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February 8, 2022

The BSE sensex closed the shop at 57,808 UP by 187 points and the Nifty close the day at 17,266 by Adding 53 points.

On the Upside:-Tata steel, reliance, Cipla, Divislab
On the downside-ONGC, Powergrid, Sbilife, Tataconsumer

Tech View:- Due to moxed global cues sentiment, The market have started a day with cautious note, where; The S&P BSE Sensex was at 57,637 level, up 16 points . The NSE Nifty, on the other hand, was testing 17,200. It was down 2 points.
At the end of the session BSE hit the high 57926 and low 57059, close the day with 187 point high.
The NSE, the Nifty50 index shut shop at 17,267, up 53 points. In the intra-day deals, it had hit a low of 17,044.

Sectoral, , the Nifty Metal and PSU Bank indices each ended 0.8 % higher. Among losers, the Nifty Realty index dipped 0.8 %, followed by the Nifty IT index, down 0.3%.
The Bse SmallCap was hit harder as it declined 1.4 % on the exchange today. The BSE MidCap index, meanwhile, slipped 0.45 %.

Nifty have formed a Bearish Doji sort of candle on daily chart, Which clearly indicate market is in confusion mode.
Nifty is in formation of Ascending triangle, Nifty had took the support from Ascending triangle line which is near to 17000 mark. RSI indicating close to oversold zone and MACD indicating negative trend.
17000-16900 will be acting as a Support and 17400-17500 will act as resistance

European & USA markets: @ IST 5:45 European markets were trading at Positive note. Where the Germany’s DAX trading Negative by 0.12%, Other hand France’s CAC40 index running Positive by 0.22 %where, England’s FTSE100 index Positive by 0.06%.
Where; wall street @ IST 05:45 The DOW future contract trading Positive 8 points, S&P 500 Future trading Negative 6 points, Where; Nasdaq100 future Negative 35 points.

Global News Analysis:

LONDON–The surprise split vote behind the Bank of England’s interest rate hike last week, which was too small for almost half its officials, threatens to obscure the British central bank’s intentions and potentially hurt the economy.
France:–France posted a record trade deficit last year as imports surged on higher energy prices and Airbus exports fell, official data showed on Tuesday, casting a rare cloud over President Emmanuel Macron’s economic record.

LONDON:-Oil slipped towards $90 a barrel on Tuesday ahead of the resumption of indirect talks between the United States and Iran, which could revive an international nuclear agreement and allow more oil exports from the OPEC producer.