Stay updated with breaking news from Sameet Chavan. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Whether it is strong GDP forecast by the Reserve Bank of India or foreign inflows momentum, market observers said that the near-term trajectory appeared positive
The next cue for markets is the Federal Reserve's December policy outcome, which is expected later in the day. While the US central bank is expected to hold rates, its commentary will be closely tracked for clues to the rate-cut path
Despite the slowdown, minor dips favor the bulls, and a gradual upshift in the support base signifies a positive development technically.
The phase of consolidation may last as long as the index trades below the 21,000 mark, with immediate support at 20,850 and crucial support at the 20,500-20,300 levels, but if the index decisively closes above 21,000, then 21,500 could be the possibility
As per Angel One, this week 20850 is viewed as immediate support, and sustained trading below this level could trigger a price correction, potentially bringing prices toward the next support at 20700.