K. ARAVIDN
The market was generally volatile. At the same time, the market continued to move forward. The market is now on a downward trend towards the Nifty pressure level of 13,600 points.
The increase in the number of COVID-19 patients and the uncertainty surrounding the US new stimulus package have led to gains in global markets. It also paved the way for fluctuations in the Indian market.
Public sector bank stocks and metal stocks performed well last week. At the same time, the Nifty is at an all-time high but many index-based stocks have not reached that level. Shares of public sector banks are still far below their high value.
Nifty has strong resistance at 11,600. The last few days have seen gains at this level. At the same time, if the Nifty breaks through the 11,600 resistance, it is likely to move to 14,000 points. The Nifty supports between 13,200 and 13,000.
Derivatives of the Nifty Financial Services Index are set to begin trading, the National Stock Exchange said. Derivatives of the Nifty Financial Services Index will be available for trading from January 11. NSE has received approval for this from SEBI. Derivatives of both the Nifty 50 Index and the Nifty Bank Index are currently available.
