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February 10, 2022

The BSE sensex closed the shop at 58,926 UP by 460 points and the Nifty close the day at 17,605 by Adding 142 points.

On the Upside:-ONGC, Tatasteel, Infy, SBI life
On the downside-Maruti, IOC, Shreecem, Ultracemco

Tech View:- The market have started a day with positive note today , where; The BSE Sensex was up 197 points at 58,663, while the NSE Nifty was at 17,534, higher by 71 points.
The BSE surged 594 points from the day’s low and ended 460 points, higher at 58,926. The index had hit a high of 59,060 in intra-day deals.
The Nifty50 climbed 142 points and settle above the 17,600-mark at 17,605.

Sectoral, The BSE MidCap and SmallCap indices closed 0.3 per cent and 0.04 per cent higher, respectively.
The Nifty Bank, Financial Services, IT, Metal, and Private Bank indices rising more than 1 per cent each. The Nifty PSB and Auto indices were the only 2 indices that ended 0.05 per cent down each.

Nifty have formed a Bullish candle on daily chart, RSI and MACD indicating Positive trend .Nifty is forming Double bottom on daily chart which indicate that we ,may see uptrend in upcoming few session. Nifty had closed above 21 and 50 EMA which supporting positive trend .
17700 and 1700 will be acting as a Resistance and 17450-17350 will act as a support.

European & USA markets: @ IST 6:41 European markets were trading at Nagative note. Where the Germany’s DAX trading Nagative by 0.05%, Other hand France’s CAC40 index running Nagative by 0.72 %where, England’s FTSE100 index Positive by 0.22%.
Where; wall street @ IST 06:41 The DOW future contract trading Nagative 227 points, S&P 500 Future trading Nagative 53 points, Where; Nasdaq100 future Nagative 265 points.

Global News Analysis:

EUROPEAN–Euro zone inflation will return to trend without significant policy tightening by the European Central Bank as pandemic-related bottlenecks in goods as well as labour are resolved, the ECB’s chief economist Philip Lane said on Thursday.
INDIA:–India’s retail inflation likely accelerated to 6.0% in January, the upper limit of the Reserve Bank of India’s tolerance band, driven by higher consumer goods and telecom prices along with a comparatively low rate a year ago, a Reuters poll found.
USA:-U.S. consumer prices jumped in January by more than expected, representing a bigger hit to Americans’ paychecks as inflation charges ahead at the fastest pace since 1982 and the Federal Reserve prepares to raise interest rates.
LONDON:–Oil prices rose on Thursday after rallying on an unexpected drop in US Crude Investment inventories in the previous session, as investors awaited the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets.