Daily Stock Market Report: February 14

Nifty 50 opened on a negative note with a gap down of 165.10 pts (-0.76%). Despite the negative opening, it found support at yesterday's low and subsequently recovered from the gap down and closed almost at its high around 21850.

As the trading day wrapped up, Nifty 50 concluded at 21840, with a gain of 96.80 pts or +0.45%.

Key Observations

• Nifty 50 in the daily time frame has no signs of trend and continues to move within a range.
• 22000 continues to pose a struggle for the bulls. Click here to read a detailed analysis.
• Until we see a decisive close above 22000, we maintain a mildly bearish to sideways stance.

Spot Signals

Below is the Top Mover from our Live Market Feed:

• TEJASNET(+1.80%)
  

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Quant Signals

Under the most popular configuration:

• ‘Quick Short’ ended the day negatively for the day with -6.52% for the day.
• On the other hand, ‘Back Up’ recorded a profit of +4.81%.

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Broker Signals

Here is the today's top position that closed and met its target:

• SIEMENS (+21% in 2 months)
  

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Coming back to the report…

Data Points

The highest CE OI is 22000, and the PE is at 21600 levels. This suggests that the markets are expected to revolve around these levels in the upcoming session.

Levels Worth Monitoring Tomorrow

The immediate resistance for the upcoming session is around the 21850 level. Conversely, 21600 will serve as support.

If the index breaks above 21850, it might test 22000 levels again.

Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.