Traders can use the dip to create long positions in Nifty futures around 17,100 levels for targets of 17,600-17,750. One can use 16,900 as a stop loss for this long trade. On the sectoral front, we expect auto, banking, financials, power, and capital goods to outperform, while IT, FMCG, and metals can be the laggards.
Gold, silver hit all-time high on Diwali demand
Gold prices reached a new high of Rs 80,650 per 10 grams in the national capital. Silver also rose significantly by Rs 5,000 per kg,