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Ahead of the February series expiry, Nifty on Wednesday ended 247 points lower below the 22,000 level and around its 20-DEMA. Observing the daily chart, the index has been navigating within a rising channel.

Among sectors, Auto, Capital Goods, Information Technology, Pharma, Realty rose 0.5-1 percent each, while Oil & Gas index was down 1 percent.

In a bustling session, Nifty closed around 22,200 defending the previous sessions low at 22,075 and, prompted a rebound to regain the initial lost ground, said Rajesh Bhosale, Technical Analyst, Angel One. The sentiment remained bullish throughout the day as intraday dips were met with buying interest, Bhosale added.

Great India Retail Summit 2024: The event lived up to its promise, serving as a hub for prominent retail leaders, policymakers, industry experts, brand founders, MDs, CEOs, retail real estate developers, investors, technology innovators, and celebrity entrepreneurs. Together, they explored the evolving landscape of customer behavior and the dynamic challenges faced by the industry.

Nifty on Wednesday ended flat with a gain of just 1 point and formed a Small Negative candle with a lower shadow on the daily chart, ahead of the RBI policy outcome on Thursday.

​Finance Minister Nirmala Sitharaman promised economic reforms to drive growth in her Budget speech, which was largely expected to avoid significant spending on new welfare programmes ahead of the election

Top losers on the Nifty included HUL, M&M, TCS, IndusInd Bank and HCL Technologies, while gainers were Coal India, Adani Ports, Adani Enterprises, Kotak Mahindra Bank and ICICI Bank. The market will be closed on January 22

All the sectoral indices ended in the green, with auto, capital goods, IT, FMCG, metal, oil & gas and power up 1-2 percent

Nifty on Friday ended 160 points higher to form a Doji candle on the daily chart as the index reclaimed its short-term moving averages but lacked decisiveness. As long as the sharp opening downside gap of Wednesday remains open at 21,970, there is a higher probability of a ‘sell on rise in the market for the short term. Immediate support is at 21,550 level, said Nagaraj Shetti of HDFC Securities.

In November, when Nifty 50 gave over 5% returns, 334 smallcap stocks registered double-digit returns.