Indian equity markets slipped on Monday, with the Sensex down 0.38% and the Nifty 0.30%, as investors reacted to fresh geopolitical tension after a US operation in Venezuela.
Market Overview
Global cues were mixed. Asian markets were largely positive – Japan's Nikkei and South Korea's Kospi each rose over 3%, China’s Shanghai Composite gained about 1%, and Germany’s DAX added a little over 1%. Europe’s FTSE and France’s CAC 40 also closed in the green, showing that the US‑Venezuela action did not shock world markets.
Key Index Moves
- Sensex: Fell 322 points to 85,439.62 (-0.38%).
- Nifty 50: Dropped 78 points to 26,250.30 (-0.30%).
- Mid‑cap index: Slightly up 0.05%.
- Small‑cap index: Up 0.07%.
Trading Outlook
Technical charts show the Nifty’s value‑area support around 26,200 may act as a floor. If the index can hold above 25,200, the short‑term bias stays bullish. However, profit‑taking near the median resistance line could limit further gains before the next expiry.
Recommended Stocks (as of 6 January)
- SAIL – Current price ₹151.10. Buy above ₹151, stop loss ₹146.50, target ₹161. (Multi‑day)
- Voltas – Current price ₹1,476.80. Buy above ₹1,480, stop loss ₹1,450, target ₹1,540. (Multi‑day)
- SBI Life – Current price ₹2,075.60. Buy above ₹2,080, stop loss ₹2,050, target ₹2,130. (Intraday)
These picks were suggested by Raja Venkatraman of NeoTrader, who looks at price patterns, volume and momentum to spot short‑term opportunities.
Disclaimer
Investing in stocks involves risk. The views shared here are those of the analyst and not a guarantee of future performance. Always do your own research or consult a certified advisor before making any investment decisions.