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Live: Can Nifty conquer mount 22,000 and end the year in style? Outlook 2024 with Andrew Holland

Indian equity market is expected to maintain its bullish run given the significant consolidation breakout ahead of the monthly expiry of derivative contracts on December 28. The Nifty 50 is likely to face immediate resistance at 21,700-21,800 levels, followed by the 22,000 mark, considering the higher highs, higher lows formation and positive momentum indicators, while the 21,500, which acted as a resistance, is expected to be support for the index, experts said. On December 27, the benchmark indices ended at fresh record closing highs. The BSE Sensex climbed above the 72,000 mark for the first time, rising 702 points to 72,038, while the Nifty 50 surged 214 points to 21,655. Meanwhile, the volatility jumped to the highest level since March 20 this year, which experts feel may make the trend unfavourable for bulls. The India VIX rose 6% to 15.56 levels. This morning global cues are positive with Wall Street poised to clock its ninth-straight winning week and the GIFT Nifty hinting at a fresh high above the 21,700 mark. Also among stocks in focus today, we put the spotlight on Canara Bank, NTPC, Zomato and LIC among others. Watch out for Sachin Tendulkar-backed Azad Engineering, that makes its stock market debut today. Catch Nandita Khemka in conversation with Andrew Holland-- Chief Executive Officer, Avendus Capital Public Markets Alternate Strategies LLP and Osho Krishan, Senior Analyst - Technical & Derivative Research, Angel One.

first published: Dec 28, 2023 08:34 am