Daily share market update

NIFTY ended the unpredictable session on February derivatives expiry day. The 50-share NSE index NIFTY ended marginally lower by 0.14% to settle at 10382.70 on Thursday. The Indian benchmark index NSE NIFTY ended the volatile session by recovering sharply from day’s low in the final hour of trade as participants of February series contracts in the derivatives segment squared-up their positions. The investors were cautious all over the day on the account of February derivatives expiry amid sustained foreign fund outflows and weak global cues.

Looking overseas, European markets opened lower in line with Asian markets which finished mixed to lower on Thursday. The global equity markets sank on Thursday as investors are concerned over the minutes from the Federal Reserve’s meeting last month which ignited fears about inflation and rising bond yields.

Among sector gauges compiled by the NSE, NIFTY IT, NIFTY REALTY, NIFTY PVT BANK, and NIFTY PHARMA excelled as top gainers while NIFTY AUTO, NIFTY MEDIA and NIFTY PSU BANK are top losers.

From the NIFTY 50 basket of shares, SUNPHARMA, AUROPHARMA, ADANIPORTS, INDUSINDBK, and M&M outperformed as top gainers while ONGC, EICHERMOT, DRREDDY, MARUTI, POWERGRID, and AMBUJACEM are the top losers.

Top 10 stocks stock picks for tomorrow 23 Feb

IDBI: This stock surged by 5.41% and closed at Rs.74.1 at last trading session. This stock trading volume inflated 3 times with the majority of intraday trades. This stock is currently trading above the recent resistance zone as it is steadily climbing for 3 days and the short term support around Rs.57.

COLPAL: This stock dipped by 3.57% and to close at Rs.1042.15 at last trading session. This stock trading volume rose 1.5 times with 56% of the trades are taken for delivery. This stock is trading inside the trading below its recent support zone and the near term resistance is seen around Rs.1163.

BPCL: This stock plunged by 4.49% and settled at Rs.427.45 on Thursday. The strength of the sellers is evident from the opening gap appeared in the daily chart on the back of 99% inflated trading volume. This stock is trading below its recent support zone as it is steadily scaling down for 4 days and the near term resistance is around Rs.494.

ADANIENT: This stock witnessed Bullish Engulfing pattern on the daily chart as it rose 2.99% at last trading session. This stock did rise in the last trading session but fell by a significant margin on a weekly basis. This stock is trading inside the trading range and the support is seen around Rs.190 and resistance is seen around Rs.221.

INFY: This stock is one among the top traded stocks as it 76% of the trades is taken for delivery. Derivative traders were aggressive in adding long positions and the Open interest increased by 4.89%. This stock is oscillating nearer to its resistance zone of Rs.1195.

BOSCHLTD: This stock trading volume increased 1.5 times with the majority of intraday trades on Thursday. The intensity of the sellers is evident from the unfilled gap appeared in the daily chart. This stock is trading below its recent support zone as it is frequently scaling down for 4 days and the near term resistance is around Rs.19963.

MOTHERSUMI: This stock witnessed the star pattern on the daily chart at last trading session. This stock trading volume rose 2.5% to 65% of the trades are taken for delivery. This stock is trading below its recent support zone and the near term resistance is seen around Rs.382.

IBULHSGFIN: This stock witnessed Bullish Engulfing pattern on the daily chart at last trading session. This stock is listed in top traded counters as it 61% of the trades is taken for delivery. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.1230.

AUROPHARMA: This stock witnessed Bullish Engulfing pattern on the daily chart as surged 2.78% at last trading session. This stock trading volume inflated 1.5 times with the majority of intraday trades. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.573.

M&M: This stock witnessed Bullish Engulfing pattern on the daily chart at last trading session. Derivative traders were aggressive in adding long positions and the open interest surged by 21.53%. This stock is currently trading around the lower range of its price band and the crucial support zone is around Rs.718.