Morning Market Quote : Nifty`s 17800-18200 range has been holding for sometime now Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote on Morning Market 23 January 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Nifty’s 17800-18200 range has been holding for sometime now. To break the upper end of the range, the market needs positive triggers. Early Q3 results broadly have been positive with IT companies and banks delivering good results. This trend continues with the latest results from ICICI and Kotak Bank. Reliance, too, has delivered a decent set of numbers. Positive news from the Fed meeting outcome and the Union Budget on 1st February can break the upper band of the Nifty range and take the market higher. On the contrary, if the Fed message and the Budget deliver negative news, the lower end of the range can be broken. Sustained FII selling is a near-term negative. Investors may wait for and watch these crucial numbers.
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