Indian equity markets ended flat this week as benchmark indices consolidated within a narrow band, with the Nifty facing stiff resistance near 24,300-24,400 while support holds at 24,000. Market expert Rajesh Palviya from Axis Securities notes that derivative data reflects a tightly packed trading range, with major call writing at 24,300-24,400 strikes and put concentration at 24,000-24,100 levels. As earnings season intensifies, traders are shifting focus from index-based trades to stock-specific opportunities, with Bajaj Auto emerging as a strong chart setup. Bank Nifty remains range-bound between 54,500 and 56,000, pressured by weaker-than-expected earnings from State Bank of India affecting PSU bank sentiment. Palviya expects consolidation to continue until a decisive breakout above 24,400 triggers substantial short covering.
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