Market Trading Guide: 360 One WAM, Alkem Laboratories are stock recommendations for Friday

Indian markets made a sharp rebound on Thursday after hitting the day’s low. Buying action across sectors was seen but most prominent action was in auto, IT and bank stocks. While the BSE Sensex surged 1200.18 points or 1.5% to close at 82,530.74, the broader Nifty was shot-up by 395.20 points or 1.6% to end the day at 25,062.10.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the recent consolidation breakout, along with a move above the swing high, has increased the probability of the index reaching 25,690 in the short term though he sees immediate resistance is placed at 25,360, above which further upside potential may be unlocked. On the downside, 24,400 is expected to act as strong support in the short to medium term, De said, adding that a decisive break below this level could cause the ongoing rally to lose momentum. "Until then, a buy-on-dips strategy is likely to remain effective," he opined. Here are 2 stock recommendations for Friday: Stock Ideas