Market Trading Guide: Tata Steel, IRCON are among 5 stock recommendations for Thursday

Indian frontline indices ended with gains on Wednesday aided by gains in auto, IT and metal stocks though selling in banks and financial services stocks trimmed the gains. While the BSE Sensex rose 182.34 points or 0.22% to close at 81,330.56, the broader Nifty was shot-up by 88.55 points or 0.36% to end the day at 24,666.90.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty's short-term trend remains positive as the index continues to remain above critical moving average. "The index traded within a narrow range today, following two days of high volatile moves. After a sharp rally, this sideways movement appears to be a healthy consolidation, suggesting the market is catching its breath before the next move. As long as the index stays above the crucial support level of 24,400, the bulls are likely to maintain their grip. In the near term, the index might move towards the 24,850–25,000 range. However, a drop below 24,400 could delay this upward trajectory and lead to further consolidation," De said.Here are 5 stock recommendations for Thursday: Stock Ideas