“In 2023, gold demonstrated remarkable returns, outperforming expectations and serving as a strong asset for investors amid economic uncertainties and market fluctuations.”
Germany s Dax was the top performer in the developed markets with 13.3% returns followed by Nasdaq 100 with 10.67% returns. The S&P 500 and Dow gave returns of around 9%. The rest gave returns between 6.40% and 8.52%.
Rupak De, Senior Technical analyst at LKP Securities said the mood will remain upbeat as long as the Nifty stays above 20,000 and will weaken only if there s a drop below 20,000. In his view, the Put writers will defend this level. For traders, a buy-on-dips strategy is recommended, he said, estimating the resistance at Rs 20,200-20,230. If this level is breached, the index could potentially move towards 20,450-20,500, De opines.