Page 7 - Sameet Chavan News Today

As the market advances, it is advisable to focus on risk management and have a selective approach while looking out for thematic movers amidst the ongoing sectoral rotation, Sameet Chavan said.

Analysts believe that any breather ahead of Q3 results should be considered as a buying opportunity instead of a negative trend

Irrespective of benchmark index’s move, the IT space is likely to outperform in the near term. It has already completed its 20-month price wise as well as time wise correction phase, Sameet Chavan says.

Analysts believe the breather in the market is welcomed as the recent bull run had pushed the Nifty 50 into an overbought zone. Nonetheless, they believe the underlying sentiment in the market still remains bullish.

Indian stocks are reaching new highs. Overall market sentiments are positive, FIIs have made substantial purchases, once again, adopting a

Though come volatility is expected in the second half of trade due to the expiry of the December F&O series, analysts expect the strong upward momentum to continue in the coming session. Likewise, they expect the Nifty 50 to hit the 22,000-mark in the near-term.

The market seems to have entered into consolidation mode with hurdle on the higher side at 21,593, the record high, and the support for the Nifty 50 on the lower side at 21,200-21,000 levels.

The net long of FIIs increased from Rs 85,449 crore on Wednesday to Rs 89,782 crore on Thursday.

Nifty recently demonstrated resilience, rebounding strongly from a critical support level at 21,000, affirming a bullish sentiment. The index closed above its 10-day moving average, signaling positive momentum. Key levels to monitor include 21,000 as immediate support and 21,300 as the initial resistance.

Defensive plays, which lagged in earlier trades, took the lead in early morning deals. The Nifty pharma index was up over a percent and the Nifty consumer durables 0.6 percent