Ahead of the Market: 10 Things That Will Decide Your Stock Trading Tuesday
Indian stocks will be trading in two special sessions on the main site from 9:15 AM to 10 AM (0345-0430 GMT) and from 11:30 AM to 12:30 PM (0600-0700 GMT) due to the so-called disaster. was traded in. Exchange operated a recovery site to test how the system would react if an unexpected event occurred.
The benchmark NSE Nifty 50 index closed 0.16 per cent higher at 22,502, while the S&P BSE Sensex was trading 0.12 per cent higher at 74,005.94. Both benchmarks traded in narrow ranges.
Here’s how analysts read the market pulse.
“Bold text is seen at the 22,500 strike price for both calls and puts, indicating an inflection point. Traders should therefore pay close attention in the early hours to check for movement in any direction. Support is seen at 22,400. Higher On the side, Rupak De of LKP Securities said, “This move could push the index above 22,600 in the near term.”
“This positive momentum could push the index towards 22,525 and even 22,750 levels,” said Pravesh Gour of Swastika Investmart. “On the downside, 22,300 will act as an immediate support level and the 100-DMA will be at 22,050. It is important to note that That said, the market could experience volatility in both directions. Let’s take a look at some key indicators that suggest action on Tuesday.
american market
Major U.S. stock indexes were virtually flat at the open on Monday as investors awaited quarterly results from Nvidia and the Federal Reserve’s policy meeting this week, which are expected to test Wall Street’s record gains.
The Dow Jones Industrial Average recorded 39,989.76, down 13.83 points (0.03%) at the time of opening. The S&P 500 rose 2.08 points, or 0.04%, to close at 5,305.35, and the Nasdaq Composite rose 16.06 points, or 0.10%, to 16,702.02.
european stocks
European stocks rose slightly on Monday, but gains were muted as gains in commodity stocks were offset by uncertainty about the interest rate outlook.
The pan-European STOXX 600 index rose 0.1%, below last week’s all-time high.
Tech View: Small Body Candle
Nifty closed Saturday’s small special trading session 36 points higher, above 22,500 for the first time in days. But small candles on the daily chart give little indication of future price direction, analysts say.
A pattern in the form of a piercing line appears on the weekly chart, suggesting further market upside potential in the future.
A broader range boundary pattern has been in place this week around 22800-21750. Nifty, which rose from the lower range of 21750 level this week, is expected to move to the upper range of 22800 level in the next 1-2 weeks. Immediate support has been reached at the 22200 level, said Nagaraj Shetti, senior technical research analyst at HDFC Securities.
Stocks with a bullish bias:
Momentum indicator Moving Average Convergence Divergence (MACD) showed bullish trading on counters BEL, GRSE, Data Patterns (India), MTAR Technologies, Vedanta and Laxmi Organics Industries.
MACD is known to indicate a trend reversal in a traded security or index. When the MACD crosses above the signal line, it sends a bullish signal, indicating that the price of the security may rise and vice versa.
Stocks predict weakness ahead
MACD showed signs of weakness on the GE Shipping, Capri Global and Biocon counters. A bearish crossover in the MACD of this counter indicates that it has just begun its downward journey.
Most Active Stocks by Value
Tata Motors (Rs 183 crore), SBI (Rs 78 crore), HDFC Bank (Rs 77 crore), M&M (Rs 64 crore), Nestle India (Rs 63 crore), RIL (Rs 61 crore) and Tata Steel (Rs 61 crore) 60 crore) was one of the most active stocks on the NSE in terms of value. The higher activity of a counter in terms of value can help identify which counters have the highest turnover for the day.
Most active stocks by trading volume
Tata Steel (Shares traded: 36 lakh), ONGC (Shares traded: 20 lakh), Tata Motors (Shares traded: 19 lakh), Power Grid (Shares traded: 15 lakh), NTPC (Shares traded: 10 lakh), Coal India (Shares traded: 9 lakh) and SBI (Shares traded: 9.6 lakh) were among the most traded stocks in the NSE session.
Stocks showing interest in buying
Stocks such as Balkrishna Industries, Hindustan Zinc, Bharat Dynamics, Cadila Healthcare, Cochin Shipyard, HAL and BEL broke their 52-week highs, showing strong buying interest from market participants, indicating bullish sentiment.
Stocks under selling pressure
No major stock hit a new 52-week low on Saturday.
Sentiment Meter Favors Bulls
Overall, market breadth favored the bulls. 2,415 stocks closed in the green and 1,073 stocks closed in the red.
(Disclaimer: Recommendations, suggestions, views and opinions provided by experts are their own and do not represent the views of The Economic Times.)
