iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Indian equity markets may see some volatility today

7 Feb 2023 , 08:51 AM

Indian equity markets are likely to see some volatility today. RBI will announce its interest rate decision tomorrow. The expectation is that it will go for a 25-basis point (0.25%) hike. But economists from SBI have said that RBI may not announce any interest rate hike tomorrow. 

US markets saw profit booking for 2nd day in a row, yesterday.  Bond yields rose with jobs numbers. US dollar saw some recovery. Dow Jones fell by 34 points, after being down by 240 points in intra-day trade. Technology stocks saw deeper profit booking .Nasdaq ended, down by 119 points.

Asian markets have opened in the green today. In the last few days some consolidation was being witnessed in Asian markets after the sharp rally through most of January. Japanese 'Nikkei is up by 60 points in early trade, today.  South Korean and ASX indices are also trading in the green. The Hang Seng is also on the rise today. After a superb January, it saw some bouts of profit booking yesterday.

Nifty saw another bout of profit booking yesterday, after the rally on Friday.  Weak global cues saw foreign selling continue. Most Adani large caps saw some consolidation. However, the illiquid smaller cap group stocks saw no let up as selling pressure continued. Bank Nifty ended down by 125 points. Nifty lost 89 points.  Kotak bank, ICICI and PNB saw selling pressure among banking stocks. Divi's Lab, JSW Steel & Hindalco were the top losers.

Technical View: Nifty is likely to find support at around 17650. 18150 is likely to act as resistance. Bank Nifty is likely to find support at around 40800. 42050 is likely to act as resistance on the upside.

Trading call:(1-14 days) : BUY L&T February future @ 2150-2160. Stop loss: 2112. Target : 2200.

Derivative call-time period: (1 months): Sell Tata Steel February future @ 116.5-118.5. Stop loss: 119.75. Target: 114.5.

  

explored-media

Related Tags

  • NSE
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Images
28 Mar 2024   |   01:02 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.