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Wrapup & Forecasting 24 Feb

February 24, 2022

The BSE sensex closed the shop at 54,529 Down by 2702 points and the Nifty close the day at 16,216 by Loosing 847 points.

On the Upside:-
On the downside -Tatamotor, Indusind Bank, UPL, Grasim

Tech View:- Today’s session market have started a day with gap down Negative 341 points due to Russia’s invasion of Ukraine, Which bring blood bath for not only Indian but also for world stock market, where; the BSE settled near the day’s low level at 54,530, down 2,702 points. On the NSE, the Nifty gave up 16,250 level to end at 16,248, down 815 points.

Sectoral,the Nifty PSU Bank tumbled over 8 per cent, Realty index 7.5 per cent, Private Bank 6 per cent, and Metal and IT indices 5 per cent. The Nifty Bank index, meanwhile, slipped over 2,100 points or 6 per cent to end at 35,200 level.
India VIX, jumped to 32, up 33 %.
Nifty had a symmetrical triangle breakout where Nifty have formed strong Bearish candle on daily chart mainly due to Russian invasion of Ukraine bring fear in world market. Nifty fell below 200 EMA resistance is placed at 16400/16750, whereas supports are placed at 16000/15900

European & USA markets: @ IST 05:30 European markets were trading at Negative note. Where the Germany’s DAX trading Negative by 4.86%, Other hand France’s CAC40 index running Negative by 4.60 %where, England’s FTSE100 indexNegative by 3.03%.
Where; wall street @ IST 05:30The DOW future contract trading Negative 735 points, S&P 500 Future trading Negative 104 points, Where; Nasdaq100 future Negative 374 points.

Global News Analysis:

LONDON –Investors piled into U.S. sovereign debt on Thursday, pushing Treasury yields sharply lower after Russia launched an invasion of Ukraine.
RUSSIA:–Kremlin spokesperson Dmitry Peskov on Thursday said Russia has created enough safety tools to survive market volatility and said that the “emotional” financial market reaction to Russia’s invasion of Ukraine would even out.
LONDON:-British Prime Minister Boris Johnson will address the nation on Thursday before setting out what he has called “the toughest possible” set of sanctions on Russia after it launched an all-out invasion of neighbouring Ukraine.
USA- U.S. banks were well-prepared for the Western sanctions announced so far over Russia’s aggression towards Ukraine, but they are still nailing down details and worry that new measures could increase the cost and complexity of enforcing the new restrictions, lawyers and industry executives said.
UKRAINE-Russian forces invaded Ukraine by land, air and sea on Thursday in the biggest attack by one state against another in Europe since World War Two.
LONDON:-Oil prices broke above $100 a barrel for the first time since 2014, stock markets slumped and the rouble hit a record low on Thursday after Russian President Vladimir Putin launched an invasion of Ukraine.