F&O Talk: Nifty to consolidate further, says Sudeep Shah; picks 3 stocks for next week
SBI Securities’ Sudeep Shah expects Nifty to remain range-bound, with 24,000 as key support and 24,500 as resistance. He warns of underpriced options-market tail risks amid low volatility. Bank Nifty remains compressed, while Nifty IT faces support at 30,000. AU Small Finance Bank, Aditya Birla Capital and Nippon Life offer setups.
The Indian stock market continued to increase on Friday, yet Middle East uncertainties held back gains for the benchmark indices Sensex and Nifty. The Sensex climbed over 3 points to close around 77,541, while the Nifty 50 increased 20 points to conclude the session at 24,252. The broader markets exhibited stronger performance, with the Nifty Smallcap 100 surging 0.6%. Analyst Sudeep Shah, Head of Technical & Derivatives Research at SBI Securities, discussed Nifty's outlook with ETMarkets.
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