Market today: The Indian benchmark index flat closed on 13 February. The Nifty managed to stay above 23000. At the end of the trading, the Sensex fell 32.11 points or 0.04 per cent to close at 76,138.97 and the Nifty fell 13.85 points or 0.06 per cent to close at 23,031.40. After a decline of six days, the Sensex and Nifty rose in the first half of the February 13 trading session. Better inflation figures have increased the expectations of the RBI cuts in interest rates, due to which the first half of today’s trading session increased. But this enthusiasm did not last long. As the Weekly expiry got closer the move slowed down and finally the Sensex Nifty was closed flat.
Nagraj Shetty of HDFC Securities The Nifty failed to maintain intraday lead on Thursday and closed down 13 points at the end of the day after showing a bounce upwards from the low -side level of 22800 on Wednesday. After opening with an edge, the market fiercely accelerated in the initial part of the trading session. The Nifty was not able to cross the 23200 barrier. It slipped from the upper levels and closed at the lower levels.
A small red candle was built on the daily chart with a long upper shade. Technically, this action of the market reflects a decrease in strength for upwards. Nifty’s short term trend remains positive. But there is a lack of strength to overcome immediate obstacles in the market. The market can rise up when moving above the level of 23250. At the same time, immediate support is seen at the level of 22800.
Market Outlook: Flat closed market, know how it can be on February 14
Ajit Mishra of Railways Broking Says that the market was seen fluctuating on the day of Weekly Expiry. The market closed flat amid mixed signals. The trading session started positive, but in select legendary shares, profits ended the initial lead. The continuous selling pressure on the rebound suggests that the strong hold of the mandis on the market. In addition, traders are likely to be cautious due to other global uncertainties including the risk of potential tariff war. Given the current situation, stock-specific trading strategy will be advised with good risk management.
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