Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates Tuesday 21 February

Ambuja Cements shares rose 2.5% to Rs 362.10 and ACC shares rose 0.23% to Rs 1855.00 after both the firms stated that they will resume operations at Gagal and Darlaghat plants in Himachal Pradesh immediately. Both the firms’ new freight rates have been set 10-12% lower than the earlier rates.

“The evening star pattern showed its might by gripping the trend under a bearish cloud, but the downside momentum thereof was not enough to breach our downside marker of 17750. Given the proximity of the declining trendline, a bounce back is likely, but the prospects of a meaningful move thereof will depend on how stubborn the congestion resistance band of 17868-940 will be. Inability to clear the same or an outright fall below 17750 will expose 17300 again, but we are not leaning towards a collapse at this point.” – Anand James – Chief Market Strategist at Geojit Financial Services.

The BSE Sensex rose 81.89 pts or 0.13% to 60,773.43 and NSE Nifty 50 climbed 34.50 pts or 0.19% to 17,879.10.

The NSE Nifty 50 rose 61.20 pts or 0.34% to 17,905.80 and BSE Sensex climbed 78.89 pts or 0.13% 60,770.43.

“Nifty support placed at 17796, followed by 17,726 and the resistance level at 17,975 and 18,084. Bank Nifty support is seen at 40,514 and 40,234 and resistance at 41,195 and 41,597.” – JM Financial.

“The BANK NIFTY bears continued to attack at the higher levels and the index witnessed selling pressure throughout the day. The trend remains negative and one should keep a sell-on-rise approach as long the index stays below the level of 41,500 where the highest open interest is built up on the call side. The next support is visible at 40000 where some amount of put writing is visible.” – Kunal Shah, Senior Technical Analyst at LKP Securities.

“On the daily charts, the Nifty has come back within the downward sloping channel from which it broke during the last week. On the hourly charts, we can observe that the Nifty has closed below the key hourly moving averages which is a sign of weakness in the short term. Prices are moving along the hourly lower Bollinger band which is expanding indicating that the fall is likely to continue. Thus, considering the above parameters we change our short-term outlook on the Nifty to sideways. The range of consolidation is likely to be 18150 – 17650. In terms of levels, 17920 – 17970 shall act as immediate hurdle one while on the downside the 17650 – 17600 which convinces with the 61.82% Fibonacci retracement level shall act as a crucial support to watch out for form short term perspective.” – Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

“Prices are still hovering near their breakout levels but have closed marginally below their 9 & 21 EMA on the daily chart. The momentum oscillator RSI (14) is reading between 30-55 levels for the past two months and finding a strong overhead resistance near 55 levels. In the coming days, 17,700 will be sacrosanct support for the Nifty, while 18,100 could be an immediate hurdle. A break above 18,100 levels will infuse buying towards 18,250 levels. Similarly, a break below 17,700 will open the gate for 17,450 levels on the lower side.” – Rohan Patil, Technical Analyst, SAMCO Securities.

The US markets remained closed on Monday. On Friday, most of the US indices ended in the red territory with tech-heavy Nasdaq falling 69.56 pts or 0.56% to 11,787.27, S&P 500 dipping 11.32 or 0.28% to 4,079.09 while Dow Jones Industrial Average rose 129.84 pts or 0.39% to 33,826.69.

Japan’s Nikkei 225 was down 0.05%, Hong Kong’s Hang Seng fell 0.59% while China’s Shanghai Composite index was up 0.26% and South Korea’s KOSPI rose 0.17%.