Tradebulls

After a sharp rally in the previous couple of sessions, it was a lackluster trade for the Indian market on December 18. However, the index being near its record high and maintaining its previous day's closing low, it seems that the momentum still lies with the bulls. Hence, experts see some more consolidation in the coming days, before the market gets into a strong mood with the resistance at 21,500 and support at 21,200 levels. On December 18, the benchmark indices retreated a bit with the BSE Sensex falling 169 points to 71,315, while the Nifty50 declining 38 points to 21,419. The India VIX, the fear index jumped to the highest level in the current financial year, making the bulls a bit uncomfortable. The VIX rose by 5.88 percent to 13.90 levels. This morning global cues are mixed with Wall Street notching overnight gains and Asian markets fixed ahead of BoJ decision. The GIFT Nifty is hinting at another muted session. Also among stocks in focus today, we put the spotlight on ONGC, RIL, Apollo Tyres, Nestle, Devyani International, Archean Chemicals among others. Catch Nandita Khemka in conversation with Sacchitanand Uttekar, Vice president- Research (Derivatives And Technicals) At TradeBulls Securities and Dhiraj Mathur IAS(Retd), Independent Director and Aviation Expert, Former Partner PwC and leader of Aero & Defence practice.

DAILY VOICE | As Nifty heads towards 13,500, mid & smallcaps to play catch up: Sacchitanand Uttekar of Tradebulls Securities

We see headwinds for Nifty only occurring at around the 13,590-mark, and nothing before that. For the coming week, the range continues to rest at 13,040-13,440.