Ahead of Market
\n NEW DELHI
\nThe last week was very fruitful for investors as there was all-round buying in the market. Bulls would wish to continue the trend. Meanwhile, some risks are also emerging for the market, which traders need to be cautious of.
\nHere\u2019s how analysts read the market pulse:
\n\u201cA long bull candle was formed on the daily chart, with a gap-up opening, for the second consecutive session. The opening upside gaps of the last two sessions remain unfilled. Technically, this indicate a sharp trended upmove in Nifty50 and one may possibly expect another opening gap up this week,\u201d said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
\nThe index closed Thursday at 17,287.05, up 311.70 points or 1.84 per cent. Chandan Taparia of Motilal Oswal Securities said Nifty has given the highest daily close of the last 20 trading sessions and is now trading above its 50-EMA.
\nThat said, here\u2019s a look at what some of the key indicators are suggesting for Monday\u2019s action:
\nUS shares close higher
\nWall Street\u2019s three major indexes closed higher on Friday, with the biggest boost from recently battered technology stocks, after talks between U.S. President Joe Biden and Chinese President Xi Jinping over the Ukraine crisis ended without big surprises.
\nEuropean stocks post best week since Nov 2020
\nEuropean shares rose on Friday adding to the strong gains earlier this week, as investors focussed on Russia-Ukraine peace negotiations and digested the talks between U.S. President Joe Biden and Chinese counterpart Xi Jinping. The pan-European STOXX 600 index closed 0.9% higher with technology stocks, leading the gains.
\nTech View: Bullish candle
\nNifty50 on Thursday jumped for the second straight day and, in the process, breached its 200-day and 50-day moving averages, suggesting the bulls are in a driving seat. The index formed bullish candle on both daily and weekly scale and analysts believe the index may set eyes on 17,500-900 levels in coming days.
\nF&O: Support at 17,200
\nThere have been frantic activity on both sides of the option chain with accumulation of contracts. The data shows Nifty has an immediate support at 17,200 and resistance at 17,500 now.
\nStocks showing bullish bias
\nMomentum indicator Moving Average Convergence Divergence (MACD) showed bullish trade setup on the counters of Brigade Enterprises, EIH, Motilal Oswal, Macrotech Developers, Whirlpool India and Kotak Mahindra Bank.
\nThe MACD is known for signaling trend reversals in traded securities or indices. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see an upward movement and vice versa.
\nStocks signalling weakness ahead
\nThe MACD showed bearish signs on the counters of Inox Leisure, Muthoot Finance, Mphasis, Abbott India, GAIL and CESC. Bearish crossover on the MACD on these counters indicated that they have just begun their downward journey.
\nMost active stocks in value terms
\nInfosys (Rs 3315 crore), Reliance Industries (Rs 2428 crore), HDFC (Rs 1597 crore), Tata Steel (Rs 1378 crore), TCS (Rs 1327 crore), ICICI Bank (Rs 1321 crore) and Adani Wilmar (Rs 1180 crore) were among the most active stocks on Dalal Street in value terms. Higher activity on a counter in value terms can help identify the counters with highest trading turnovers in the day.
\nMost active stocks in volume terms
\nYES Bank (Shares traded: 82 crore), Vodafone Idea (Shares traded: 10 crore), Nalco (Shares traded: 7 crore), ONGC (Shares traded: 7 crore), GTL Infra (Shares traded: 6 crore) and SAIL (Shares traded: 5 crore) were among the most traded stocks in the session.
\nStocks showing buying interest
\nBrigade Enterprises, Bharat Dynamics, Trent, GNFC, Timken India, Titan Company and Polyplex Corporation witnessed strong buying interest from market participants as they scaled their fresh 52-week highs, signaling bullish sentiment.
\nStocks seeing selling pressure
\nFuture Retail and Thyrocare Technology witnessed strong selling pressure and hit their 52-week lows, signaling bearish sentiment on the counters.
\nSentiment meter favours bulls
\nOverall, market breadth favoured gainers as 2,051 stocks ended in the green, while 1,362 names settled with cuts
\nPodcast: How good or bad is Fed rate hike for Nifty bulls?
\nWith the US Fed announcing a rate hike of 25 basis points, as expected, last week, equity markets rejoiced not just in India but globally too. Fear gauge index India VIX eased 11% and Nifty shot up by 4% during the week. In today\u2019s special podcast with independent market expert Rajiv Nagpal, let us try to decode Fed\u2019s policy move and what it means for investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ahead of Market NEW DELHI The last week was very fruitful for investors as there was all-round buying in the market. Bulls would wish to continue the trend. Meanwhile, some risks are also emerging for the market, which traders need to be cautious of. Here\u2019s how analysts read the market pulse: \u201cA long bull candle […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-250440","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n