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Trade setup for today: Top 15 things to know before the opening bell

Based on the OI percentage, a short build-up was seen in 54 stocks on January 24, including Container Corporation of India, ONGC, Indus Towers, SBI Card, and Deepak Nitrite.

January 25, 2023 / 09:11 AM IST

The market on January 24 lost its gains in the afternoon and finally settled the session on a flat note despite positive Asian cues, ahead of the expiry of January derivative contracts on January 25.

The BSE Sensex rose 37 points to 60,979, while the Nifty50 declined 0.2 point to 18,118.30 and formed a bearish candle on the daily charts as the closing was lower than the opening levels. The index remained rangebound for yet another session.

"A long bear candle was formed on the daily chart which indicates a continuation of rangebound movement in the market. The high-low range of around 18,200 to 18,000 levels has been acting as a high-low range over the last five sessions," Nagaraj Shetti, Technical Research Analyst at HDFC Securities said.

He says that the short-term trend of Nifty continues to be rangebound and this choppy movement within 18,200-18,000 levels is likely to continue for the next 1-2 sessions.