Market Alert: Nifty Risks 24500 Sell-off Below 24900; Focus on Stock-Specific Plays
Business
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Moneycontrol•29-01-2026, 14:32
Market Alert: Nifty Risks 24500 Sell-off Below 24900; Focus on Stock-Specific Plays
- •Market technicals indicate a potential sell-off to 24500 if Nifty falls below the crucial 24900 level.
- •Shrikant Chauhan of Kotak Securities highlights 25150 as a key Nifty level; closing below it could lead to 25000-24900.
- •Pullbacks are not sustaining, and Nifty IT pressure is outweighing Nifty Bank's support, making upward movement difficult.
- •Investors are advised to be highly stock-specific, with buying opportunities identified in Bharat Electronics and Canara Bank.
- •Bharat Electronics could reach ₹455-470 (stop-loss ₹430), and Canara Bank targets ₹165 (stop-loss ₹154).
Why It Matters: Nifty faces a significant downside risk below 24900; investors should be stock-specific and cautious.
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