Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty recovered its early losses on Dec 05 to close almost flat (+0.03% or 4.9 points at 18701). Mixed global cues resulted in see-saw movement in the Nifty. Smallcap index outperformed the Nifty. Cyclical sectors were in favour while defensives corrected. Global markets were mixed as optimism over easing China Covid restrictions was offset by expected path of US rate policy post the jobs report on Friday. Nifty has formed a hammer like mildly bullish pattern. 18614-18782 could be the band for the Nifty in the near term.