broader Nifty50 index and its technical outlook. The Nifty50 has slipped over 10% from its all-time highs, bringing it to a retest of its long-term support at the 200-Day Exponential Moving Average (200DEMA) Channel—formed using the average of high and low prices. Historically, this channel has served as a strong demand zone, presenting traders with a potential buying opportunity during market pullbacks.
In technical analysis, retracements and dips are typical within a healthy trend, and the coming days will be crucial in determining whether the broader market can reclaim its bullish momentum. Against this backdrop, let’s turn to specific stocks that show strong potential to outperform, particularly if the market reverses its current downtrend. Coforge, a prominent IT services company, has consistently demonstrated solid performance, driven by robust demand in digital transformation and cloud services.
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