The year is ending in just a few more days. How will the market perform during this time? According to media reports, experts say investors will take cautious steps for now. The market may start with a slightly positive trend on Wednesday. Such conditions exist both globally and domestically. However, investment or trading in the market may be relatively low due to the Christmas atmosphere. More buying and selling will be seen in select stocks or select sectors. Consolidation is expected to be more visible.
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According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, the index will move within a specific range on this day. Nifty 50 is currently moving between 25800 and 26200. If the index can cross this resistance, it could touch 26450.
On the other hand, the BankNifty index is consolidating with strong support in the 58700 zone. She believes that momentum will come to this index only after crossing the 59800 level.
For Wednesday, December 24, support for the Nifty 50 index has been placed at 26050 and resistance at 26300.
Vaishali Parekh has recommended three stocks for the day
1. Nykaa
Buy: ₹256, Target: ₹265, Stop Loss: ₹248
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2. JBM Auto
Buy: ₹250, Target: ₹270, Stop Loss: ₹240
3. Balmer Lawrie:
Buy: ₹180, Target: ₹190, Stop Loss: ₹176
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
