Hot stocks market today | Nifty and bank nifty

The market ended in the negative territory but managed to recover from its intraday lows on January 2. The Nifty maintained its position above 21,600, while the Sensex experienced a decline of 379 points, closing at 71,892. The Nifty recorded a decrease of 82 points, settling at 21,660. The Nifty Bank lost 521 points to close at 47,713, and the Midcap Index slipped 73 points to 46,400.

The Nifty is hovering near the resistance level at 21,800, with 21,550 serving as an immediate support. A drop below 21,550 could lead to profit-booking, targeting the 21,350 level. The market is anticipated to display sideways movement with increased volatility.

In the case of Bank Nifty, it is encountering resistance at the 48,000 levels, while 47,400 acts as an immediate support. Further support levels include 47,200 and 47,000. On the upside, the immediate resistance area is 48,000–48,200, and surpassing this could lead to a target zone of 48,600.