Selective Stock Purchases Recommended as Nifty Stays Range-Bound
· Business · Economic Times
The Nifty index fell 0.47% to 24,252, maintaining a range-bound trend amid muted volatility. Analysts suggest selective stock investments until a decisive breakout occurs, with PSU banks, IT, and financial services gaining momentum while pharma and midcaps weaken. The crucial resistance level remains at 24,450–24,750, failing to break past which could lead to further consolidation. India VIX dropped marginally to 11.20.
Why it matters
Traders and investors are impacted, needing to align with identified support and resistance levels for strategic positioning. Market participants must stay focused on sector-specific momentum and probable breakout opportunities for informed decision-making.
Read the original report — Economic Times
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