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As the FII might not return to the market on the very first day of the New Year, the market may remain sideways to slightly negative. “A drop below 21,650 might be the first signal for long unwinding.
In the case of Wipro, Axis Securities said the IT stock has recently demonstrated a robust breakout above the neckline of the 'Inverted Head & Shoulders' pattern at Rs 444, accompanied by a strong bullish candle. This it said, indicates a positive bias.
LIC shares: The brokerage suggested a buy range of Rs 790-774 for LIC, with a target of Rs 874-916, suggesting a 12-17 per cent potential upside for the scrip. LIC shares: The brokerage suggested a buy range of Rs 790-774 for LIC, with a target of Rs 874-916, suggesting a 12-17 per cent potential upside for the scrip.
With decisively surpassing previous record highs and making higher highs, higher lows formation along with healthy volumes on daily charts last week, the Nifty50 is likely to march further northward with eyeing 20,400-20,500 zone.
The benchmark Nifty jumped as much as 334.6 points to hit a new high of 20,602.50. Meanwhile, the Sensex surged 1,106.6 points to hit a record high of 68,587.82.