The Nifty futures closed negative at 14,642, down 2.30 per cent. Among specific stocks, Vedanta, Jubilant Foodworks, Torrent Power, Tata Chemicals, Indus Tower, Grasim and Kotak Bank NSE 0.56% saw a spurt in a trade setup, but in PVR, LIC Housing Finance, RBL Bank, Mindtree, M&M, Apollo Tire Weak. Bosch, Escorts, Federal Bank, ICICI Pru, Eicher Motor, Aurobindo Pharma, BEL, Canara Bank NSE – 3.31%, TCS, HCL Tech, Maruti, Dabur, Ambuja Cement, Cipla and Bharat Forge.
The Nifty opened flat on Monday and broke all immediate support levels to touch an intraday low of 14,635. Bear ruled the market and the index caused a deep cut in the end with a loss of around 300 points. The index constituted a Bearish belt hold kind of candle on the daily scale, as it remained in the hold of the bear and continued to build lower lows and lows for the fourth trading session. Now, as long as it remains below the 14,800 level, the weakness may continue and lead the Nifty to its next major support at the 14,500 and 14,400 levels, while the upside, the odds are 15,000 and 15,150. Are seen at the level.
The Bank Nifty opened flat but failed to stay above the 36,000 level and continued its southward journey towards the 35,100 marks. Banking stocks fell and the index closed with a loss of around 600 points. This formed a bearish candle on the daily scale and continued to create highs and lows for the fourth consecutive season. Now as long as it remains below the 36,000 level, the weakness may continue and the index can move up to 34,500 and then to 34,250, while on the upside, a major obstacle exists at the 36,500 level.
Asian stocks were mixed on Monday as concerns about inflation and continued economic damage were expected to overcome the coronavirus epidemic with a global rollout of vaccines.
Benchmarks rose in Hong Kong and Japan but fell in South Korea and Australia. Investors focus on the future of global economies severely affected by COVID-19, and when and what will be sufficient incentives to correct it.
Japan’s benchmark Nikkei 225 rose 0.8% to 30,250.83 in morning trading. South Korea’s Kospi declined 0.3% to 3,097.27. Australia’s S&P / ASX 200 was slightly changed, down 0.1% to 6,789.80. Hong Kong’s Hang Seng rose nearly 0.4% to 30,750.83, while Shanghai Composite was down 0.1% to 3,696.81.
In energy trading, US benchmark crude added 50 cents to $ 59.74 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, it was down from $ 1.27 to $ 59.26 a barrel. Internationally, Brent crude rose 62 cents to $ 63.53 a barrel.
In currency trading, the US dollar rose to 105.61 Japanese yen from 105.47 yen late Friday. The euro is priced at $ 1.2116, down from $ 1.2125.