Stock market today, Aug. 10 -- The domestic benchmark indices continued their downward trend for the sixth week in a row, primarily influenced by rising trade tensions between the US and India. The mood was subdued at the beginning of the week, but selling pressure grew stronger as the week went on. In the end, both the Nifty 50 and the Sensex dropped by almost one percent each, finishing at 24,363.30 and 79,857.79, respectively.

Dharmesh Shah of ICICI Securities predicts that the Nifty 50 is nearing an important support area between 24,000 and 23,800, which aligns with the 52-week EMA and the 50% retracement of the entire upward movement since the low of 21,743 in April, given the current oversold situation. Shah recommends one stock to...