Dear
Trader…
Markets began the week on a weak note, influenced by global
cues, and declined by over half a percent. After opening with a gap-down, Nifty
future fluctuated between gains and losses before settling at 23442.75. Among
sectors, IT posted decent gains, while pharma and auto saw marginal upticks. In
contrast, energy, metal, and FMCG were the top laggards. The broader indices
mirrored the benchmark’s trend, slipping nearly 1%-2%.
Concerns over Trump’s tariff announcements overshadowed the
budget’s impact, pushing the index toward its 20-week EMA, signaling caution
amid consolidation. This phase may continue, with global cues, corporate
earnings, and the upcoming MPC meeting playing a key role in market direction.
Investors are advised to remain cautious and manage positions on both sides.
Nifty futures opened at 23390 points against the previous
close of 23555 and opened at a low of 23305 points. Nifty Future closed with an
average movement of 157 points and a decline of around 112 points and 23442 points…!!
On the NSE, the midcap 100 index will decline 0.93% and smallcap
100 index is closing decline 2.13%. Speaking of various sectoral
indices, the NSE saw gains in only IT, Consumer Durables, Healthcare, Pharma
and Auto stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, February gold opened at Rs.81799, fell from a high of Rs.82820
points to a low of Rs.81799 with a rise of 849 points, a trend of around Rs.82820
and March Silver opened at Rs.92699, fell from a high of Rs.94045 points to a
low of Rs.91725 with a rise of 646 points, a trend of around Rs.93860.
Meanwhile, the
global market got unsettled amid the onset of the ‘Trade War,’ as tariff
conflicts between the US and other nations are unlikely to yield any economic
benefits. Instead, it may cause challenges to the global economy, heightening
global financial risks.
International
trade, which had flourished under the framework of globalisation, now faces
threats from the new protectionist policies. Front and contour tariffs are
expected to make the world less efficient and elevate global inflation &
interest rates.
Technically,
the important key resistances are placed in Nifty future are at 23533 levels,
which could offer for the market on the higher side. Sustainability above this
zone would signal opens the door for a directional up move with immediate
resistances seen at 23606 – 23676 levels. Immediate support is placed at 23202
– 23088 levels.
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