Wall Street experiences an early Christmas as the Fed hints at easing interest-rate policy in 2024. Nifty is poised to surge into uncharted territory, with a trading range of 20,500-21,500. Notably, the 21,400 mark emerges as a crucial resistance zone. Amidst a positive landscape, including a record Dow Jones close and FIIs investing Rs 20,494 crores in December, traders anticipate a bullish tone with hopes for an economic soft landing. The recommended trades involve buying Nifty at CMP with targets at 21,300/21,551 and aggressive targets at 21,751-22,000. Similarly, Bank Nifty is suggested for purchase at CMP, with aggressive targets at 49,501-50,000. The spotlight is on BANK OF BARODA, SUN PHARMA, AUROBINDO PHARMA, ZOMATO, PERSISTENT SYSTEM, and MUTHOOT FINANCE for bullish prospects. Additionally, Bank of Baroda is identified as the top stock to buy, with a CMP of 220, a stop at 213, and targets at 225/231, emphasizing a breakout play.


 

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