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Trade Spotlight | What's your strategy with Poonawalla Fincorp, L&T Technology, Tata Motors on Wednesday?

L&T Technology Services was also in action, rising 3 percent to Rs 3,426 and formed bullish candle on the daily charts with upper shadow, with higher high higher low formation after forming Bullish Engulfing kind of pattern in previous session. The volume remained high for yet another session.

January 25, 2023 / 06:57 AM IST
 
 
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The market tried to extend previous day's gains and hit a high of 18,200 on the Nifty50, but the profit booking at higher levels made the attempt fail and the index closed flat by taking support at around 18,100 or 50 DEMA (days exponential moving average) on January 24 amid caution ahead of expiry of January derivative contracts on Wednesday.

The expiry of monthly contracts will take place on Wednesday, a day before the actual session. Monthly contracts usually get expired on the last Thursday of every month but this time we have a holiday on the same day due to Republic day.

The BSE Sensex gained 37 points at 60,979, while the Nifty50 shed 0.20 point to 18,118.30 and formed bearish candle on the daily charts as the closing was lower than opening levels, with making higher high higher low formation for second straight session.

The broader markets closed lower and the breadth remained negative for yet another session. The Nifty Midcap 100 and Smallcap 100 indices fell 0.4 percent each.