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Balkrishna Industries has seen a breakout of long horizontal resistance trendline adjoining highs of September 23, 2021 and January 11, 2024. The stock formed strong bullish candlestick pattern on the daily timeframe with healthy volumes.
Emkay's Seshadri Sen expects Nifty returns to be muted at around 10 percent in 2024, though the broader trend should remain the same as in the previous year
Pre-budget sentiment might lead to more volatility this week, as there are just three trading sessions and all eyes are on Bank Nifty, which is in oversold territory.
Jigar Patel continues to advise traders to be light from now on and stay stock specific.
The immediate trading range for the Nifty 50 is anticipated to be between 21,500 and 21,800.