Nifty falls below 24,000 for 4th straight weekly decline
Nifty ended last week at 23,897.7, logging its fourth straight weekly drop and falling below the key 24,000 mark.
If it stays under 23,800, analysts see more downside toward 23,500 to 23,600.
Bulls need a move above 24,200 to turn things around.
Over in Bank Nifty land, buying on dips near 56,400 is suggested, but expect resistance at 58,000.
Long straddle 23,950 and stock picks
For this expiry, a "Long Straddle" using 23,950 call and put options could pay off if Nifty makes a big move either way; your risk is limited to the premium you pay.
Stock-wise: APL Apollo Tubes (up 4.4% on Friday) and Paytm are top picks with targets of ₹2,330 to ₹2,350 and ₹1,800 to ₹1,830.
Also on the radar: Hindustan Oil Exploration (target ₹205) after breaking out of its rut and Engineers India (target ₹325), both flashing strong buy signals on technical charts.