Quote on Today`s Market Performance 9 February 2021 by Mr. Deepak Jasani, HDFC Securities
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Below are Technical Quote On Today`s Market Performance by Mr. Deepak Jasani, Technical Research Analyst, HDFC Securities
The Indian benchmark equity indices erased intraday gains post 1420 Hrs and ended with marginal losses on Feb 09, post a six day winning momentum. At close, the Nifty was down 6.50 points or 0.04% at 15,109.30.
Volumes on the NSE were above recent average. Among sectors, Banks ended in the positive while Media, Auto, Pharma and Metals indices ended in the negative.
Asian stocks were mostly higher Tuesday though off the intra day highs as volumes remained thin ahead of the Lunar New Year holidays. European stock markets were mixed on Tuesday, punctuating a rally since the start of the month as the price of oil continued its march higher into pre-pandemic highs.
The difference between the U.S. five- to 30-year yield curve and its German equivalent reached its widest since 2011, mainly reflecting expectations for a stronger inflation pickup in America.
Nifty 50 also fell 150 points from the highest point of the day and ended marginally in the negative for the day accompanied by a negative advance decline ratio. 15257, the high of Nifty will now be a crucial level on the upside. The global markets have come under minor profit taking on the seventh day of the rally. If this continues, we could see the Nifty correcting more towards 14913 and later 14753.
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