IGI Logo

Morning Market Outlook

* The market is expected to open on a flat note, as FIIs turned net buyers with over ?1,500 crore in inflows yesterday after 11 sessions of net selling.

* Additionally, Asian markets are showing strength, with South Korea's index rising by 2%. Market sentiment remains positive due to strong December sales data from automakers and optimism ahead of the Union Budget announcement on February 1.

* The Dollar Index hit a 26-month high above 109, fuelled by the expectation that the US Federal Reserve will delay any rate cuts after a strong US jobless claims report.

* Focus on Auto, IT, Financials and Real estate stock.

Nifty Technical Outlook

NIFTY (CMP : 24188) Nifty immediate support is at 24100 then 23900 zones while resistance at 24400 then 24600 zones. Now it has to hold above 24100 zones for an up move towards 24400 then 24600 zones while supports are placed at 24100 then 23900 zones.

Bank Nifty Technical Outlook

BANK NIFTY (CMP : 51605) Bank Nifty support is at 51250 then 51000 zones while resistance at 52000 then 52250 zones. Now it needs to hold above 51500 zones for a bounce towards 52000 then 52250 zones while on the downside support is seen at 51250 then 51000 levels

For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html SEBI Registration number is INH00000041