Trade Strategy for Tuesday, 23 Jan 2024: Stocks In Focus and Nifty Performance Expectation

The Indian Stock market is closed on 22 January 2024 due to the Saturday opening and public holiday in Maharashtra. We will have a look at the important points to remember while trading on Tuesday 23 Jan 2024. The market will have a visible impact tomorrow for sure. The US and European markets closed positively. While Nifty closed around 21,571. The market emotions are expected to be positive having a chance for a rally on Tuesday. Let us explore more Trade Strategy for Tuesday 23rd Jan 2024 below.

Trade Strategy For tuesday, 23 Jan 2024: Stocks In Focus and Nifty Performance Expectation

The market expects to open with a gap up. After the Ram Mandir’s inauguration, the market seems to open with a positive sentiment. Therefore, chances are high for a market rally. However, it is important to remember to avoid aggressive buying. It can lead to a high possibility of a loss in the market. Many follow the strategy of giving a ten-minute gap during the fall. If the market rises after the period, it is a better chance to buy, as per several market experts. The experts prefer 30-40 points of the first target. The second target is between 70-80 points. While the third target at 100-130 points. So if you took the trade at 21,760, the first target will be 21,790 to 21,800. You can keep adding further. If the market seems to be moving downside, the targets can be 30-40 points and 60-80 points.

The Bank Nifty has made more smooth movements in the past few days. The market has chances for an upside rally. The target can be 100-200 points first, 200-220 points, and 220 to 300 points as the third target. The downside target can have 80-100 points as the first target, and 120-200 points second target. Ram Mandir plays an important role in keeping the Nifty fall. As the economy gets boosted, employment also gets increased. Apart from that, the chances are that the market does not fall much before the budget as well.

The budget will be released on 1 February. Thus, this week is a special week for the market. The market has special events coming this week. The first special event is the inauguration of Ram Mandir. The second is Republic Day. While the third is the budget release. We will update you more about the market updates shortly. These points play a crucial role in the market analysis for tomorrow. However, these are merely an opinion and not facts. We hope you get enough details about Trade Stategy for Tuesday 23 Jan.

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