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The Nifty future closed negative with losses of 0.37% at 21861 levels on Friday. India VIX was down by 4.21% from 15.14 to 14.50 levels. Volatility cooled off after steaming to higher zones and respected the bulls at higher zones.

When the closing price rises above the VWAP, it signifies that the closing price is higher than the average price at which it was traded throughout the day, with the average being weighted by trading volume. ​

Abhinandan Tulsian says: "The Indian economy is on a long-term high growth trajectory. Any industry meeting the demands of the economy for the next 10-20 years is something we like. These are not necessarily dependent on election results, but on the policy making direction. I will advise clients to pick a core portfolio of blue chips which provide portfolio stability, but also have 4-5 stocks which are from sunrise sectors and likely to give alpha returns to the portfolio."

While no one is yet expecting Nifty to repeat 2023-like 20% annual return, the consensus target seems to be hovering around the 23,000-mark as most of the positives expected in the new year are already priced in.

As of December 29, there was a notable surge in futures open interest for four stocks in the NSE F&O pack index, contributing to a total increase in open interest of over 20% as compared to the previous trade.

Sanjiv Bhasin says: “At least till March-April, the market belongs to Reliance and Adani because if the index has to do well, largecap stocks will have to do much better. Last year, value got preference ahead of growth. I would say Reliance and the Adani group should lead the market in next four months.”

These stocks include Sona BLW Precision Forgings, Avanti Feeds, and Dabur

Short-term traders can look to buy the stock for a possible target above 4000-4300 levels in the 2 months, suggest experts

SAndip Sabharwal says: “This result season will be more volatile than the earlier ones. Now the key for investors is to try to look out for opportunities as the results come out and as some disappointments create sell-offs in some stock we might be interested in. In the first two months of this year, we should be a bit careful and if there is a decent correction then that could give buying opportunities.”

An ETMarkets poll of 23 analysts from Dalal Street shows that most analysts see Nifty ending at 23,000. In the base scenario, Axis Securities sees Nifty at 23,000 in December 2024 by predicting that earnings will grow at 14% CAGR over FY23-26