: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,075-23,150 levels and a strong buy zone at 22,975-23,050 levels for the headline Nifty50 index on Friday, January 24. For the Nifty Bank, he expects support at 48,075-48,300 levels and a strong buy zone at 47,800-48,000 levels. 

The market wizard points out that the Nifty50 is tending to take support near the 23,000 mark, a level where FIIs don't want to sell heavily either. 

There is a possibility of short-covering in the market in the week of the monthly F&O expiry, he says. 

A slide below 22,800 only will bring fresh weakness in the market whereas a close above 23,350 will mean the return of strength on Dalal Street.

The market wizard sees a higher zone at 23,300-23,400 levels and a profit-booking zone at 23,425-23,525 levels for the headline index.  

For the banking index, he sees a higher zone at 48,875-49,075 levels and a strong sell zone at 49,225-49,450 levels.  

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HPCL 

Indus Towers 

Mphasis 

• Results in line with expectations
• The stock has already risen ahead of results
• Mphasis futures have support at Rs 2,810 and an expected higher level at Rs 2,980