Market Trading Guide: Buy Hindalco and Waaree Energies on Friday for near term gains up to 8%

The auto sector, despite recent gains post-RBI policy, faced selling pressure today, indicating profit booking or broader market weakness. Financials and FMCG also contributed to the Nifty's decline.

For auto, look for consolidation or further dips as potential entry points, focusing on companies with strong Q4 recovery prospects. For financials and FMCG, monitor for signs of stabilization before considering fresh long positions.

For Indian markets, this story mainly matters for HINDALCO, , NIFTY_FIN_SERVICE and the Metals & Mining, Renewable Energy, Financial Services pocket. The current signal is mixed, so traders should look for follow-through in price, volume, and sector breadth instead of reacting to the headline alone.

Watch whether the next market session confirms the setup described here: Recommended for near-term gains by analysts. Recommended for near-term gains by analysts. Also track volume confirmation, sector participation, and whether the move holds beyond the first reaction.

• •Nifty 50 snapped its five-day rally, falling sharply.
• •Selling was observed in financial, auto, and FMCG stocks.
• •Analysts retain a positive outlook and recommend 'buy-on-dips'.
• •Key resistance for Nifty is at 24,000 and support near 23,500.
• •Hindalco and Waaree Energies are recommended for near-term gains up to 8%.