The Nifty 50 is likely to consolidate around the 23,000 mark in the coming sessions and may once again attempt to hit the upper band of the rising channel (placed around 23,100-23,200).
The market s mood is expected to remain upbeat, albeit highly volatile, as it approaches the exit poll as well as the general election results, according to experts.
Share Market Highlights 15 May 2024: Sensex, Nifty edge down; Coal India spikes up 4% thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Based on the OI percentage, 82 stocks saw long unwinding, which included Abbott India, Havells India, Ipca Laboratories, Oberoi Realty, and Aditya Birla Fashion & Retail.
Aditya Agarwala of Invest4edu discusses market insights including key levels for Nifty and Bank Nifty. He anticipates resistance at 50,000 on Bank Nifty and a potential new all-time high for Nifty around 23,000. Aurobindo Pharma is one of his picks. At current levels, one can initiate fresh long in the stock for a target of Rs 1,300 on the upside with a stop loss at Rs 1,120 on the downside. The second stock is Astral. This is one stock which has clearly bucked the trend and has been making higher highs and higher lows.