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Live: Will Nifty make a dash at 22,600 amid positive cues? Strong Q4 update from DMart| Opening Bell

The market continued to consolidate in a tight range for last three sessions, especially after hitting a new high on the Nifty 50 in the start of current week. Hence, unless and until the index decisively surpasses the 22,500 in coming sessions, the consolidation may continue with the immediate support at 22,300 level, experts said, adding above 22,500, 22,700-22,800 are the levels to watch on the higher side. On April 3, the benchmark indices ended moderately lower after consolidation. The BSE Sensex declined 27 points to 73,877, while the Nifty 50 fell 19 points to 22,435. Meanwhile, the consistent decline in India VIX, the fear index, for three consecutive sessions has put bulls in a comfortable position as it was down 2.4 percent at 11.37 level, the lowest level since November 24, 2023. The broader markets remained higher for yet another session as the Nifty Midcap 100 and Smallcap 100 indices gained half a percent and 1.2 percent respectively. Among stocks in focus will be Vodafone Idea, RIL & ONGC as govt hikes windfall tax on crude to Rs 6,800/tonne from Rs 4,900/tonne. Catch Nandita Khemka in conversation with Feroze Azeez, Deputy CEO, Anand Rathi Wealth and Chandan Taparia, Senior VP, Head-Derivatives & Technical Research, Motilal Oswal.

first published: Apr 4, 2024 09:23 am