JANUARY 15, 2025 , 8:03 am ist
Stock Market Live Updates: Progressive Shares Director Aditya Gaggar’s opinion on the market
Aditya Gaggar, Director of Progressive Shares, says that after continuous selling in the last few days, there was some relief in today’s business. Today the Indian stock markets started the trading session with a positive trend. However, in the absence of further upside, the market remained in a tight range and at the end of the trading session, Nifty closed at 23,176.05 with a slight gain of 90.10 points. Among sectors, PSU banks and metals were the best performers, while FMCG and IT declined. Strong recovery was seen in small and medium stocks. Due to which mid and small cap index increased by 2.45 percent and 1.98 percent. These indices have outperformed the benchmark indices today. On the daily chart, the indices have formed a Gravestone Doji along with Bullish Harami candlesticks. This is combined with a possible bullish divergence in the RSI. However, a strong close above 23,360 is required to confirm the resumption of uptrend. Immediate resistance for Nifty lies at 23,300, while the psychological level of 23,000 will act as strong support.