Mr. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty rose for the second consecutive session on Jan 18 driven by positive Asian cues and dovish signals from Bank of Japan this morning. At close, Nifty was up 0.62% or 112.1 points at 18165.4. Metal stocks continued to rise post China reopening. Broad market indices rose less than the Nifty even as the advance decline ratio was up at 1.2:1.
Nifty has managed to build on the gains of the previous day. Now it could face resistance from 18265 while 18049-18072 band could provide support.