Street signs: Nifty to see sell-on-rise pattern, Jyoti CNC GMP at 23%, more

The grey market premium (GMP) of Jyoti CNC, whose initial public offering (IPO) is opening on Tuesday, is at 23 per cent above its issue price

Nifty50 may see sell-on-rise pattern
 

The benchmark Nifty50 is expected to witness selling pressure this week. Analysts said some nervousness is expected amid the announcements of December quarter results, set to begin this week. Moreover, global cues are turning unfavourable against the backdrop of tensions in the Red Sea and strong macroeconomic data in the US blurring the expectations of rate cuts by March. “Last week, the Nifty50 was unable to make new highs. 
 

And ‘sell on the rise’ may continue in largecaps. The broader markets will continue to do well. The support level for the Nifty50 will be at