Meanwhile, volatility gauge India VIX ended at 14.36, up 6.7% from the previous close.
Market Pulse
Rupak De, senior technical analyst at LKP Securities, said the index found support at earlier lows while facing resistance at the 21-EMA on the daily chart. “While Nifty ended higher, RSI remains in a bearish crossover, indicating weak momentum,” he noted. D expects volatility to continue in the coming days, with the index likely to oscillate between 25,300 and 25,800. Immediate support is at 25,500, while resistance is at 25,650.
US markets
US markets closed higher on Friday, reacting positively to the Supreme Court’s decision to strike down sweeping tariffs imposed by President Donald Trump. The tariff, known as the Liberation Day Tariff, has been in effect since April last year.
The Dow 30 closed up 0.5%, or 231 points, at 49,626, while the S&P 500 gained 48 points, or 0.70%, to settle at 6,909.51. The Nasdaq Composite rose 0.9%, or 203 points, to 22,886.10.
European markets
Major European indices also posted strong gains on Friday. The UK’s FTSE 100, Spain’s IBEX, Stoxx 600, France’s CAC 40, and Germany’s DAX advanced between 0.6% and 1%.
Tech View
Decoding the technical charts, Bajaj Broking said the index formed a bullish candle with an upper shadow on the daily chart, indicating a bounce from lower levels while highlighting supply in higher zones. The Nifty is trading below its 21-, 50-, and 100-day EMAs, with strong support near the longer-term 200-day EMA around 25,250.
“In the near term, the index is expected to consolidate in a broader range of 25,000-26,000, maintaining a sideways bias. Volatility remains elevated, with the India VIX rising amid lingering geopolitical concerns. Immediate support is seen at 25,350, which is at 250, 2000, respectively. The 200-day EMA and the May act as a major cushion, with resistance placed at 25,650 and 25,720, where any pullback to higher levels will face selling pressure,” the brokerage said.
Most active stocks in terms of turnover
Netweb Technologies (Rs 24 crore), Polycab India (Rs 208 crore), Nitin Spinners (Rs 177 crore), ABB India (Rs 166 crore), Nugen Software Technologies (Rs 137 crore), NTPC (Rs 131 crore), and IndusInd Bank (BRSE2) were the most active. Value A high value turnover highlights counters with significant trading activity during the session.
Most active stocks in terms of volume
Vodafone Idea (3.29 crore shares), SpiceJet (1.83 crore), EaseMyTrip (1.34 crore), Suzlon Energy (73.12 crore), Ola Electric (72.52 crore), Yes Bank (53.47 lakh), and Nitin Spinners (41.88 lakh) are the most actively traded on BSE.
Stocks show interest in buying
Strong buying interest was seen in Hindalco Industries, Novartis India, GMDC, VL e-Governance & IT Solutions, KRN Heat Exchanger & Refrigeration, Centum Electronics and Control Print.
52-week high
Today, 82 stocks touched their 52-week highs while 204 stocks slipped to their 52-week lows. Stocks that hit 52-week highs include Aditya Birla Sun Life AMC, Accelerates India, Apar Industries, Arman Holdings, L&T, ONGC and NTPC.
Selling pressure is seen in stocks
Among large-cap names, Eternal, Infosys and Tech Mahindra were under selling pressure. Other stocks with significant declines include Newgen Software Technologies, Godfrey Phillips, Vikram Solar, Transworld Shipping Lines and Power & Instrumentation.
The sentiment meter favors the bears
While heavyweights like L&T, Reliance Industries (RIL), and NTPC supported the markets, the overall breadth remained negative. Of the 4,349 stocks traded on BSE on Friday, February 20, 1,882 advanced, 2,303 declined and 164 remained unchanged.
(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)
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