Nifty Attempts Recovery After Sharp Fall; ONGC, M&M, TechM Lead Losses

After a sharp decline of over 250 points, the Nifty 50 index is attempting to stabilize near key support levels. If the index holds the day’s low and triggers a short-covering rally, a pullback toward higher levels is likely. With the potential for a technical bounce from oversold conditions, buying the Nifty 24500CE (22 May 2025 expiry) is recommended to capitalize on any intraday recovery or reversal in the index. Risk-reward remains favorable near support.

, , and emerged as the top losers in Thursday’s sharp market sell-off. ONGC led the decline, falling 2.82%, followed by M&M with a 2.73% drop, and Tech Mahindra losing 2.04%. Disclaimer: This post is for informational purposes only and does not constitute trading or investment advice.