U.S. Markets Rise Amid Economic Softening

“We expect the market to consolidate within a range, tracking rupee movement, FII flows and global macro.”

“The odds for a January rate cut are now better than one in four, according to the CME FedWatch tool.”

“Given the prevailing choppiness and absence of strong triggers, stock-specific trading approach remains advisable, with an emphasis on disciplined risk management and controlled position sizing.”

“For the bulls, 25,900/84,800 would act as an immediate resistance zone. If it manages to trade above this level, then it could move up to 26,000-26,050/85,000-85,300. On the flip side, 25,750/84,300 and 25,700/84,100 would act as key support zones. Below 25,700/84,100, selling pressure is likely to accelerate. If the market falls below this level, the chances of hitting 25,575-25,550/83,800-83,700 would increase.”

“Nifty continues to consolidate within the 25,700–25,900 range, suggesting indecision among traders. Immediate resistance is placed in the 25,900–26,000 zone, while key supports are located at 25,700 and 25,600. As long as it holds above the 25,500 mark, a selective buy-on-dips strategy remains advisable, albeit with strict stop-loss discipline.”

“We expect the index to extend the current consolidation in the coming sessions. Key short-term support is placed at 58,200-58,600 levels being the confluence of the recent low and the major breakout area. On the higher side a move above 59,500 will open further upside towards the all-time high of 60100 in the coming week.”

“58,700-58,600 will act as important support for Nifty Bank as the prior swing low is placed in that region. Any sustainable move below the 58,600 will lead to further correction upto the 58,000 level in the short term. While on the upside, the zone of 59,200-59,300 will act as an important hurdle.”