Strong support is placed at 23,300 which we expect to hold as it is the confluence of 61.80% retracement of the June-September rally (21,281-26,277) coinciding with the 52-week EMA at 23,350. Buying on dips in quality stocks would be the prudent strategy.
These stocks belong to different sectors such as telecom, information technology, banking, and finance.
Overall, in the banking sector, there could be a trading play as liquidity may improve post RBI policies in 2025, maybe interest rate cut.
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