• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Monday, January 30, 2023
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home Business

Nifty rally may take a breather, but charts say midcap & smallcap stock indices may not pause

by The Outlooker Web Desk
December 1, 2020
in Business
0
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

Although the 50-stock Nifty is expected to consolidate, analysts now find opportunities in the broader markets.

NSE Nifty 50 might take a breather in December, after repeatedly setting fresh all-time highs last month. The rally that the benchmark index saw last month was backed by the strong foreign fund inflows and the positive newsflow around the covid-19 vaccine. “In the coming month, we maintain our overall constructive stance with an incremental shift to broader markets, as the Nifty is expected to undergo consolidation amid positive bias in the range of 12800-13200 after a sharp 14% rally in November,” said brokerage and research firm ICICI Direct.

Nifty support, resistance

Today, on the first trading session of December, Nifty once again breached 13,000 and was sitting comfortably in the green. ICICI Direct has a target of 13,200 for Nifty this month, and says that any decisive move above those levels would signal an extended rally towards 13,600. “Hence, we recommend utilising declines as incremental buying opportunities as we do not expect the Nifty to breach its key support at 12,500 levels,” the firm added. Nifty has a strong support at 12,500, as it is just above the pre-coronavirus high of 12,430.

Opportunity in midcap and smallcap stocks

Although the 50-stock Nifty is expected to consolidate, analysts now find opportunities in the broader markets. ICICI Direct expects Nifty Midcap 100 to outperform as the index has resolved from a three year falling channel, indicating a fresh structural bull market. “Historically, each up leg in the bull market over the past decade has averaged 44%. We expect the index to maintain this rhythm and head towards life highs of 21840 levels over the next few months,” the brokerage firm said.

For the Nifty smallcap 100, charts predict some accelerated momentum. The smallcap index too has also resolved from a three-year falling channel, again indicating a fresh structural bull market. ICICI Direct expects the index to chart its path towards 7800 level in the next few months.

Sectors to watch

Among sectors, technical analysts see the consumer goods space and the metals sector to be improving. “IT and pharma, after the recent breather are placed at attractive levels. We expect the recent breather to be approaching maturity. Thus, it provides a bargain buy opportunity with a favourable risk reward set-up,” ICICI Direct said. After recent outperformance, banking stocks are well placed but could mirror the market trend and move range-bound.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

The Outlooker is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
Burger King India grey market premium zooms 42% ahead of IPO; should you subscribe?

Burger King India grey market premium zooms 42% ahead of IPO; should you subscribe?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Gujarat Court Convicts Asaram Of Raping Woman Who Stayed At His Ashram
National

Gujarat Court Convicts Asaram Of Raping Woman Who Stayed At His Ashram

January 30, 2023
Interview with Dr Terance Shipman
Entertainment

Interview with Dr Terance Shipman

January 30, 2023
Naba Kisore Das Second Odisha Lawmaker To Be Assassinated
National

Naba Kisore Das Second Odisha Lawmaker To Be Assassinated

January 30, 2023
Karnataka High Court Okays Marriage Under Hindu Marriage Act Of Bride Below 18: Report
National

Woman Gets Child’s Custody After Ex-Husband Fails To Appear In Karnataka High Court

January 29, 2023

Connect with us

No Result
View All Result

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • Gujarat Court Convicts Asaram Of Raping Woman Who Stayed At His Ashram
  • Interview with Dr Terance Shipman
  • Naba Kisore Das Second Odisha Lawmaker To Be Assassinated

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.