This is how analysts read the market pulse:
Rupak De, Senior Technical Analyst at LKP Securities emphasized that volatility is still at play, forcing investors to stay on the sidelines. “The index has been trading well within the range of its 200-DMA (25,341) and 21-EMA (25,610) over the past two days. Going forward, we expect the market to remain sideways until there is an improvement in investor confidence. Immediate support is placed at 25,300; as long as this level is maintained, the possibility of a rally remains intact. On the higher side, resistance is placed at 25650-25750,” he said.
American markets
Wall Street stocks rose early Wednesday, continuing a recovery in technology stocks ahead of Nvidia’s earnings, as markets digested President Donald Trump’s speech to Congress.
The tech-focused Nasdaq led Tuesday’s rally as markets took a less fearful view of the impact of artificial intelligence on older tech companies.
Analysts said the market largely shrugged off Trump’s State of the Union address on Tuesday evening, in which the US president tried to paint a rosy picture of his achievements in his longest-ever address to Congress.
European markets
Most major European indices were trading at gains around 1:19 PM GMT (7:04 PM Indian time) today. The UK’s FTSE 100 rose 1% at this time, while Spain’s IBEX, Germany’s DAX, France’s CAC 40 and Stoxx 600 rose between 0.4% and 0.8%.
Technical view
Deciphering the Nifty charts, Bajaj Broking said the index has formed a high wave candle with a small real body and long shadows in both directions, largely staying within the previous session’s price range, indicating consolidation amid stock-specific action.
“Nifty reacted lower against the immediate resistance area at 25,650 in yesterday’s session, but going forward, only a move above will signal a break in the current corrective trend. As mentioned in an earlier edition, the Index has been consolidating within the range of 25,350-25,900 in the last 9 sessions. Only a breakout or a breakout below this range will indicate the next trend direction. Volatility is likely to remain high amid uncertain global cues,” said the broker. said, adding that a break below Tuesday’s low 25,327 will open further downside towards the 200-day EMA and the previous gap-up area around 25,100-25,200.
Most active stocks in terms of turnover
Aditya Infotech (Rs 1,081 crore), SpiceJet (Rs 454 crore), Lenskart (Rs 182), State Bank of India (SBI, Rs 303 crore), Larsen & Toubro (L&T, Rs 279 crore), Crompton Greaves (Rs 257 crore) and Waaree Energies (Rs 241 crore) were among the most active stocks by value BSE. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (shares traded: Rs 2.98 crore), SpiceJet (shares traded: Rs 33.92 crore), Canara Bank (shares traded: Rs 1.22 crore), Suzlon Energy (shares traded: Rs 1 crore), Crompton (shares traded: Rs 96.72 lakh), Lenskart (shares traded: Rs 81.78 lakh) and Ola Electric (shares traded: Rs 96.72 crore). lakh) shares: 81.54 lakh) were among the most actively traded stocks on BSE by volume.
Stocks that show buying interest
HCL Technologies, Bajaj Auto, Concord Biotech, Lloyds Metals and Energy, Schaeffler India, Jindal Poly Films and Lakshmi Finance & Industrial Corporation were among the stocks that witnessed strong buying interest from market participants.
52 Week High
Today, 115 stocks hit their 52-week highs, while 323 stocks fell to their 52-week lows. Among those that hit 52-week highs were Aeroflex Industries, AGI Infra, Ajanta Pharma, Bank of Baroda (BoB), Bharat Forge, ICICI Prudential Asset Management Company and Bank of Maharashtra.
Stocks see selling pressure
Among the large cap names were SBI, Reliance Industries and Adani Ports and Special Economic Zone (APSEZ). Other stocks that witnessed significant selling pressure were RM Drip and Sprinklers Systems, Generic Engineering Construction and Projects, GTPL Hathway, Waaree Energies, AB Infrabuild, TIL and VL E-Governance & IT Solutions.
Sentiment meter favors bulls
Heavyweights like ICICI Bank, Tata Consultancy Services (TCS) and Mahindra & Mahindra (M&M) helped the markets, although market breadth remained negative in the markets as a whole. Of the 4,370 stocks traded on the BSE on Wednesday, February 25, 2,012 stocks witnessed gains, 2,191 saw declines, while 167 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of Economic Times)
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