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Irrespective of benchmark index’s move, the IT space is likely to outperform in the near term. It has already completed its 20-month price wise as well as time wise correction phase, Sameet Chavan says.
There could be around 1.5 percent to 2 percent rate cut in 2024 by the US Fed, including a few cuts of 50 bps instead of the normal 25 bps, says Vikas Gupta.
PSUs, consumer staples, automobiles, and pharmaceuticals will be critical sectors for 2024 that are likely to deliver healthy returns, says Naveen Kulkarni.
Steel Authority of India continued making higher highs, higher lows formation for four days in a row. The stock has formed robust bullish candlestick pattern on the daily scale and traded well above all key moving averages.
The Nifty 50 index has now expanded its trading range, with an upper boundary around 21,800 to 22,000, while support is observed in the range of 21,700 to 21,600.