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Market Outlook: Market closed with edge, know how it can be on 31 January – Market Outlook The Market Closed with Gains Know How it may move on January 31

Stock market: On 30 January, the Indian equity index closed with an edge and the Nifty reached around 23,250. At the end of the trading session, the Sensex rose by 226.85 points or 0.30 per cent to 76,759.81 and the Nifty rose 86.40 points or 0.37 per cent to close at 23,249.50. Today, about 2051 shares rose, 1734 shares declined and there was no change in 117 shares. India Electronics, Hero MotoCorp, Bharti Airtel, Cipla, Power Grid Corp on Nifty were the top gainers of today. While Tata Motors, Shriram Finance, Adani Enterprises, Bajaj Finserv and Adani Ports were the top loser of today.

BSE midcap and smallcap index were flat closed. Talking about sectoral indexes, auto, IT, media and consumer durables declined by 0.4–2 per cent. While oil and gas, electricity, pharma, energy, PSU, FMCG and realty gained 0.5-1 percent.

Aditya Gaggar director of progressive shares Says that the word expiry is always associated with volatility. Today, Nifty made a flat start before gaining momentum and continued to fluctuate within a certain scope in most of the trading session. However, the sharp decline in the afternoon ended his lead. But in the last hour of the trading session, the Iimsboot Recovery helped the index to close at 23,249.50 with a gain of 86.40 points. Talk about sectors, realty and energy were top performing while IT and media were seen lagging behind.

The Nifty is out of its Falling Wage Formation today. This is a good sign. But the candlestick pattern is not as encouraging. We will wait for further speed confirmation. For now, resistance is visible at 23350-23400 while support is on 23065.

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Technical Research Analyst Jatin Gedia at Mirre Asset Sharekhan The Nifty says that the Nifty has closed down in the third consecutive trading session. Today it closed with an 86 -point lead. The Nifty 20-De Moving Average (23300) on the Daily Chart has reached as a resistance and prevent further boom. The Momentum Indicator on theetrie chart triggers a negative crossover which is a sales signal. Thus, we can expect some consolidation before the big event to be held on Saturday 01 February. A zone of 23120-23055 for Nifty will serve as a support while 23320-23350 will serve as a short-term registration.

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