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Below are Technical Quote On Today`s Market Performance by Mr. Deepak Jasani, Technical Research Analyst, HDFC Securities 

Indian benchmark equity indices ended in the positive on March 19 after early morning weakness, breaking a five day losing streak. At close, the Nifty was up 186.10 points or 1.28% at 14,744. In the process, Indian markets outperformed the entire Asian region. Despite the gain, Nifty ended the week in the negative by 1.9%

Volumes on the NSE were the highest since Feb 26 aided by FTSE rebalancing volumes. All sectoral indices ended in the green led by Energy, FMCG, Metals.

Asian markets tumbled on Friday as investors appeared to be shaken by several issues, from the continued prospect of rising inflation to a volatile US-China meeting and persistent coronavirus flare-ups in Europe. European markets pulled back on Friday after a spike in bond yields and inflation concerns reignited concerns about stock valuations and prompted a sell-off on Wall Street. A rise in Covid-19 cases and associated lockdowns also weighed on recovery hopes. On the data front, British consumer sentiment notched a one-year high in March, according to a GfK survey, with hopes for an imminent economic recovery growing. The yield on benchmark 10-year U.S. Treasury notes stood at 1.69% Friday, after spiking late Thursday to 1.75%.

Nifty has showed remarkable bounce from the intra day lows on March 19. One will have to watch as to whether this uppishness continues early next week even after the FTSE rebalancing is done with. US Bond yield moves will be one of the important factors to track. 14919 remains a strong resistance for the Nifty while 14529 could be a support.

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