There was a ruckus in the market on 24 February, with the Sensex Nifty slipping nearly 5 per cent with the biggest single day fall since March 2020. The Russian attack on Ukraine shook the market. Due to this attack, global crude prices also appeared to cross $100 a barrel for the first time since 2014. This has also raised concerns about global growth.
In yesterday’s trade, the BSE Sensex closed at 54,530, down 2,702 points, or 4.7 percent. At the same time, Nifty closed well below its 200-day EMA9(16,881). Nifty closed at 16,248 with a loss of 815 points or 4.78 per cent yesterday, the lowest closing level since September 2, 2021. This formed a long bearish candle on the daily chart yesterday. Like the giants, there was a huge fall in the small and medium stocks yesterday. The Nifty Midcap 100 and Smallcap 100 indices were down about 6 per cent.
Here we are giving you some such data, on the basis of which it will be easy for you to catch profitable deals. Please note here that the Open Interest (OI) and Volume of Stocks figures in this story are the sum total of three months’ data, not just the current month.
Key support and resistance levels for Nifty
The first support for Nifty is located at 16,066 and after that the second support is located at 15,883. If the index turns upwards, then it may face resistance at 16,568 then 16,887.
The first support for Nifty Bank is located at 34,576 and after that the second support is located at 33,925. If the index moves upwards, then it may face resistance at 36,294 then 37,360.
West rallies against Russia
America and Western countries stood with Ukraine against the Russian attack. US President Biden announced the imposition of tough economic sanctions on Russia. But will not send army. On the other hand, France, Britain have spoken of retaliation.
Signs of recovery today after yesterday’s storm
Markets heaved a sigh of relief in hopes of averting a military confrontation between NATO-Russia. DOW has corrected 1000 points from lower levels. Here there is a jump of up to 2 percent in Asian markets too. SGX NIFTY is also trading higher by 350 points.
Slight softening in crude, Brent near $100
After touching the level of $105, crude oil turned slightly lighter from the upper levels. Brent is seen near $100. After the Russian attack, there was a strong rise in crude.
Modi in action on Ukraine issue
Prime Minister Modi spoke to Russian President Putin for about half an hour and he said that a solution will be found through talks. Also raised the issue of safety of Indians trapped in Ukraine. The government will bring the students through Poland.
Nifty includes APOLLO HOSPITALS instead of IOC
Instead of IOC, Nifty 50 will include APOLLO HOSPITALS. The same, NYKAA, IOC, MINDTREE, PAYTM, SRF and ZOMATO joined NIFTY NEXT 50.
T+1 system of settlement of shares implemented from today
The T+1 Settlement System for the settlement of shares will be implemented from February 25. Initially, some stocks will come under the ambit of this system. Gradually the rest of the stocks will also be brought under its ambit. This system will be applicable for trading of shares on both the NSE and BSE stock exchanges.
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