Daily Stock Market Report: February 26
Nifty 50 continues to move within a range that has formed at the resistance level.
Nifty 50 opened on a negative note with a gap down of 43.50 pts (-0.20%). The index opened below the channel we discussed last Friday, shifting to negative sentiment and dragging the index much lower.
As the trading day wrapped up, Nifty 50 concluded at 22122.05, with a loss of -90.65 pts or -0.41%.
Key Observations
- Nifty 50 continues to move within a range that has formed at the resistance level.
- 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:
- TFCILTD (-3.90%)
Like getting updates? Never miss a beat by getting instant updates on your holdings by syncing your portfolio with Investmint.
Quant Signals
Under the most popular configuration:
- Both ‘Quick Short’ & ‘Back Up’ ended the day with a negative return of 1.94% and 0.2% respectively.
Pick your one-tap wealth-building strategy today. Discover models that beat the index.
Broker Signals
Here is the today's Top position that closed and met its target:
- ZYDUSLIFE (+15.5% in 13 days)
More signals recommended by brokers are currently live. Check them out below.
Coming back to the report…
Data Points
The highest CE OI is 22300, 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 for the upcoming session is around the 22170 level. If this level is surpassed, Nifty 50 may retest its all-time high.
On the other hand, support lies at 22070 levels; if this is breached, 22000 is on the cards
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.
