Stock Market Live Updates: Gift Nifty is giving signals, Indian market may start weak – live stock market today jan 3 updates bse nse sensex nifty latest news crude bharti airtel hero motocorp biocon wockhard rites dmart share price

Stock Market Live Updates: Progressive Shares Director Aditya Gaggar’s opinion on the market

Aditya Gaggar, Director of Progressive Shares, says that in today’s trading session the market was dominated by bulls. After a steady start in the market, there was a one-sided rise in the entire session. This helped Nifty cross many resistances and it closed at 24,188.65 with a strong gain of 445.75 points. Except media, all sectors closed in the green, in which auto and IT performed the best. Despite strong market action, mid and smallcap stocks underperformed the frontline indices. Today the rise has come mainly on the strength of the big index stocks.

On the daily chart, the index has formed a strong bullish candle. However, a pullback or retracement is now possible in the market which may push the index lower to test the support located at 24,000 levels. After that the next phase of rally may take the index towards 24,700-24,800.