A morning walk down Dalal Street | Close below 10,630 could trigger further sell-off

A lackluster day for D-Street but the good part is that Nifty managed to hold onto 10600 levels on a closing basis on Wednesday ahead of January F&O expiry.

The broader markets outperformed the benchmark with BSE Midcap and Smallcap ending with healthy gains of 0.3% and 0.8% respectively. 

The market is likely to remain volatile as traders will rollover their positions from January series to February series. The Nifty Fut rollover stands at 47% ahead of expiry, data showed.

It looks prudent on the part of traders to remain on sideline till the events i.e. expiry and Budget are cleared out of the way. Till that time, investors can deploy sell on the rise going ahead with 10720-10750 as the key area where one can look to initiate a fresh sell position.