Nifty futures have been trading 18 points or .12 per cent down at 14,976.50 on Singaporean Exchange in early trade on Monday. Market participants will closely watch increasing bond yields, fresh spike in COVID-19 instances, GDP information, oil costs, rupee movement and other international cues. In the earlier week, headline indices fell 1.2 per cent. On Friday, the domestic cause for the sharpest drop was the sudden jump in the 10 years GSec costs from 6.02 to 6.13. Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities, stated that the method must be to get robust and heavyweight providers in between 14850/50500 and 14750/50200 levels with a quit loss at 14600/49750.
FPIs invest more than Rs 24,000: Foreign portfolio investors (FPIs) invested Rs 24,965 crore in Indian markets in February so far. According to depositories’ information, FPIs pumped in Rs 24,204 crore into equities and Rs 761 crore in the debt segment, taking the total net investment to Rs 24,965 crore for the duration of February 1-19.
Global watch: Asian stock markets have been trading mixed in early trade on Monday with the Shenzhen element down 1.5 per cent. Japan’s Nikkei 225 gained 1.08 per cent, though the Topix index gained one per cent. South Korea’s Kospi also traded .37 per cent greater. Stocks on Wall Street ended up in overnight trade on Friday. The Dow Jones Industrial Average edged up .98 points and the Nasdaq Composite added 9.11 points. The S&P 500 dropped 7.26 points, or .19%, to 3,906.71.
FII, DII trends: On Friday, foreign institutional investors (FIIs) net purchased shares worth Rs 118.75 crore, though domestic institutional investors (DIIs) net sold shares worth Rs 1,174.98 crore in the Indian equity market place.
Nifty assistance, resistance levels: Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, stated that Technically, Nifty formed a Bearish candle on day-to-day scale and a Bearish Engulfing candle on weekly scale. “It continues its formation of lower highs – lower lows of the last three trading sessions. Now, till it remains below 15150, weakness could continue towards next key support of 14800-14700 while on the upside hurdles are seen at 15250-15400,” he added.
Crude oil costs: International oil costs have began greater this Monday morning in Asian trade. Domestic crude could start off greater this Monday morning, tracking overseas costs. “Technically, MCX Crude Oil March could see some sideways to marginal upside momentum above 4300 levels where support is at 4270-4230 levels. Resistance is at 4370-4420 levels,” stated Sriram Iyer, Senior Research Analyst at Reliance Securities.