Indian market is set to consolidate, following sluggish global signals. S&P BSE Sensex & Nifty50 demonstrated negligible growth with a positive bent on Tuesday. India VIX inclined from 12.57 to 12.60 on Tuesday but still considered to have stable volatility. According to Chandan Taparia of Motilal Oswal Financial Services Ltd, “options data” indicate trading ranging 18150 to 18500. Sharekhan, an independent technical analyst and together with experts from BNP Paribas, also suggests the purchase of the stock of Balkrishna Industries, Mastek, ICICI Bank, among others.
Tech View: Nifty faces crucial resistance at 23,500; breakout needed to negate bearish sentiment. How to trade on Friday
Hardik Matalia of Choice Broking warns that if the Nifty breaks below the crucial 23,000 support level, it could fall further to 22,500. To negate
January 23, 2025