Nifty down by more than 100 points from days high of 16919.9 By Yash Gupta, Angel Broking
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Market trembles, Nifty down by more than 100 points from days high of 16919.9. Auto and IT index leading the way ahead while bankex and metal are dragging nifty down.
In auto, tyres stock trade higher after the extraordinary results from JK tyres and better than expected result from bajaj auto. We expect the market to be volatile till the budget. On upside 14700 will be a hurdle for nifty and 14300 on down side till this expires on 28th January 2021. We suggest Long Investors should be cautious on the market and can have some cash in their portfolio to buy on dips and Intraday traders to trade with strict stop loss
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
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