Gains in the market were led by banking stocks following strong earnings reported by ICICI Bank over the weekend. Nifty Bank, the banking sub-index of NSE was up 6.31%.
Every trend digests a lot of weaker hands and moves up higher. The higher the number of traders trapped, the fierce could be the next trend. Understanding Friday’s abrupt 1000-point fall on Bank Nifty
There is not too much of a build up on the short side for the Nifty Futures, which indicates that you might see a bit of a mix and match kind of a price action, says the independent market expert Kunal Bothra.
Even though we closed the week a little soft, it was a record-making week. What is your analysis of the trend going forward?
The start of the week was quite promising. We had a touch and go moment towards 50,000 in the mid of the week. But we cannot say that was a happy ending for the week. On Friday, we saw it was a shake off for the indices. Many of the market participants who were just rigidly bullish were expecting every kind of a dip; whether it is a 100-point dip on the Nifty or 200-300 points dip on the Bank Nifty, to get bought into. So they were in for a bit of a surprise.
Updated Jan 21, 2021 | 07:23 IST
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Key Highlights
Tata Motors, CEAT, Balkrishan Industries too gets a thumbs up
As the economy resumed its economic activities, auto sector rebounded sharply and shrugged off COVID-19 blues. Experts believed that it was the pent-up demand that got unleashed, so will the performance continue from here on?