Analysts at Elara Capital analysed market breadth cycles in India stock markets in the last few years and highlighted the worrying points that are developing for the first time in five years.
Stock Markets Today, Feb 14: During their bilateral talks, PM Modi and US President Donald Trump talked about India's border issue with China; India and US' role in ending Russia-Ukraine war
Technical charts of Polycab India, Voltas, KEI Industries and Lodha show the formation of a bearish pattern, namely 'Death Cross' on the daily scale; hence these stocks may see further downside.
L&T share price outlook: L&T is trading below the 20-MMA, and now testing support at 100-WMA. Chart also shows formation of 'Death Cross'; trade below this key moving average can trigger a fresh fall.
Modi US Visit: Market experts believe the current stock market crash largely prices-in any negative news on Trump's tariffs on India
Stock Markets Today, Thursday, February 13: PM Narendra Modi has arrived in the US to meet President Donald Trump later today
Analysts expect the markets to remain volatile in the immediate short-term in the backdrop of tepid corporate earnings, Rupee movement and Donald Trump's tariff threats.
Technical charts show that the key momentum oscillators on Oil India and Campus Activewear are turning favourable, hence the stock may trade with a positive bias in the near-term.
Technical chart suggest that Muthoot Finance, Manappuram Finance and IIFL may witness some downward pressure in the near-term, and dip up to 17%; check key levels to track here.
Technical chart shows that Nifty Metal has a strong support base around the 8,000-mark; In case, the index violates the same it can slide another 15 per cent from present levels.
The key support for the BSE Sensex stands at 76,300; whereas, the NSE Nifty 50 index could test 23,300 or dip to 23,150 levels; suggests technical chart.
Stock Market Today, Feb 10: The stock markets will see a flurry of IPOs this week, including Ajax Engineering (Feb 10), Hexaware Technologies (Feb 12), & Quality Power Electrical Equipment (Feb 14)
SBI is testing the weekly super trend line support after 81 weeks and the 20-month moving average support after 4 years. Chart suggests that the overall bias is likely to remain tepid below Rs 800.
Technical chart shows that NCC and Sonata Software shares were seen testing multi-year supports; break of the same can trigger a deeper fall at these counters. Check key levels for these 5 stocks here
Nifty Today: The 23,800 level aligns with key trendline resistance, temporarily halting the uptrend
On Thursday thus far, Nifty Bank, Nifty PSU Bank and Nifty Financial Services quoted with losses up to 0.8% in a slippery market; technical charts hint up to 8% potential upside on these indices.
Thermax was seen testing the super trend line support on the monthly scale for the first time since January 2021, while Timken India after September 2019; for trading guide check key levels here.
Nifty 50 Today: The Nifty index may continue to consolidate after its recent surge, but the broader trend remains positive
Shares of Restaurant Brands Asia, Westlife Foodworld, Sapphire Foods India, Jubilant Foodworks and Devyani International can rally up to 15% from present levels, suggest technical charts.
DIIs, retail and proprietary traders continue to hold bullish bets in index futures, shows NSE derivative data. Technically, Nifty near support rises to 23,630.