Stock Market outlook this week: Here's a trading guide with key levels to track on the BSE Sensex and the NSE Nifty for the week February 24 - February 28, 2025.
The Nifty Metal index tested the 100-Week Moving Average for the last six weeks, and seems to have defended it for now. Among stocks Tata Steel, SAIL and Hindalco can rally up to 12%, suggest charts.
Cues from F&O data: Despite holding a bearish view in the February series, data shows FIIs may have added few long positions in Nifty, MidCap Nifty futures; while added short positions in Bank Nifty.
ITC, Varun Beverages share outlook: FMCG major ITC can slip another 10.5%, while Pepsi distributor VBL could slide another 27% suggests technical charts.
TCS is seen testing its 20-month moving average for the first time in 21 months, a monthly close below the same shall open the doors for a slide towards Rs 3,170 levels; suggests technical chart.
Technical charts show that key momentum oscillators on - Indian Metals, Chennai Petroleum, Zuari Industries, 20 Microns and Prakash Pipes - from Dolly Khanna portfolio were hinting at a relief rally.
Technical chart suggests that the Nifty Auto, IT and Pharma indices can potentially fall up to 22% from present levels if these key support levels are broken.
Technical chart shows that Bandhan Bank stock is likely to trade with a bearish bias as long as the stock remains below Rs 132.80; A counter rally can lead to 28% upside; check key levels here
The Nifty Realty index has plunged 29% from its peak, and is seen testing support at its 100-WMA for the first time since April 2023. Here are the key support levels to watch out for.
Shares of Aegis Logistics, JK Lakshmic Cement, Mastek, Deepak Fertlisers and Karur Vysya Bank are looking weak on the technical charts; hence may witness a downward trend in the near-term.
The BSE Sensex has near key support at 75,150, below which a dip towards 74,400 seems likely. Technical chart shows the Nifty 50 index seems headed towards the 20-month moving average.
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.
The metal peaked at $32.25 in the Asian session and slumped to $31.25 in the US session before recovering sharply in the wake of the Fed Chair Powell's speech
The metal was trading at $2,906, down nearly 0.40 per cent on the day, whereas the MCX April gold contract was changing hands at Rs 85,540, down nearly 0.32 per cent on the day
FIIs were net sellers in index futures for the fourth straight day yesterday. Open positions in Bank Nifty rose by nearly 12% amid the market fall. Here's what experts have to say.
Foreign institutional investors open interest in Nifty futures has increased by 4.8% since the start of February series, while the total OI in Nifty Feb futures dipped by 1.1%; shows NSE F&O data.
Technical chart shows key resistance for the stock at Rs 61.70; break and sustained trade above the same can trigger a sharp rally at the MTNL counter.
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.
Solar Industries, NCC, Phoenix Mills, Page Industries and Trent stock futures witnessed short build-up in recent days, shows NSE derivative data. Manappuram Finance in F&O ban on Monday.
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.