As we mentioned on 6th January that market must consolidate here and if Nifty is to touch fresh high then Nifty must touch some lower levels.
Presently momentum is among small caps and it is interesting to note that most mid-caps are rising and hitting fresh 52-week highs.
Small-caps are also showing similar trend and most of the liquid small cap stocks are making 52-week highs these days despite of Nifty's and Sensex range-bound momentum.
While Nifty was up just marginally, Sensex was down by 13 points.
On the other hand BSE mid-cap index was up 0.9% and BSE Small-cap index was up by 1.8%.
Tomorrow we will have Infosys result and the result is expected to be much in line of the market expectation.
Market is expecting a cold result from Infy and tomorrow it will dictate future course of action for IT sector.
It will also decide the future movement of broader Index like Nifty, Sensex and both may behave accordingly.
Important Nifty Levels for Today
| Nifty Pivot : 5254 | ||
|---|---|---|
| Support | ||
| 5240 | 5222 | 5196 |
| Resistance | ||
| 5278 | 5295 | 5316 |
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