Amidst a prevailing atmosphere of pessimism, the Nifty faces a challenging start to the new year, marked by significant volatility and profit-taking on Dalal Street. While the first three trading days reflect a downturn in equity, caution is advised against premature panic. Wall Street's continued decline, a dip in bets for early rate cuts by the Fed, and elevated yields on the US Treasury note contribute to the apprehension. The Nifty's technical landscape sees bears capitalizing on overbought conditions, with key resistance at 22000 and support at 21307. The outlook is shadowed by anxiety over weak IT stock earnings. Trading strategies involve cautious moves on Nifty and Bank Nifty, while bullish prospects are highlighted for ADANI PORTS, COAL INDIA, ZEE ENTERTAINMENT, and SBI. The recommended stock to buy is ZEE ENTERTAINMENT, with an interweek strategy based on a breakout play.