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.
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.
The Bank Nifty is expected to consolidate in the 50,000-50,600 range; a breakout in either direction will further set the next move for the index, says Hrishikesh Yedve of Asit C. Mehta.
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.
Technically, a RSI reading above 70 is considered overbought for the stock, which could mean the stock may consolidate or correct in the near-term; but not necessarily fall.
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.
The NSE Nifty is on the verge of a positive breakout after a gap of nearly 1.5 month; technical chart suggests the index could rally all the way to 24,250 levels.
The NSE derivatives data show that FIIs continue to hold a bearish bias, with 8.5 short positions in index futures for every long bet.
FIIs sold shares worth Rs 3,958.37 crore on February 3, while DIIs bought shares worth 2,708.23 crore
The Nifty Metal index was seen testing the 100-WMA (Weekly Moving Average) support for the third time in the last 4 weeks. Similarly metal stocks too are testing long-term supports; check levels here.
On the upside, the Sensex needs to trade consistently above 78,150, and the Nifty above 23,600 for continuation of the pullback rally; suggests the technical charts.