dalal street: Ahead of Market: 10 things that will decide the work of D-St on Monday

New Delhi: In the most painful week for D-Street investors in the past two years, the two main indexes, Sensex and Nifty, collapsed by more than 5 per cent each. Nifty ended the week below the 15300 level while closing at 51360.42.

Here’s how analysts read the pulse of the market:

On the upside, the 15,600 area (middle part of Thursday’s long bearish candle) is expected to act as critical upper resistance going forward and unlikely to be broken on the upside, said Nagaraj Shetty, Technical Research Analyst, HDFC Securities. hurry. He said that after a slight bounce to the upside, Nifty could slide to 15000-14800 levels in the near term.

15400-15500 is likely to remain a critical resistance area, said Rupak De, chief technical analyst at FTSE.

“Further upward movement only seems possible above 15500. On the flip side, a drop towards 15000 appears to be largely possible if Nifty maintains below 15300.”

However, here’s a look at what some key pointers suggest for Monday’s action:

The S&P 500 rose slightly, but still posted its worst week since 2020

US stocks closed modestly higher on Friday but still suffered their biggest weekly percentage drop in two years as investors grapple with the growing possibility of a recession as global central banks try to stamp out inflation.

Each of Wall Street’s three major indices fell for the third week in a row. The benchmark S&P 500 index suffered its biggest weekly percentage decline since March 2020, the peak of the COVID-19 pandemic decline.

The Dow Jones Industrial Average fell 38.29 points, or 0.13 percent, to 29,888.78 points, the Standard & Poor’s increased 8.07 points, or 0.22 percent, to 3,674.84 points, and the Nasdaq Composite Index increased 152.25 points, or 1.43 percent, to 10,798.35.

Over the week, the Dow lost 4.79%, the largest weekly percentage drop since October 2020, the S&P 500 lost 5.79% and the Nasdaq fell 4.78%.

European shares close lower for the third week

European shares rose on Friday, but posted a third consecutive week of losses as a string of interest rate hikes from major central banks fueled concerns about a sharp economic slowdown.

The pan-European Stoxx 600 index rose 0.1 percent in volatile trading, but ended the week down 4.6 percent.

Tech display: elegant indecisive doji candle shapes
Friday’s Nifty50 formed an indecisive doji candle on the daily chart. On the weekly range, it formed a long bearish candlestick. Analysts are not sure if there could be any recovery from here. They said the trend remains negative for now.

Stocks are showing a bullish bias
The Moving Average Convergence Divergence (MACD) indicator showed a bullish trading setup on the Sun TV counters,

and FDC Ltd and SIS India.

MACD is known to indicate trend reversals in stock or traded indices. When the MACD crosses above the signal line, it gives a bullish signal, which indicates that the price of the security may experience an upward movement and vice versa.

Arrows indicate weakness in the future
MACD showed bearish signals on the counters

And, and, and Segis Logistics, and. A bearish crossover on the MACD on these counters indicates that they have just started their bearish journey.

Most active stocks by value

(Rs 2,926 crore), TCS (Rs 1,609 crore), Infosys (Rs 1,342 crore), Rs 1,185 crore, Rs 1,115 crore and Tata Steel (1,106 crore) were among the top stocks Active in NSE by value repairers. The highest activity on the counter by value can help identify the counters with the highest turnover per day.

Most active stocks by volume

(shares traded: Rs 2.5 crore), ONGC (shares traded: Rs 2.3 crore), NTPC (shares traded: Rs 2.1 crore), Wipro (shares traded: Rs 2 crore), Hindalco (shares traded: Rs 1.8 crore) ) and ITC (shares traded: Rs 1.6 crore) are among the most traded stocks in the NSE session.

Stocks are showing buying interest

HAL shares saw strong buying interest from market participants as they climbed to new 52-week highs, indicating bullish sentiment.

Stocks are under selling pressure
Wipro, TCS,

BPCL, saw strong selling pressure and hit 52-week lows, indicating bearish sentiment over the counters.

Feelings meter prefer bears
In general, market breadth was in favor of losers as 999 shares closed higher, while 2,330 settled with cuts.