lunchtime mood: The Nifty is now trading at 21,450, and the indexes are continuing to rise

 lunchtime mood: The Nifty is now trading at 21,450, and the indexes are continuing to rise

lunchtime mood: The Nifty is now trading at 21,450, and the indexes are continuing to rise

Analysts predict that during the last week of the current year, the market will be range-bound, with resistance for the Nifty 50 located between 21,500 and 21,600.

Comparisons The market's overall positive feeling was reinforced and reinforced by the roughly half-percent gains in the Sensex and Nifty. But for the last week of trading in the current year, experts anticipate that the index will continue on a range-bound track.

At 11:53 am, the Nifty was at 21,451, up 101.06 points, or 0.48 percent, while the Sensex was up 267.25 points, or 0.38 percent, at 71,372.51. A total of 1,508 shares increased, 862 shares decreased, and 101 shares stayed the same.

Larger markets also reflected the upbeat sentiment, as the Nifty Smallcap 100 and Nifty Midcap 100 saw increases of 0.7% and 0.3%, respectively.

regional patterns

All of the indexes are trading higher, with the exception of Nifty IT and Nifty Realty. With news of the JN.1 Covid variant's entry in the nation, Nifty was one of the biggest gainers in the pharmaceutical sector, climbing more than 0.8% intraday.

basic methodology

This week's increased volatility, which comes from December futures contracts expiring on time, alarmed analysts. As the week goes on, the market may be affected by rising concern in the Red Sea, an increase in new COVID-19 cases, and a lack of significant FII activity because of year-end.

"The front-line indices remained unpredictable over the past week, however, the last two trading periods confirmed bullish sentiments as a sharp temporary correction was seen in the value action," said Avadhoot Bagkar, a technical and derivatives analyst at Stockbox.

technological methodology

According to Research Analyst Deven Mehta, "markets are expected to remain range bound in the final week of the current calendar year, alongside Nifty 50 facing resistance in the 21,500-21,600 range as well as immediate support in the 21,300-21,200 range." Selective Brokering.

He said that the index may reach 21,800 levels with a substantial breach of 21,600, and 21,000 levels with a break of the same support. As a result, traders that trade on the short term or intraday have the chance to play on both sides, with Nifty buying opportunities near support and profit booking opportunities near resistance.

in the clear

With the dollar index below 102 and the US 10-year bond yield remaining at 3.88 percent, global indications are still supportive. Due to low US inflation, there was a chance that the Federal Reserve might soon decrease interest rates, which caused the dollar to move closer to a five-month low.

The revelation of US inflation data that was lower than anticipated on Friday helped US markets immediately, but other encouraging economic data raised some doubts about the future of interest rates.

significant Nifty gainers

Hero MotoCorp, NTPC, Adani Enterprises, and Divis Lab

significant nifty losers

TCS, Bajaj Finance, Infosys, and Bajaj Finserv

Sensex major gainers

Maruti Suzuki, HCL Tech, Tata Steel, and Tata Motors

Significant Sensex decliners

The Bank of India and Reliance Industries

stock movements

Adani Wilmar: Following the promoter group's announcement that it will cut a portion of its ownership in the Fortune oil manufacturer, the shares fell.

JSW Energy: After its wholly-owned subsidiary JSW Renew Energy Ltd began phase-wise commissioning of an 810 MW ISTS-connected wind power facility, shares of JSW Energy increased by over 2 percent.

Inox Wind: Following the company's successful acquisition of repeat orders from a major commercial and industrial (C&I) player, shares increased by 2.5 percent. The contract covers a combination of equipment supply with restricted scope EPC for 180 MW and end-to-end turnkey execution for 99 MW. The deal is for the company's newest 3 MW Wind Turbine Generator (WTG).