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Live: Will Nifty extend budget week cheer? SBI Q3 misses; Tata Motors impresses| Paytm in focus

Benchmark Nifty 50 is expected to be volatile in coming sessions after hitting record high on February 2. According to experts, for further uptrend, the index has to give a strong closing above its new record high 22,134, otherwise till then, the volatility may sustain with support at 21,700, and 21,500 is expected to be key support. On February 2, the BSE Sensex rallied 440 points to close at 72,086, while the Nifty 50 surged more than 400 points intraday and hit a new record high, but lost 280 points from that high to settle with 156 points gains at 21,854. It was up 2.35% for the budget week. The broader markets also closed off day's high with the Nifty Midcap 100 and Smallcap 100 indices gaining 0.4% and nearly 1% respectively. This morning global cues are mixed with Wall Street notching fresh record on Friday and Asian markets giving mixed signals. The GIFT Nifty is indicating a start above the 21,900 mark. Catch Nandita Khemka in conversation with Pramod Gubbi, CFA & Co founder, Marcellus and Rajesh Palviya- Senior Vice President Research Head - Technical & Derivatives at Axis Securities.

first published: Feb 5, 2024 08:33 am