Share market : Due to Russia’s attack on Ukraine and spurt in oil prices, the market sentiment weakened during the week ended February 25, although the benchmark index closed with a spectacular recovery of 2.5 percent on Friday due to positive global cues. . No sector was left untouched by the fall during the week and there was a fall between 2-5 per cent.
Experts believe that the sentiment may remain in favor of the bears till the war between Russia and Ukraine continues. Also, the impact of economic data and monthly auto sales can be seen on the market. Yesha Shah, Head (Equity Research), Samco Securities said, “The direction of the market will be determined by the geopolitical tensions. If the Russia-Ukraine conflict continues, the market may see a decline. In view of the current situation, he has advised not to trade excessively.
The market will remain closed on Tuesday on account of Mahashivratri.
These 10 factors will keep traders busy next week:
Russia’s attack on Ukraine
Invasion of Ukraine by Russia: This is going to be a big concern in the coming days, due to which there will be volatility in the global market, but will support the commodity prices, which have seen a significant rise last week.
oil prices
Oil Price: In the coming days, the market will keep an eye on oil prices. This is also important because India is dependent on imports for most of its oil needs. Brent crude closed at $97.93 a barrel at the end of last week, although it touched a level of $105.79 a barrel during the week, the highest since 2014. In the last two months, crude has gained about 45 per cent.
Market Outlook For Next Week: Volatility will remain in the market, its direction will depend on geopolitical conditions
FII sell-off
FII Selling: Foreign Institutional Investors (FII) have increased selling due to Ukraine tension, which was already happening due to the possibility of a hike in interest rates by the US Federal Reserve. Analysts expect the Fed to hike rates six to seven times in the coming year.
Experts believe, if the war between the armies of Ukraine and Russia continues, then the selling may increase further.
auto sales
The market will also keep an eye on the monthly auto sales figures to be released on Tuesday. Commercial vehicle sales are expected to continue to grow and passenger vehicle sales are expected to pick up with improved chip supply. However, the impact of weak sentiment can be seen on the sales of two-wheeler and tractor.
Russia-Ukraine tension showed its effect, more than 100 smallcap stocks fell 10-22% last week, know from experts how the market will move ahead
economic data
The market will also keep an eye on the GDP growth figures for the December quarter, which will be released on Monday. Most analysts expect GDP growth to be in the 6 per cent range.
The Market Manufacturing PMI data for February will be released on Wednesday, followed by the Market Composite and Services PMI data for February on Friday.
technical view
Nifty50 has formed a bullish candle on the daily chart on Friday, as the index rose 2.5 percent to 16,659 on this day, but it formed a bearish candle during the week. Due to this, there are signs of panic in Dalal Street.
Nagraj Shetty, Technical Research Analyst, HDFC Securities said, “There is a significant upside resistance near 16,700-16,800 for the market to move higher. On the downside there is support at 16,500 level.
India Wicks
India VIX: After reaching the level of 32 in June, 2020, it came down to 26.7 on Friday, but for stability in the market, it is necessary to stay down 22 percent, which is possible only after the global tension subsides. Till then the ups and downs will continue.
F&O signals
F&O Cues: Option data clearly indicates that Nifty50 will trade in the range of 16,000-17,000 in the coming days till geopolitical tensions subside and it is going to be important to stay above 16,800-17,000 levels. There is a strong support near the 16,200-16,000 level.
corporate action
Some of the corporate actions that are going to happen in the coming weeks are as follows:
global data
Next week you need to keep an eye on these key global data:
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