6 days ago
Nifty Holds Range as Small-cap Index Sets Record High
The Nifty 50 index had a weak day after starting higher.
It finished at 24,207.75, close to its lowest level of the day.
A closing adjustment caused an extra fall of about 68 points.
Smaller companies performed better, and the Nifty Smallcap 100 reached a record high.
Metals, banks and financial companies attracted buyers, while IT and FMCG shares were weaker.
The Nifty is still moving between 24,000 and 24,400.
A move above 24,400 could signal strength, while a fall below 24,000 could increase selling.
Cochin Shipyard is being watched because its chart shows possible signs of a breakout.
Analysts identified possible targets near ₹1,640 and ₹1,680 if the stock rises above ₹1,555-1,558.
Nifty 50 settled 0.68? at 24,207.75 on Wednesday after failing to sustain early gains.
A CAS adjustment near the close caused an additional decline of nearly 68 points.
Nifty Smallcap 100 reached a fresh all-time high as metals, banking and financial stocks attracted buying.
India VIX fell 4.6% to 10.5, while Nifty remained within the 24,000-24,400 range.
Cochin Shipyard could target ₹1,640 and ₹1,680 above ₹1,555-1,558, with a ₹1,502 stop loss.
- Who
- The Nifty 50, Nifty Smallcap 100, sectoral stocks and Cochin Shipyard.
- What
- The Nifty 50 declined modestly while the Nifty Smallcap 100 reached a fresh record high; technical levels were identified for the index and Cochin Shipyard.
- Where
- The Nifty 50 and broader equity market.
- When
- Wednesday’s session, with key levels identified for Thursday.
- Why
- The Nifty faced selling at higher levels and remained in consolidation, while sectoral rotation supported metals, banking, financial services and small-cap stocks.
Key facts
- Nifty 50 close
- 24,207.75 on Wednesday
- Nifty trading range
- 24,000-24,400
- Immediate Thursday support
- 24,115
- Key upside level
- A sustained move above 24,400 could open 24,550-24,650
- India VIX
- 10.5, down 4.6% to a multi-month low
- Small-cap performance
- Nifty Smallcap 100 touched a fresh all-time high
- Cochin Shipyard setup
- Breakout above ₹1,555-1,558 could target ₹1,640 and ₹1,680; stop loss at ₹1,502
Sources
Related news
Nifty Breaks Trendline Support as Selling Pressure Intensifies
Nifty Holds 24,000 as 23,950 Becomes Key Support
Nifty Remains Stuck in 24,000-24,400 Trading Range Awaiting Breakout
Nifty Outlook: Key Support Holds as Consolidation Continues
Indian Markets Expected Flat After Seven-Session Loss Streak Ends
Nifty falls fourth straight session; 24,200-24,250 key support
Markets Brace for Volatility as Crude Prices Rise
GIFT Nifty Signals Shift From Positive To Negative Market Open
Sensex, Nifty end lower; Bagadia recommends five breakout stocks
Kotak suggests Nifty bull call spread; sees breakout above 24,700
