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In the week ending February 21, the benchmark Sensex index saw a decline of about 1%. Amid this downturn, 6 penny stocks experienced significant drops of 15% to 25%. Our selection criteria focused on stocks with a market cap under Rs 1000 crore, a share price below Rs 20, and a minimum trading volume of 5 lakh shares. (Data Source: ACE Equity)
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Indian frontline indices continued their falling streak on Friday, declining for the fourth day in a row. They were pulled down by banks, financials and auto stocks. The 30-stock S&P BSE Sensex finished at 75,311.06, declining by 424.90 points or 0.56% and the broader Nifty fell by 117.25 points or 0.51% to close at 22,795.90.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty has fallen giving a bearish flag pattern breakdown on the hourly chart. This suggests a rise in bearishness among market participants, he said. "Additionally, Nifty has closed at a multi-day low amid increased bearish sentiment. The RSI (14) has entered a bearish crossover. On the lower end, a correction towards 22,500 looks possible in the short term, while on the higher end, 22,850 might continue to remain a strong resistance," De said.Here are 4 stock recommendations for Monday:
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Tata AIA Life Insurance's Multicap Momentum Quality Index Pension Fund NFO offers a quant-based strategy for retirement planning, balancing risk and returns. It invests 80%-100% in equities, leveraging India's economic growth. Subscription closes on February 28.
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