Nifty Hits Milestone
Both BSE Sensex and Nifty50 gained 1% this week.
On February 16, auto, IT, and pharma stocks lifted Nifty above 22,000 for the fourth consecutive session.
After favorable global cues, Indian equity indices started in the green and stayed positive, with Nifty maintaining above 22,000 for most of the morning amid buying across all sectors except oil & gas and power.
At closure, the Sensex was up 376.26 points or 0.52 percent at 72,426.64 and the Nifty was up 129.90 points or 0.59 percent at 22,040.70.
Both BSE Sensex and Nifty50 gained 1% this week.
Sectors and stocks
Wipro, M&M, SBI Life Insurance, Adani Ports, and Maruti Suzuki led the Nifty’s gains, while Power Grid Corporation, ONGC, SBI, Britannia Industries, and Reliance Industries led the losers.
Except PSU Bank, oil & gas, and electricity, all other indices are up, with auto, capital goods, pharma, IT, and realty up 1-2 percent.
The BSE Midcap and Smallcap indices are up roughly 1%.
Individual equities including Nalco, Aurobindo Pharma, and Balrampur Chini Mills had volume spikes above 800%.
The build-up was long in Ipca Laboratories, Glenmark Pharma, Federal Bank, and short in Gujarat Gas, Power Grid, and REC.
Aarti Industries, ACC, Alkem Laboratories, Castrol India, Confidence Petro, Container Corporation, Federal Bank, Fineotex Chemicals, Granules India, HPL Electric, Indian Hotels, Jindal Stainless, KSB Pumps, M&M, Mastek, MphasiS, Natco Pharma, Novartis India, Oil India, Rain Industries, Sasken Technologies, Skipper, TVS Motor, Venus Pipes, Wipro, and others reached their 52-week high
February 19 forecast
A spike in large-cap stock purchasing enthusiasm lifted the Nifty over the current consolidation level, resulting in its greatest weekly finish ever. The Nifty has closed above the 21EMA for several days, indicating a favorable trend.
RSI crossed bullishly after a base formation. Short-term, the index may reach 22,200; over 22,200, it may reach 22,600. Lower support is 22,750.
Markets climbed over 0.5 percent for the fourth straight session. Nifty rose progressively after the gap-up start to retake 22,000. Most sectors supported the move, with auto, real estate, and medicine leading. Due to midcap and smallcap buying, market breadth also rose.
Nifty is set to retest its record high, so be hopeful but cautious. To halt consolidation and move toward 22,500+, we need sustainability above 22,150. Otherwise, profit taking may resume. Traders should follow the banking index for clues, while others may rotate support. Additionally, they will monitor worldwide indices, particularly the US.
| FII Sold | 3,064.15Â Cr |
| DII Bought | 2,276.93Â Cr |
Indian Market Stocks
| Sensex | 376.26 | +0.52% | 72,426.64 |
| Nifty 50 | 129.95 | +0.59% | 22,040.70 |
| Bank Nifty | 165.95 | +0.36% | 46,384.85 |
Market Movers
| Wipro | 24.50 4.73% | Power Grid Corp | -7.10 -2.52% |
| M&M | 70.50 3.99% | ONGC | -2.60 -0.94% |
| SBI Life Insura | 55.10 3.79% | SBI | -7.00 -0.92% |
| Adani Ports | 39.80 3.14% | Britannia | -36.85 -0.74% |
| Larsen | 86.45 2.62% | Reliance | -20.05 -0.68% |
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