2 mins Nifty Wrap

Technology 26 February 2021 5:25:PM

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NIFTY ends the session near the 14500 mark.

Highlights

  • The benchmark indices NIFTY and SENSEX end the session on a bearish note with a loss of (-3.76%) and (-3.80%) respectively. The Bank Nifty strongly underperformed the benchmark index and ended the session with a loss of (-4.78%).
  • The RSI (44.75) plotted on the daily time frame can be seen moving lower after breaching the 50 mark. Indicating that the bears in control of the trend.
  • On the sectoral front, all the 11 sectoral indices ended the red with the banking and the financial services leading the fall. NIFTY FINANCIAL SERVICES, NIFTY PVT BANKS and NIFTY PSU BANKS leading the fall, and ending the session with a loss of (-4.93%), (-4.67%) and (-3.97%) respectively.
  • ONGC, M&M and POWERGRID were the losers and ended the session with a loss of (-6.64%), (-6.53%) and (-6.46%) respectively.
  • None of the NIFTY 50 stocks managed to outperform the INDEX.

Technical

  • NIFTY SPOT: 14529.15 (-3.76%)
  • DYNAMIC PARAMETER: Nifty forms lower low lower high for the 2 week.
  • TRADING ZONE: Resistance: 14700 (Intraday Resistance) / 14820 (Key Resistance) Support: 14467 (Daily low) / 14336 (Gap Area)
  • BROADER MARKETS: OUTPERFORMING, MIDCAP 23268.50 (-1.60%), SMALLCAP 8049.70 (-1.21%), Advance-Decline: 571/1324
  • STRATEGY: Bearish till below 14956 (20 Day SMA).

 

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