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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 higher for the third consecutive session on Mar 10, the weekly derivatives expiry day.  Nifty opened gap-up and made the intra day high in the first 5 minutes of trade. It later remained in the 15123-15218 band through the day. At close, the Nifty was up 76.40 points or 0.51% at 15,174.80.

Volumes on the NSE were much below recent averages hinting at limited institutional participation. Among sectors, Metals, IT, Pharma, Auto gained the most while PSU Bank fell marginally.

Asia-Pacific markets traded mixed as some markets struggled to hold onto earlier gains. European stocks were mixed Wednesday morning, struggling to build on the momentum seen earlier in the week. German DAX hit an all-time high as investors snapped up so-called cyclical stocks like banks and oil firms on hopes of a strong economic rebound from the coronavirus crisis.

Feeding into worries about fast price rises resulting in stoking of inflation across the globe, data showed China’s factory gate prices rose at the fastest pace since November 2018 in February.

Factory-gate shipments of passenger vehicles rose for the seventh consecutive month, at the fastest pace in five months in India, helped by utility vehicles and a low base even as supply chain constraints persist. Domestic wholesales of passenger vehicles rose 17.92% year-on-year to 2.8 lakh units in February.

Nifty managed to close in the positive amidst lower volumes on March 10. Advance decline ratio improved. Nifty could now face resistance at 15273, while 15092-15126 band could provide support on Friday.

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