The market recently broke below the crucial support of the ascending trend line, and the significant gap down on August 5th remains unfilled, indicating a negative outlook. A decisive drop below 23,900 could lead to a short-term downward correction. The immediate resistance is at 24,250-24,300 levels, according to Nagaraj Shetti of HDFC Securities.
Midcap, smallcap valuations still overpriced despite recent correction: Shibani Sircar Kurian
The private sector banks, particularly large-cap ones, appear to have valuations that accommodate current headwinds. Large-caps offer attractive investment opportunities compared to mid-caps and small-caps,
January 15, 2025