​​If the Nifty crosses and sustains above 18,200 level, it would take the index towards 18,500 levels, analysts said. HDFC Bank, TCS, L&T, UltraTech Cement, Sterlite Technologies, Persistent, ONGC, Coal India, and Vedanta are some of the stocks that look bullish on charts, according to analysts.

We feel participants should maintain their focus on stock selection amid the prevailing consolidation phase in the index and wait for a decisive breakout on either side. Going ahead, the upcoming earnings announcement of index majors might provide the needed trigger. Besides, global cues, especially the performance of the US indices, will remain in focus.

HUL, Asian Paints, Bajaj Finance, JSW Steel and Nestle India were among the top losers on NSE in today's trade.

Baid Leasing, Arihant Academy Ltd., Hisar Metal Ind, Sterling Tools and Shreeoswal Seeds, hit their fresh 52-week highs during the day.

The NSE Nifty index closed 80.2 points down at 18027.65

HUL, Asian Paints, Bajaj Finance, JSW Steel and Nestle India were among the biggest losers on the Nifty, while Coal India, HDFC Bank, Power Grid Corporation, HDFC and ITC ended on top of the heap

​Now some people might be happy not to create wealth but most people in my generation, most of my client base want to create a degree of wealth for themselves and I am afraid that is not going to come from investing in fixed deposits in a country like India, that is only going to come from investing in high quality equities.

Asian Paints numbers are quite disappointing in terms of the kind of volume growth they reported as well as the overall growth so it was a significant miss.

The NSE Nifty index was trading 21.35 points up at 18129.2

The NSE Nifty index was trading 1.9 points down at 18105.95

"When stocks move from under ownership to adequate ownership, prices spurt," said VK Vijayakumar, chief investment strategist at Geojit Financial Services. "The sudden change in earnings and improving prospects have led to a market re-rating which has resulted in spurt in stock prices."

But what we need to really look at from now on is that at such high valuations one has to really look at what is the trend in terms of volume growth because you know after a point of time when you have gained a lot of market share you become a proxy to the industry and hence your growth starts to taper off.

On the BSE, the power index shed a percent, the auto index 0.5 percent and the FMCG index fell 0.8 percent. The metal index added 0.57 percent

Adani Ent., Asian Paints, Tata Motors, IndusInd Bank and Kotak Bank were among the top losers on NSE in today's trade.

The NSE Nifty index closed 57.5 points down at 18107.85

Mold Tek Tech, Hisar Metal Ind, Chembond Chem, GRP Ltd and Atul Auto, hit their fresh 52-week highs during the day.

Tata Steel has given a strong breakout from multiple resistance zones with a sharp surge in volumes. The momentum indicator RSI (relative strength index) has given a positive crossover and surpassed the level of 60, which confirms the buy signal.

"After the adverse performance during the last one and a half months, the Indian market has been advancing in the last 2-3 trading days. The trend is supported by the marginal improvement in FII inflows and upside in domestic investments. The domestic investors are adopting a buy on dip strategy,” Vinod Nair, Head of Research at Geojit Financial Services, said.

The NSE Nifty index was trading 69.0 points down at 17826.7

The NSE Nifty index was trading 75.15 points down at 17917.0

The NSE Nifty index was trading 65.7 points down at 17926.45

Lambodhara Text, Rama Steel Tubes, Jagran Prakashan, Salzer Electro and Tainwala Chem, hit their fresh 52-week highs at 10:40AM.

Coal India Ltd, Bajaj Finserv, IndusInd Bank, JSW Steel and ICICI Bank were among the top losers on NSE.

The NSE Nifty index closed 189.6 points down at 18042.95

JSW Steel, Hindalco, Coal India Ltd, Tata Steel and ONGC were among the top losers on NSE in today's trade.

The NSE Nifty index closed 189.6 points down at 18042.95

Alkali Metals, TVS Electronics, BLB Ltd., Lambodhara Text and SecUR Credentials, hit their fresh 52-week highs during the day.

Hindalco, JSW Steel, Coal India Ltd, ONGC and IndusInd Bank were among the top losers on NSE.

The NSE Nifty index was trading 97.55 points down at 18135.0

SecUR Credentials, BLB Ltd., Radiant Cash Management Services Ltd., Pritika Engineering Components Ltd. and Jindal Worldwide, hit their fresh 52-week highs at 10:51AM.

The NSE Nifty index was trading 103.55 points down at 18129.0

We find the landscape flipped now with China policies turning supportive and the big earnings cut for Tata Steel and Hindalco behind. We believe a sequential improvement in quarterly EBITDA trend for Tata Steel and Hindalco in 2023 will help drive stock performance, Jefferies said.

SBI Life, ICICI Bank, Bharti Airtel, Grasim Inds. and Eicher Motors were among the top losers on NSE in today's trade.

The NSE Nifty index closed 85.7 points down at 18105.3

"The performance of 2022 has been as per the trend observed over the past 10 years. Whenever Sensex provided returns of over 25% in a calendar year, the following year has seen a muted return," said Sunil Sanghai of NovaaOne Capital.

Avro India, Pritika Engineering Components Ltd., Mold Tek Tech, Baheti Recycling Industries Ltd. and Tainwala Chem, hit their fresh 52-week highs during the day.

Nifty had topped out in October 2021 at around 18,600 level after which it had a multi-month correction that developed in a downward sloping channel. The index received support near the lower channel line in June-July 2022 and started moving higher.

This stock recently touched its 52-week low and in the last 15 years, only 1.11% of trading sessions saw intraday gains higher than 5%. “It is so boringly safe that nobody loves it,” said Sekhar.

Promoters held 66.13 per cent stake in the company as of 30-Sep-2022, while FIIs owned 6.54 per cent, DIIs 22.36 per cent.

US stocks finished sharply lower on Wednesday, as investors assessed economic data on the housing market amid concerns over rising interest rates and economic growth in 2023. US stocks fell for a second day on concerns that the end of Chinas zero-Covid policy could lead to a rise in cases around the world.

“2023 would be the year in which people will probably put money in companies where they have shown the ability to create newer models and particularly the electric vehicle models. If Bajaj Auto is saying that they would launch two or three new vehicles in the current year, it is quite possible that we might see a surprise coming in from Bajaj Auto in this particular two-wheeler pack.”

SecUR Credentials, Usha Martin, Network People Services Technologies Ltd., Ascom Leasing & Inve and Gretex Industries, hit their fresh 52-week highs during the day.

The NSE Nifty index closed 207.8 points up at 18014.6

As we look ahead, the profitability of PSUs is shooting up across domestic as well as global cyclical with a turnaround in the fortunes of PSU Banks driving the overall trend. Higher commodity prices over the past two years have aided the P&L and balance sheets of Metals/O&G PSUs.