NSE Nifty 50 successfully held the 22,725 support levels, strengthening the demand zone around 22,700, according to Hrishikesh Yedve, assistant vice president of technical and derivatives research at Asit C. Mehta Investment Intermediates Ltd.

“The 21-Day Simple Moving Average at 23,200 continues to act as an immediate obstacle, and a decisive move above this level could ignite new bullish momentum,” he said.

According to Hrishikesh Yedve, Bank Nifty has formed a red candle, while on the weekly chart, it shows a small green candle, indicating indecisiveness.

“Bank Nifty is currently consolidating within the 48,500-49,650 range, and a breakout on either side will determine the next directional move. Traders should closely look at these levels for potential trading opportunities,” he said.

For Nifty 50, the initial hurdle is between 23,000 and 23,150, aligning with the 20-day exponential moving average, according to Osho Krishnan, senior analyst, technical and derivatives of – Angel One.

This will be followed closely by 23300-23350 levels, which marks the upper band of the wedge pattern, Krishnan said.

“It is only through a decisive breach of these resistances that some relief and upward movement may be restored for market participants, potentially providing a much-needed boost to investor confidence,” he added.

Market Recap

The Nifty and Sensex ended lower for the fourth consecutive session on Friday, as Mahindra & Mahindra Ltd. and ICICI Bank Ltd. underperformed.

The NSE Nifty 50 ended 117.25 points or 0.51% lower at 22,795.9, while the BSE Sensex closed 424.9 points or 0.56% lower at 75,311.06.

F&O Cues

  • The Nifty February futures were down 0.62% to 22,822.60 at a premium of 26.7 points, with the open interest down 7.99%.

  • The open interest distribution for the Nifty 50 Feb. 27 expiry series indicated most activity at 24,000 call strikes, with the 22,000 put strikes having the maximum open interest.

FII/DII Activity

Foreign portfolio investors stayed net sellers of Indian equities for the third straight day on Friday as they net offloaded stocks worth approximately Rs 3,449.2 crore.

Domestic institutional investors stayed net buyers for the 13th straight session as they bought equities worth Rs 2,884.6 crore, according to provisional data from the National Stock Exchange.

Stocks To Watch

  • Swiggy: The company to make an investment of up to Rs 1,000 crore in one or more tranches in its subsidiary—Scootsy Logistics.

  • Bajaj Auto: The company will make an investment of €150 million in Netherlands-based arm Bajaj Auto International.

  • Aster DM Healthcare: The company will make an investment of Rs 850 crore in Kerala in next three years.

Global Cues  

Stocks in the Asia Pacific region slipped on Monday following Wall Street’s worst session this year as economic data points remained muted.

South Korea’s Kospi fell 0.98%, or 25 points, to 2,629 while Australia’s S&P / ASX 200 was down 0.08% at 8,289 as of 6:28 a.m. Japanese markets are closed on Monday for a holiday. 

Future contracts in China hinted at a positive start, while those in Hong Kong were poised to open lower. China, on Saturday, told the US to stop politicising and weaponising economic and trade issues, as Washington tries to limit overseas investments by Beijing.

Meanwhile, the euro strengthened after Germany’s conservative leader Friedrich Merz said he’ll move quickly to form a new government following his federal election victory.

The US dollar remained weak while the stocks got hammered on weaker-than-expected economic data and a surge in consumers’ long-run inflation view. The S&P 500 fell 1.7% while the Nasdaq 100 slipped 2.1%. The Dow Jones Industrial Average declined by 1.7% on Friday.

The dollar index — which tracks the greenback’s performance against a basket of 10 leading global currencies — was 0.3% down at 106.29. The benchmark yield fell eight basis points to 4.43%,

Inflation data in Singapore and South Korea’s retail sales data will be the key data points in Asia on Monday.

Crude oil prices began the week lower as Donald Trump’s tariff threats cooled down. The Brent crude was down 0.15% at $74.32 a barrel as of 6:45 a.m. IST, and the West Texas Intermediate was down 0.24% at $70.23.

Money Market Update

The Indian rupee ended weaker against the US dollar on Friday. The local currency closed 5 paise lower at Rs 86.71 against the greenback, according to Bloomberg. It had opened stronger at Rs 86.48, after closing at Rs 86.66 on Thursday.

. Read more on Markets by NDTV Profit.The NSE Nifty 50 ended 117.25 points or 0.51% lower at 22,795.9, while the BSE Sensex closed 424.9 points or 0.56% lower at 75,311.06.  Read MoreMarkets, Business, Notifications 

​NDTV Profit