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While inheriting positive global cues, the market may start positive for the week. The coming week is likely to see the levels of 18,040 and 18,290 acting as potential resistance points. The support will come in at 17,600 and 17,480 levels. The trading range may get a bit wider this week.

Noting that while the competitive intensity with respect to metal pricing continues, it recorded a sequential expansion in its gross margin, driven largely by the improvement in both studded share and share of revenue from non-south markets.

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Now the situation is such that Mr X had already invested in a few largecap stocks like Reliance Industries, TCS, HDFC Bank, etc., which are a part of his largecap mutual fund. This unnecessary diversification has increased Mr X’s exposure in a few stocks.

We may see a bit of a slowdown for IT over next six months. So, two-quarters of more pain and then as the recession fear starts going off towards the end of the year, we could see IT coming back in favour. Markets will react three months in advance, they will give us a chance earlier but right now we are expecting lower markets going ahead.

"It has been a tough start to 2023 so far because the markets had to grapple with a lot of volatility. I think the bigger part of the volatility was the uncertainty."

After a healthy recovery over the last two-three months, 2W demand momentum has slowed down again, resulting in an expected decline of 5-7% YoY for retail volume in Dec’22.

At this point in time, both Nifty and Bank Nifty are hovering near their recent lows. For Nifty, a fresh round of selling would emerge below 17,775 whereas for Nifty Bank, the support is placed at 41,500.

The broader index ended December on a sombre note, losing 3.5%. Foreign Institutional Investors (FII) withdrew every single day last month barring one instance on 6th December, displaying their pessimism.

With increased interest from HNIs & ultra HNIs in alternate assets, particularly in SEBI-approved alternative investment funds (AIFs), we may see tax clarity coming in for the CAT III AIFs, which will be a welcome move from the industry as well as from the investors’ viewpoint.