According to Hrishikesh Yedve of Asit C. Mehta Investment Intermediates, if the Nifty sustains above 23,460, a short-term pullback toward 23,800-23,900 is likely. However, resistance is expected near 23,930, where the 200-DSMA is positioned. Falling below 23,460 could lead to further weakness, potentially dragging the index down to the 23,300-23,200 range.
Jefferies views IndiGo as unique and strong franchise, raises target price to Rs 5,260
The IndiGo stock has underperformed following a significant miss in the company’s 2Q results, driven by higher costs impacting profitability. However, Jefferies expects cost normalization
January 9, 2025