Wednesday, February 12, 2025
Market Overview
- On Tuesday, the Indian stock market experienced a significant decline.
- Sensex: Dropped by 1,018.20 points (1.32%) to close at 76,293.60.
- Nifty 50: Fell by 309.80 points (1.32%) to end at 23,071.80.
Key Factors Influencing the Market
- Weak Domestic Earnings: Recent corporate earnings have not met market expectations, leading to reduced investor confidence.
- Global Trade Concerns: Ongoing uncertainties regarding U.S. trade policies and potential tariffs are affecting global market sentiments.
- Foreign Institutional Investors (FII) Selling: Continuous selling by FIIs has added to the downward pressure on the market.
Technical Insights
- The Nifty index formed a long bearish candle on the daily chart, breaking the crucial support level of 23,350 and eventually breaking below 23265.
- This pattern indicates strong downward momentum, with the next significant support zone around 22,900 and crucial support at 22786, which was the last swing low on daily chart.
- Resistance levels are at 23,200 and 23,265 and 23,350.
- Although the technical view on Nifty chart is of Sell on Rise.
Market Sentiment
- The ongoing uncertainty surrounding U.S. trade policies and tariffs, coupled with domestic economic growth concerns and persistent selling by FIIs, is dampening market sentiment.
- The larger degree bearish pattern like lower tops and bottoms is visible on the daily chart, and the Nifty is now sliding down to form a new lower bottom below the swing low of January at 22,786 levels.
Outlook for Wednesday
- Given the current technical indicators and global uncertainties, markets are expected to remain volatile, with bias towards downside.
- Traders are advised to exercise caution, trade with strict SL. As the market sentiment is Bearish right now, it is advised to look for selling opportunities when market rises to resistance levels. Resistance levels are at 23,200 and 23,265 and 23,350.
Stay Informed with Market Mint and trade responsibly.
-Team Market Mint
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Note: This newsletter is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly, and it’s essential to conduct thorough research or consult with a financial advisor before making investment and trading decisions.
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