Street Signs: Cracks in the SIP wall, GMPs for Hexaware and Ajax modest

After climbing to a record in December, systematic investment plan (SIP) closures remained high in January, according to mutual fund (MF) industry executives

Locked at 23,800: Will Nifty find the key?

 

The National Stock Exchange Nifty 50 index, up 773 points (3.4 per cent) from its recent low, is struggling to break past the 23,800 resistance level, say technical analysts. A decisive move above this mark is key for an upward trend. “A strong buying push is needed to clear this level; until then, traders should book profits periodically,” said Rajesh Bhosale, technical analyst at Angel One. “The market may remain range-bound between 23,250 and 23,800 in the near term, with a breakout potentially reigniting momentum.” Ajit Mishra, senior vice-president of research at