Technical View: The Nifty 50 index continued the process of decline in the third consecutive season on 7 February. Despite the RBI expected to cut the repo rate by 25 basis points, it closed around 23,550 in the ups and downs session. Despite the mixed global signals, the Nifty index opened around 23,650 before the RBI policy. But soon it lost all its lead. It had a flat business in the first half. However, the index slipped below 23,450 due to increased selling in second half. Meanwhile, purchases in the last hour closed at 23,559.95 with the index of 43.40 points or 0.18 percent.
The major shares falling in the Nifty include ONGC, ITC, Britannia, SBI, Adani Ports. While the growing stocks included shares of Tata Steel, Bharti Airtel, Trent, JSW Steel, Hindalco.
The Nifty Midcap index had a slight increase. While the smallcap index declined by 0.3 percent.
Look at the Sectoral Index front, increase the Nifty Metal Index by 2.6 percent. Consumer durables increased by 1 percent. Auto index rose 0.7 percent. While each of PSU Bank, FMCG, Media, Oil and Gas Index declined by 1 percent.
Profit in the market on the last day of business week, experts put bets on these 4 stocks for earning strong earnings
Nifty attitude for Monday 10 February
LKP Securities’s metaphor Dey said, “The Nifty has been Volatil since the announcement of the Monetary Policy by the RBI Governor. However, Volatibility did not demolish the index below 21 EMA on a daily timeframe. It is showing a positive short term trend. “
He said, “As long as the index remains above 23,450, the trend is likely to remain positive. The resistance is seen at 23,700. On the other hand, the Nifty can show a rally towards 24,050 with a decisive move above 23,700, a decisive move above 23,700. . “
Bank Nifty Index also saw ups and downs during the day. It opened at a high level but later slipped below 50,000. Nevertheless, the end of the market managed to shut down at 50,158.85 at the end of the market.
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