Technical View: Nifty continues to say no for the fifth consecutive day, understand how the market temper will probably be on February 12 – INA NEWS

Technical View: At present, on February 11, the benchmark index continued to say no within the fifth consecutive season. The Nifty slipped under 23,000 ranges through the session. The index declined attributable to issues over all -round promoting and metal and aluminum imports on US President Trump’s new tariffs. After the weak begin of the market, Mandadis took the entrance and pulled the market additional down. The Nifty fell under 23,000 with all -round promoting for the primary time since January 28, 2025. However the final hour purchases helped the index to compensate for some harm. It closed at 23,071.80 with a decline of 1.32 p.c. On the similar time, the poor efficiency of the broader index continued. The Nifty Midcap index fell 3 p.c and the smallcap index fell to three.5 p.c.

Essentially the most declining shares on Nifty 50 embrace Apollo Hospitals, Eicher Motors, Shriram Finance, Coal India, Bharat Electronics. Whereas the rising shares included Shares of Adani Enterprises, Trent, Bharti Airtel, Grasim Industries.

All of the sectoral listed fall in crimson mark in auto, shopper durables, oil and fuel, power, FMCG, media, PSU financial institution and realty.

How will the market transfer on Wednesday 12 February

Nagraj Shetty of HDFC Securities Mentioned, “The market continued to say no within the fifth consecutive season on Tuesday. The Nifty closed down with a steep decline of 309 factors. After the unfavorable development opened, the market continued to fall within the session. Intrade weak spot started and the Nifty ultimately closed near the decrease degree. “

He additional stated, “It had an extended beer candle on the each day chart. It has decisively damaged the numerous help of 23400 ranges and closed on the decrease degree. Technically this sample signifies a robust unfavorable momentum available in the market. .

He stated, “Giant -scale recession patterns are seen on the each day chart. The Nifty is now slipping right down to create a brand new decrease backside under the extent of January 22786. Nonetheless, from right here, from right here Sturdy resistance will be seen across the degree of 23200 in any higher growth. “

The financial institution Nifty index was additionally underneath strain within the third season and fell 1.16 p.c to shut at 49,403.40.

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