The shrewd futures were trading 18 points or 0.12 percent at 14,976.50 on the Singapore Stock Exchange in early Monday trading. Market participants will be closely following the rise in bond yields, the further rise in COVID-19 cases, data on GDP, oil prices, the movement of the rupee and other global indices. Over the past week, the global indices have fallen 1.2%. The national reason for the biggest drop on Friday was the sudden jump in 10-year GSec prices from 6.02 to 6.13. Shrikant Chouhan, Executive Vice President, Technical Equity Research at Kotak Securities, said the strategy should be to buy strong and heavy companies between the 14850/50500 and 14750/50200 levels with a stop loss at 14600 / 49750.
REITs invest over Rs 24,000: Foreign portfolio investors (REITs) have so far invested Rs 24,965 crore in Indian markets in February. According to data from custodians, REITs injected Rs 24,204 crore in shares and Rs 761 crore in the debt segment, bringing the total net investment to Rs 24,965 crore from February 1 to 19.
Global watch: Asian stock markets traded mixed in Monday’s first trade with the Shenzhen component down 1.5%. Japan’s Nikkei 225 gained 1.08 percent, while the Topix index gained 1 percent. The South Korean Kospi also registered a rise of 0.37%. Wall Street shares ended in overnight trading on Friday. The Dow Jones Industrial Average rose 0.98 points and the Nasdaq Composite added 9.11 points. The S&P 500 lost 7.26 points, or 0.19%, to 3,906.71.
Trends FII, DIIOn Friday, foreign institutional investors (FII) bought shares with a net worth of Rs 118.75 crore, while domestic institutional investors (DII) sold shares worth 1,174.98 crore of Rs on the Indian stock market.
Clever support, resistance levels: Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said that technically Nifty is forming a bearish candle on the daily scale and a bearish engulfing candle on the weekly scale. “It continues to build from lower highs – from the lowest lows of the past three trading sessions. Now, until it stays below 15150, weakness may continue to the next key support at 14800-14700 while the upward hurdles are seen at 15250-15400, ”he added.
Crude Oil Price: International oil prices started to rise on Monday morning in Asian trade. Domestic crude could start higher on Monday morning, depending on prices abroad. “Technically MCX Crude Oil March could see lateral to marginal bullish momentum above the 4300 levels where support is at the 4270-4230 levels. Resistance is between 4370 and 4420 levels, ”said Sriram Iyer, senior research analyst at Reliance Securities.