Daily Stock Market Report: February 19
Nifty 50 reached record highs, yet the day's close is not encouraging, marked by a high-wave candlestick pattern.
Nifty 50 opened on a positive note with a gap-up of 62.75 pts (+0.28%). Although the index dipped in the first few minutes, it found support within last Friday’s range before rebounding to reach new all-time highs
As the trading day wrapped up, Nifty 50 concluded at 22122.25, with a gain of 81.55 pts or +0.37%.
Key Observations
- Nifty 50 reached record highs, yet the day's close is not encouraging, marked by a high-wave candlestick pattern.
- This pattern signifies a lack of dominance from either the bulls or the bears throughout the trading session.
Spot Signals
Below is the Top Mover from our Live Market Feed:
- ARVSMART (+10.71%)
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Quant Signals
Under the most popular configuration
- ‘Quick Short’ almost ended break-even with a negative return of 0.09%.
- While ‘Back Up’ recorded a gain of +0.71%.
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Broker Signals
Here is the today's Top position that closed and met its target:
- M&M (+20% in 3 months)
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Coming back to the report…
Data Points
The highest CE OI is 22100, and the PE is at 22000 levels. This suggests that the markets are expected to revolve around these levels in the upcoming session.
Levels Worth Monitoring Tomorrow
The immediate support for the upcoming session is around the 22000 level. Conversely, the new all-time high will serve as resistance.
Should the support level be breached, the next level to be tested will be around 21950.
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.
