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NIFTY WRAP UP & FORECASTING

February 4, 2022

The BSE sensex closed the shop at 58,644 DOWN by 143 points and the Nifty close the day at 17,516 by Loosing 43 points.

On the Upside:-Hindalco, Ongc, Sunpharma, Asianpaint
On the downside-Heromotoco, Sbin, M&M, NTPC

Tech View:- The BSE started with cautious note, Mainly due to Border conflict between Russia and Ukraine with such kind of negative sentiment, in early trade The BSE Sensex was up 50 points at 58,837, while the NSE Nifty was just 6 points higher at 17,567.late session The BSE eventually settled 143 points lower at 58,644. The Nifty50, on the other hand, ended at 17,516, down 43 points.

Sectoral, The BSE MidCap and SmallCap indices were down 0.7 per cent and 0.45 per cent, respectively.
The Nifty Realty index fell 2.8 per cent on the NSE, while the Nifty PSB index dipped 1.9 per cent. On the contrary, the Nifty Metal index rose 1.2 per cent.

Nifty have formed a Bearish candle on daily and weekly chart, Nifty trading below 21 EMA and 50 EMA but above 200 EMA on daily chart, therefore; 17450- 17350 will be acting as a support and 17650-17750 will be acting as a resistance. Nifty will create another investment opportunity if we find nifty near 17350. Nifty may show some pull back from present level

European & USA markets: @ IST 4:30 European markets were trading at Negative note. Where the Germany’s DAX trading Negative by 1.10%, Other hand France’s CAC40 index running Negative by 0.44 %where, England’s FTSE100 index Positive by 0.19%.
Where; wall street @ IST 04:30 The DOW future contract trading Negative 66 points, S&P 500 Future trading Positive 8 points, Where; Nasdaq100 future Positive 118 points.

Global News Analysis:

JAPAN-Japan’s economy likely rebounded in the final three months of 2021 as consumption rose during a drop off in COVID-19 cases, a Reuters poll showed, though it could slide back into contraction this quarter after a spike in Omicron variant infections
LONDON:-Unnerved by the sabre-rattling between Russia and the West over Ukraine, traders are scouring global markets for investments that could provide them with protection against losses in case the conflict escalates.
SINGAPORE:– Oil prices climbed on Friday, extending sharp gains in the previous session as frigid weather swept across large swathes of the United States, threatening to further disrupt oil supplies.
USA:-U.S. job growth likely slowed sharply in January as COVID-19 infections lashed the nation, disrupting activity at high-contact business, a temporary setback to the labor market recovery that was already reversing at the end of the month