Below are Technical Quote On Today`s Market Performance by Mr. Deepak Jasani, Technical Research Analyst, HDFC Securities
Indian benchmark equity indices ended flat for the third time in the last four trading sessions on Feb 12, but posted 1.01% gains for the week. Nifty fell sharply post 1300 Hrs, but recovered post1400 Hrs. At close, the NSE Nifty 50 index ended 10 points or 0.07% lower at 15,163.
Volumes on the NSE was back a recent average on Feb 12. Among sectors, Banks were the main gainers while Metals, FMCG, media and Auto indices fell.
Stocks fell in Japan and Australia on Friday, with most other major Asian markets closed for the Lunar New Year holiday. European stocks retreated slightly on Friday, as investors monitor a fresh batch of economic data and the gathering pace of vaccinations against Covid-19. The U.K. economy slumped 9.9% in 2020, posting its biggest annual fall in output since modern records began. In Q4CY20, however, the U.K.’s GDP rose 1%, as the country once again imposed nationwide lockdown measures to curb the spread of Covid infections.
Nifty again closed the week with gains. Moves in the Nifty are becoming choppier in a narrow range. Institutional flows have come back to normal levels after remaining high over the last few weeks. Nifty could take support at 14753 in the coming week, while on rises 15257 could offer resistance. A breach of this level could result in continued bullish moves.
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