Nifty 50, Sensex Today: What to Expect from Indian Stock Market in Trade on February 25
Nifty 50, Sensex Today: What to Expect from Indian Stock Market in Trade on February 25
As the Indian stock market prepares to open on February 25, investors are keen to know what to expect from the day’s trade. The Nifty 50 and Sensex are likely to open on a tepid note, tracking weakness in global markets.
What’s Moving the Market?
The trends on Gift Nifty indicate a muted start for the Indian benchmark index. The Gift Nifty is trading at 22,595.00, a discount of nearly 17 points from the Nifty futures’ previous close. The Sensex, which was down over 1.14% on Monday, ended at 74,454.41, while the Nifty 50 settled 1.06% lower at 22,553.35.
Sensex Prediction
The Sensex ended lower by 857 points on Monday, forming a bearish candle on daily charts and a correction continuation formation on intraday charts, indicating further weakness from current levels. According to Shrikant Chouhan, Head-Equity Research at Kotak Securities, if the Sensex rises above 74,900, it could bounce back up to 75,200-75.500.
Nifty OI Data
Nifty derivatives data continues to reflect a bearish undertone, with call writers maintaining dominance over put sellers, indicating a cautious stance. The Put-Call Ratio (PCR) declined to 0.67 from 0.73, reflecting sellers’ complete control despite intermittent buying attempts. The ‘Max Pain’ level at 22,900 implies that while volatility persists, buyers may step in to cushion declines, offering short-term stability.
Nifty 50 Prediction
The Nifty 50 witnessed a downside breakout of the range on February 24 and closed the day lower by 242 points. According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the underlying trend of Nifty 50 continues to be negative and there is a possibility of more weakness down to the next support of 22,400 levels (20-month EMA) in the short term. Immediate resistance is placed at 22,750 levels.
Bank Nifty Prediction
The Bank Nifty index declined by 0.67%, or 329.25 points, to close at 48,651.95 on Monday, forming a Dragonfly Doji pattern on the daily chart, with the session’s highs and lows set to dictate the trend for the week.
Key Takeaways
- The Nifty 50 and Sensex are likely to open on a tepid note, tracking weakness in global markets.
- The trends on Gift Nifty indicate a muted start for the Indian benchmark index.
- The Sensex ended lower by 857 points on Monday, forming a bearish candle on daily charts and a correction continuation formation on intraday charts.
- Nifty derivatives data reflects a bearish undertone, with call writers maintaining dominance over put sellers.
- The Nifty 50 and Bank Nifty are likely to face resistance at 22,750 and 49,150, respectively.
Disclaimer
The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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