The anticipated trading band for the MCX Crude Oil futures has got narrower to Rs 6,180 - Rs 6,660. Broader trend for Natural Gas remains weak as the commodity trades below 200-WMA.
India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market
The weekly F&O data also highlights significant build-up in open interest at the 17,700 Put, suggesting likely support at this level.
The technical analyst expects an upside target of 17,800 - 17,900 on the Nifty, with stop loss of 17,400.
The spike comes after the US Federal Reserve Atlanta President Raphael Bostic vouched for a measured rate hike approach, which strengthened global sentiments
The derivative analyst from HDFC Securities recommends to Buy PowerGrid 222.50 Call and simultaneously Sell 230 Call for the March expiry.
According to the technical analyst, the Nifty Consumption index is likely to witness a pullback, and the support range of 7,036 - 6,980 is likely to provide a base for a technical bounce
The Bollinger Bands suggest a likely trading range of Rs 6,070 - Rs 6,650 for the MCX Crude Oil futures; whereas, Natural Gas futures need to sustain above Rs 231 for the pullback to continue.
Stocks to watch today: From SpiceJet to Bharti Airtel, here are top stocks to watch in Tuesday's trading session
Commenting on the extended trade timing for interest rate PRAKARSH GAGDANI, chief executive officer of 5paisa says that the fatigue of longer trading hours for regular traders will soon weigh in.
According to the technical analyst, traders must remain cautious while trading Nifty50, in order to maximise gains and minimise losses
CLOSING BELL: Sectorally, the Nifty Metal index plunged 3 per cent, dragged by Adani Enterprises, which tumbled nearly 5 per cent
According to the technical analyst, traders must adopt 'buy-on-dips' strategy for Nifty Energy, Nifty Commodities, and Nifty MidCap 50 indices
The technical analyst also advices to avoid media stocks for now, as the Nifty Media index could side to 1,631 level.
Analysts believe that this down trend is a short-term gyration and investors' should use this dip to accumulate high quality growth stocks
According to the technical analyst, since Nifty Private Bank trades in a bearish trend, with moving averages, MACD, and RSI trending downwards, this, therefore, signals a negative market sentiment
According to the technical analyst, the Nifty is in the process of forming an Inverse Head and Shoulder pattern, which is a bullish chart pattern.
According to the technical analyst from Anand Rathi, Persistent Systems can advance to Rs 5,250; while Wipro may see faster momentum above Rs 414.
According to the technical analyst, charts suggest bullish trend for Nifty Pharma, Nifty Realty, and Nifty Media indices
Primary markets will take few months to recover, says Ashutosh Tiwari of Equirus. Investors, he said, are now only interested in businesses which have better historical growth and cash flow profile.