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Despite a positive undertone, the market appears to be in a corridor of uncertainty, and trading within the mentioned broad range is expected in the truncated week ahead of the next calendar year.

Cummins India continued uptrend for second consecutive session. The stock has formed healthy bullish candlestick pattern on the daily scale with above average volumes and traded above all key moving averages.

The banking, consumer discretionary, and rural-oriented sectors are expected to perform well in the upcoming year, says Sushant Bhansali of Ambit.

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.

One should keep a note of FII’s long short ratio in index futures is around 66 percent (till Thursday). Once this ratio crosses the 70 percent mark, markets might start preparing for a temporary short-term top formation.

Formalization of the economy and the manufacturing upcycle will help corporate earnings to be stronger for the next 5 years, says Madanagopal Ramu.

Favourable government policies, higher government capital expenditure, Indigenisation, Import Substitution and China Plus One Trend continues to be at play in sectors like Capital Goods, Defence, Electronics and Textiles in particular, says Arvind Kothari.

Yogesh Kalwani of InCred Wealth expects the earnings momentum to remain strong not only in the current quarter but also through FY24 and FY25

In light of the overall chart structure, Vidnyan Sawant maintains a bullish stance on Nifty 50 with specific targets set at 21,593 and 21,800 for the short to medium term.

Hindustan Copper has formed Bullish Engulfing kind of candlestick pattern on the daily charts, indicating the possibility of positive mood in the counter going ahead.