Dalal Street Week Ahead: Selective Buying Favoured as Nifty Remains Range-Bound
Nifty remained range-bound, falling 0.47% to 24,252 amid subdued volatility. Resistance at 24,450–24,750 remains crucial, while 23,900–24,100 offers support. Analysts recommend selective, stock-specific positioning until a decisive breakout. PSU banks, IT, financial services and services show improving momentum, while pharma, midcaps and energy face weakening relative strength.
The week ahead on the Indian stock market, known as Dalal Street, is expected to see selective buying as the Nifty remains range-bound. The Nifty index finished the previous week with a loss of 114 points, or 0.47%, and traded within a range between 24,025.65 and 24,360.10. The India VIX declined by 0.97% to 11.20, showing reduced volatility.
Technical indicators suggest that Nifty may continue to trade within its broad range unless it breaks beyond the resistance cluster at 24,450–24,750. This zone contains a combination of important moving averages, making a sustained move above it crucial for the index to regain momentum. On the downside, any breach of the support cluster at 23,900–24,100 would weaken the current structure and increase the likelihood of further correction.
Analysts advise cautious participation in the market, with selective buying and disciplined risk management, as the broader market remains undecided on a clear direction.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
