*Morning Update February 23, 2021*
*Global Market*
DowJones: 31522 (+27)
NASDAQ: 13533 (-341)
FTSE 100: 6612 (-12)
DAX: 13950 (-43)
HangSeng: 30320 (-325)
Nikkei: 30156 (+138)
SGX: 14724 (+49)
Crudeoil: $61.49
Brent Crude: $65.38
Gold: $1806.81
*Nifty*
Bears continue to tighten their grip over nifty. Index continued to trade in red zone for fifth consecutive trading session. It failed to hold the support of fibbo Price Retracement of 38.20% which lays around 14,720 levels. 14,640 would be acting as an initial support level, below that we expect index to move towards 14,500 levels. On daily chart Nifty has close below 20DMA- 14851, Nifty to need close above this level for reversal.
*Tradeable Ideas*
ICICIPRULI FUT.: SELL BELOW 463 TGT 435 SL 477
TATACHEM: BUY ABOVE 640 TGT 695 SL 613
*INDEX Advance: Decline*
Nifty – 10:40
Nifty Bank – 02:10
Nifty 500 – 116:385
Midcap 100 –26:74
Smallcap 100 –20:80
*Stocks OI*
Long Buildup – JUBLFOOD 20.74%
HDFCBANK 15.53%
Short Buildup – CHOLAFIN 27.87%
ASHOKLEY 18.99%
Long Covering – HDFCAMC -17.61%
TATAPOWER -15.90%
Short Covering – GRASIM -44.41%
JSWSTEEL -29.09%
*52-week High Low Parameters (NSE 500):*
Stock hitting 52-week High: 29
Stock hitting 52-week Low: 00