India VIX fell 7.79% from 22.49 to 20.74 levels. A cooldown in VIX below the 21-20 zone is needed for the bullish grip and a smoother move to continue in the market.
Despite the recent recovery from the last week s low, Nifty is still having bearish formation of lower top and lower bottom formation on the daily charts. Unless Nifty closes above 15,180, trend would be considered bearish. However, the trend of midcap and smallcap stocks has been strong and stock specific bullishness is likely to continue. Supports for the Nifty are seen at 14,760 and 14,638.
Stock recommendation:
BUY Torrent Power (390) | Target: Rs 420 | Stop-loss: Rs 370 The stock registered new all-time high in February 2021 by surpassing the multi-month consolidation. Volumes went up significantly during the price breakout. Power sector, too, has been outperforming for last one month and the trend is likely to continue in the coming days. The stock price is forming higher tops and higher bottoms. Besides, the stock has been trading above all important moving average parameters. Indicators and oscillators like RSI, MACD and DMI have turned bullish on short term charts.
Share Market Highlights: Sensex ends 749 points higher, Nifty at 14,761; ONGC, PowerGrid, Titan top gainers
Stock Market Updates Today: Sectorally, all the indices were rising, with 1.8% rise in media, financial services, PSU Bank and private banking indices.
BusinessToday.In | March 1, 2021 | Updated 18:46 IST
Share Market News: Here s a look at the updates of the market action on BSE and NSE today
Sensex, Nifty Updates on March 1: Domestic equity benchmarks Sensex and Nifty registered significant gains on Monday and ended near day s high, tracking positive cues from positive global equities. Reversing from major sell-off during last week, Sensex ended 749 points higher at 49,849 and Nifty gained by 232 points to 14,761. The market also reacted to encouraging Q3 GDP data announced after market hours on Friday. Meanwhile, Markit Manufacturing PMI for February will be declared today, 1 March 2021. Last Friday, Sensex ended 1,939 points lower at 49,099 and Nifty fell by 586 points