Today Market Prediction

THURSDAY 

22-FEB-2024

 

Break below 22000 is further downside-Till then Buy on Dips-Nifty Expiry

FLAT to POSITIVE

Today’s Market Prediction:

  • Indian stock market Would open POSITIVE
  • Technically, Nifty is in the Negative zone- BankNifty is in the Positive zone.
  • Nifty index formed  Bearish Engulfing candlestick pattern on the daily charts
  • India VIX fell by 0.90 percent to 15.93 levels.
  • Dollar edges down as Fed meeting minutes meet expectations
  • Oil rises 1% on signs of tightening supplies
  • Promoter Lunolux to offload 12% stake in Eureka Forbes via block deal: Sources
  • India to be world's third largest economy by 2027 with GDP at $5 trillion: Jefferies 
  • SBI Mutual Fund: The fund bought 40,65,000 shares at an average price of Rs 245 as Qrg Investments and Holdings sold the 1.33 percent stake in the company.
  • Dr. Reddy’s Laboratories: The company received an appellate order confirming the tax demand, including interest and penalty, from the additional commissioner of central tax.

Stocks in NEWS  

  • Eureka Forbes: Eureka Forbes' promoter Lunolux is likely to sell up to 12 percent stake or 2.3 crore shares through block deals. Floor price of the deal is set at Rs 494.75, a discount of 3 percent and the deal size is at Rs 1,150 crore.

  • Homefirst Finance: The company received Corporate agent (Composite) license from IRDAI for soliciting life, general and health insurance. The Company will be able to solicit insurance products to its customers as a Corporate Agent.

  • Apollo Microsystems: The company announced that SBI sanctioned Rs 110 crore term loan for the company. The funding will be used for the establishment of the Integrated Plant for Ingenious Defence Systems (IPiDS) at Hardware Park, Hyderabad.

  • Brigade Enterprises: The company signed a joint development agreement with PVP Ventures to develop a 2.5 million square feet, high- rise residential project, spread across 16 acres in Perambur, Chennai with a revenue potential of about Rs 2,000 crore.

  • Nippon India Mutual Fund: The fund bought 80,00,000 shares, or a 0.66 percent stake, at Rs 164.1 in Devyani International after Yum Restaurants sold their entire stake of 5,30,83,330 shares at the same price.

  • LTI Mindtree: The company has signed MoU to set up Gen Al & digital hubs in Europe & India. The facilities will be developed in Poland, Europe and Mumbai. Eurolife FFH will set up Generative Al and Digital Hub in Athens to develop innovative solutions for insurance businesses in Greece and LTIMindtree will provide deep domain expertise and support from its dedicated facilities in Poland and Mumbai.

Market Indication:

Global: FLAT to POSITIVE

NIFTY: FLAT to POSITIVE

BANKNIFTY: FLAT to POSITIVE

PCR : The Nifty Put Call ratio (PCR), which indicates the mood of the equity market, declined to 0.85 on February 21 against 1.24 levels in the previous session. The PCR below 1 indicates that the trading volume of Call options is higher than the Put options, which generally indicates increasing bullish sentiment.

BULK Deals: BLB limited, Aartech solonics limited etc.

Stocks In F&O Ban Period: Ashok Leyland, Piramal Enterprises, PVR INOX, Balrampur Chini Mills, Bandhan Bank, Biocon, Canara Bank, GMR Airports Infrastructure, GNFC, Hindustan Copper, India Cements, Indus Towers, National Aluminium Company, RBL Bank, and Zee Entertainment Enterprises

Results Today: Jana Small Finance Bank, Lords Chloro Alkali, and DIC India

GIFT NIFTY (Positive)

22150   +102.00    +0.46%

FII-DII: FIIs were net buyers of Rs.284.66 crores whereas DIIs were net sellers of Rs.411.57 crores in cash market for last trading session.

NIFTY (22055) The support for the Nifty is: 22005-21945-21850 and the Resistance to the up move is at: 22198-22256-22350 levels.

BANKNIFTY (47020): The support for BankNifty is: 46908-46795-46615 and the resistance to the up move is at 47272-47384-47565 levels.

 

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Note:

CHECK THE MARKET DIRECTION BEFORE YOU TRADE

WE ARE NOT ADVISORY or TIPS PROVIDERS
we are not SEBI registered . you may consult your Financial advisor before taking trade.
Our views are based on candlestick charts,patterns,Mathematical based calculation ( pivot)
we are not responsible for any profit/loss as views are for Educational/Observation Purpose

Maintain your daily risk as per your capital and risk management. daily risk should not cross more than 2 % of your Total capital . managing your risk is important in any kind of trading . If you are in direction of Profit then Trail your SL . without SL no trade. 

If you are Trading in Equity : then you may use this calculation for risk management
If Daily Risk in Equity is Rs. 250 and SL is of 5 points ( from entry point to SL point)  then Qty should be taken as per this Risk: 250/5 = Qty 50