Consolidation could continue for a few more sessions and volatility is expected to remain high.
It was a boring day, what most people would call it, on D-Street on Wednesday. The index closed roughly around the same level where it closed on Tuesday.
Nifty is facing resistance around 10500 levels which is acting as a big hurdle for the index. Metals, Capital Goods, Consumer Durables and Realty outperformed, Auto, Oil & Gas, IT and Healthcare witnessed selling pressure.
Consolidation could continue for a few more sessions and volatility is expected to remain high ahead of the Q3FY18 earnings season, likely to begin in the next week.
Market participants would continue to closely monitor the macro events (like inflation & IIP growth) and global developments. Analysts advise traders to keep their positions hedged.
For more, watch the Markets@Moneycontrol show. Moneycontrol analyst Shishir Asthana speaks to Anchal Pathak about the markets trends to look out for today.
First Published on Jan 4, 2018 08:45 am