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Equity indices declined on Monday amid concerns over corporate earnings and a fall in the global markets. The Nifty index fell 0.91% to 21,513, while the Sensex shed 0.93% to 71,355.
Experts expect the Nifty 50 to focus on 21,800-22,000 levels in coming weeks after ongoing consolidation, while taking support at 21,700-21,500 levels and advising buy on dips strategy
Analysts said investors need to be selective while picking midcap stocks following the sharp rally. A couple of them suggested a few midcap stocks that investors can keep an eye on in 2024.
Mazagon Dock Shipbuilders has seen a breakout of falling resistance trendline as well as horizontal resistance trendline, and traded above all key moving averages, which is a positive sign.
Nifty future closed positive with gains of 0.45% at 21499 levels on Tuesday. India VIX was up by 7.08% from 13.70 to 14.68 levels. Volatility spiked to higher zones and created some swings in the market.