Daily Stock Market Report: February 22

Yesterday's downward movement pulled the index below the breakout level, resembling a bull trap. However, today market closed at a record high.

Daily Stock Market Report: February 22

Nifty 50 opened on a positive note with a gap up of +26.50 pts (+0.12%). Although the day began with a positive opening, the index swiftly reversed its gains, declining before ultimately rebounding to achieve a record high.

As the trading day wrapped up, Nifty 50 concluded at 22217.45, with a gain of 162.40 pts or +0.74%.

Key Observations

  • Yesterday's downward movement pulled the index below the breakout level, resembling a bull trap. However, today's decline was contained in the first half, and the day closed again at a record high.
  • It appears that the index is currently hovering around the resistance level on the daily time frame.
  • We will maintain a cautiously bullish to sideways stance until we observe a more stable trend.

Spot Signals

Below is the Top Mover from our Live Market Feed:

  • CHEMFAB (+16.93%)

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Quant Signals

Under the most popular configuration:

  • ‘Quick Short’ ended the day positively with a return of +2.47%.
  • While ‘Back Up’ didn’t generate a signal today as it didn’t meet its quantitative metrics.

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Broker Signals

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

  • AHLUCONT (+11.4% in 6 days)

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Coming back to the report…

Data Points


Calls - Strike Price

Puts - Strike Price

Max OI



The highest CE OI is 22500, 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 resistance is around the 22250 level, while today’s low will serve as support.

The market sentiment remains bullish as long as the support levels are held.

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.