Street signs: Nifty may consolidate, air cooler makers may see gains & more

Nifty may consolidate in Jan series

The Nifty50 ended the December expiry series with losses of 1.9 per cent. The index shouldn’t see a serious drawdown if it stays above 17,350 in the near term and 17,100 (100-DMA) in the coming sessions, according to analysts. "In case of any breakdown, the intensity of the fall can lead markets (Nifty50) to touch 16,400 in a short span of time. The medium-term resistance is placed at 17,800-17,950 levels. We expect the index to consolidate and trade in a range, while action will continue in client category dominant mid- and small-cap space," said a