F&O Talk: Big break above 23,200 can open doors for 23,500 for Nifty; Sudeep Shah picks 6 stocks ahead of Diwali
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- ✓Nifty could extend its recovery towards 23,500 if it breaks above the 23,150–23,200 resistance zone, says SBI Securities' Sudeep Shah.
- ✓The Nifty 50 advanced 116 points to settle at 23,053 on Friday.
- ✓Shah also shared his outlook on six stocks, including TVS Motor and ICICI Bank, ahead of the Diwali festival.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 8 Minute(s)
- Market Focus
- India Economy
Synopsis
Nifty could extend its recovery towards 23,500 if it decisively breaks above the 23,150–23,200 resistance zone, says SBI Securities' Sudeep Shah. He also shares his outlook on IT, midcap and smallcap indices, sector trends and six stocks, including TVS Motor, Coforge and ICICI Bank, ahead of Diwali.
Indian benchmark indices Sensex and Nifty ended the week in positive territory, gaining up to 0.5%, even as broader markets witnessed a sharp sell-off amid mounting headwinds, including a surge in oil prices above $117 a barrel.
The Sensex rose 308 points to close near 74,460 on Friday, while the Nifty 50 advanced 116 points to settle at 23,053. In contrast, broader markets came under heavy selling pressure, with the Nifty Midcap 100 and Nifty Smallcap 250 indices declining up to 2%.
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The Economic Times
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