BSE Sensex snapped its two-day gaining streak and ended flat with a adverse bias. NSE’s Nifty as well settled flat soon after surging to a day’s higher of 15,294 in intraday offers. Sensex ended 14 points down at 50,637.5 and Nifty gained 11 points to settle at 15,208 on the back of profit booking in the financials. In the broader marketplace, the S&P BSE MidCap index fell .3 per cent to 21,602, when the S&P BSE SmallCap index rose .3 per cent to finish at 23,351.87. The India VIX, also recognized as the worry gauge of the marketplace, ended at 18.84, down 1.50 per cent. Its preceding close was at 19.13. The worry gauge assists investors and traders predict the volatility expectation for the span of about 30 days.
Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
15300 has posed as a resistance today. If we can get previous that, we will reach 15550-15600. We have great assistance at 14900-15000 and till we hold that level, we are in bullish territory and can make use of any correction to accumulate extended positions.
Rohit Singre, Senior Technical Analyst at LKP Securities
Nifty once more closed a day with minimal gains at 15208 and formed a bearish candle on the everyday chart. The index has pretty great base about 15100-15000 mark any dip close to mentioned levels will be once more shopping for chance with maintaining all round cease out level under 15k mark, till & unless we do not see any close under 15k mark structure will be positive and we could head towards 15330-15430 zone which will be quick levels to book income on the larger side.
Anand James, Chief Market Strategist at Geojit Financial Services
Double rejections at 15250 yesterday, one every at the opening hour and the closing hour, had raised the possibility of a pullback today. So, even even though, opening burst took Nifty shortly previous 15250, it could not sustain, lending a weak bias via the initially half of the day. This was largely led by banks. However, positive worldwide cues, as properly as expectations of sectoral stimulus, held Nifty collectively, with metals as properly as IT major the charge. Besides the derivatives expiry, traders will also be eyeing the 3rd phase of peak margin guidelines, which calls for a larger margin requirement for intraday trades. Nevertheless, the technical structure appears set for taking Nifty properly previous 15600 in a fortnight.
Vinod Nair, Head of Research at Geojit Financial Services
Market witnessed a positive opening following reports of next set of stimulus measures and declining covid circumstances when a promoting streak in banking stocks forced the marketplace to shed its morning gains and close flat. As per the reports, the central government is preparing the next set of assistance measures to reduce the second wave’s financial effect, in particular for worst-hit sectors. Barring financials that witnessed profit booking, all main sectors traded in the green. Supported by worldwide markets as Fed officials reiterated that the inflation is transitory beating down worries.
Sumeet Bagadia, Executive Director, Choice Broking
Technically, the nifty index has managed to close above 21 EHMA and sustained above prior resistance of 15140 levels from the last two trading sessions, that shows the positive trend will continue now and will act as a assistance for the marketplace. Moreover, the Nifty sustained above the downward slopping trend line that suggests a bullish strength in the counter. Furthermore, the Index has formed a bullish marabozu on the hourly chart as properly as the Stochastic oscillator is also displaying a positive crossover which points to a bull run for upcoming sessions. At present, the nifty appears to have an quick resistance at 15340 levels and main resistance is intact at 15450 levels when assistance is placed at about 15000 levels.