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Post the very strong recovery in the headline index, the action is likely to shift to the broader markets and that is where incremental returns are going to be, says Hiren Ved, Director, CEO & CIO, Alchemy Capital Management.

Nifty opened flattish on Friday and moved southward through the day in line with the weak global cues. It breached Thursday’s low and fell by more than 250 points to 14,350 level. The index saw a decline due to profit booking as selling pressure emerged across sectors and closed the session with a loss of around 160 points. The index formed a bearish candle on the daily scale and negated the formation of higher lows of last six sessions.

In his first interview to the media since becoming the MD & CEO at Yes Securities, Prasanth Prabhakaran said that the major takeaway from 2020 was that leverage is a portfolio killer. "Habit of keeping emergency cash to deal with disruptions in markets or incomes is necessary. This cash will also be opportune for bargain hunting," he added.

In a session typical of any weekly options expiry day, the domestic equity market traded much on the anticipated lines. However, it also continued to show inherent strength and strong undercurrents as it played out its usual template of some profit taking bout and then recovery during the day, while ending with a modest gain.

Nifty opened flattish on Thursday, saw a slight dip in the initial hour of trade and then bounced back to 14,600 level. It remained rangebound in the second half of the session but managed to close with a gain of around 30 points. The index formed an Inside Bar and a bullish candle on the daily scale with long lower shadow, which indicated that declines were being bought into.

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 60 points loss.

The recovery in afternoon trade helped the market end at a record closing high on January 14, supported by index heavyweights. The overall market breadth has also recovered towards the close after showing a negative sign in the early part of the last session.

I do not think bull markets end because the valuations have reached certain PE multiples, says Hemang Jani, Equity Strategist & Senior Group VP, MOFSL

The domestic equity market interrupted its unstoppable up move on Wednesday as it witnessed heavy consolidation on expected lines. After a smart and strong opening, headline index Nifty tested yet another lifetime high as it marked the high point for the day. However, the morning session had Nifty paring its opening gain and eventually trading flat.

Nifty opened with a gapup on Wednesday and made a new lifetime high at 14,653 in the initial tick. However, it could not sustain at higher level and slipped almost 220 points thereafter to test the intraday low of 14,435 level. The index witnessed a decent recovery in the concluding hour from lower levels, and settled the day on flattish note. It formed a Bearish Belt Hold sort of candle on the daily scale with a long lower shadow, which indicated that every decline was being bought into and the overall bullish undertone remains intact.

The market rallied to fresh record high levels in the early session on January 13 but slipped into the negative territory in the late morning deals. Later, it recouped losses to settle flat but failed to hold on to early record high levels.

The Nifty50 on January 13 recovered smartly from the day's low to close flat but failed to regain opening gains. The contraction in factory output for November and concerns over the upcoming Union Budget weighed on the sentiment.

In a volatile trading session, Sensex ended 303 points down from day’s high while Nifty 50 managed to hold above 14,550 as both the benchmark indices closed the trading session flat. Broader markets too closed in the red, except Nifty Smallcap 50, up 0.12%. Among Nifty sectoral indices, only Nifty Realty, Nifty Pharma, and Nifty Financial Services closed the day with losses. Nifty PSU Bank index zoomed 3.27%. Mahindra & Mahindra shares gained 6% while State Bank of India jumped 4.8%. India VIX, the volatility index gained 1.94% to end the day above 23 levels.

Nifty opened flattish on Tuesday and surged throughout the session after a slight dip in the initial hour of trade, heading towards a new lifetime high of 14,590. The bulls have been on the go relentlessly, and are touching new highs every session. The index witnessed some consolidation in the last hour of the session, but finally settled with a gain of around 90 points.

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 39 points gain. The BSE Sensex climbed 247.79 points to 49,517.11 on January 12 while the Nifty50 finally crossed the 14,500-mark, up 78.70 points to 14,563.50. According to pivot charts, the key support levels for the Nifty are placed at 14,467.3, followed by 14,371.1. If the index moves up, the key resistance levels to watch out for are 14,625.2 and 14,686.9.