Ahead of Market: Ahead of Market: 10 things that will decide D-Street’s action on Tuesday

New Delhi: Amid positive global indices and supported FII buying, domestic equity indices continued their winning streak for the fourth consecutive week. Nifty ended the week up 1.73% while Sensex added 1.84%.

Here is how analysts read the pulse of the market:

Deepak Jasani, head of retail research, HDFC Securities, said the Nifty rose for seven weeks from lows of 15,183 (with a near negative in between). “He could now top for that move in the band 17,784-18,115 and later correct. On the falls, 17,556 and 17,407 are the supports,” he said.

Prashanth Tapse – Research Analyst, Senior Vice President (Research), Mehta Equities, said the technical landscape for Nifty is likely to be positive as long as the benchmark is trading above its biggest support at 17,527 with targets at 17,889, then the psychological 18,000 mark.

That said, here’s a look at what some key indicators suggest for Tuesday’s action:

US stocks fall as Chinese data sparks fear

Major Wall Street indexes opened lower on Monday, mirroring global markets, after weak economic data out of China reignited fears of an economic slowdown in the world’s second-largest economy.

The Dow Jones Industrial Average fell 50.35 points, or 0.15%, at the open at 33,710.70.

The S&P 500 opened down 10.78 points, or 0.25%, at 4,269.37, while the Nasdaq Composite fell 50.56 points, or 0.39%, at 12,996.63 to the opening bell.

European stocks
As European stocks stabilize at 10-week highs, it can be forgotten that many players are expecting a recession by the end of the year.

The benchmark pan-European equity index rose 0.2% for the last time.

There was some relief on earnings as Hellofresh confirmed its 2025 guidance and said it was cautiously optimistic about H2, sending its shares up 9% to the top of the STOXX.

Tech View: Long bullish candle on the weekly chart

Nifty50 formed a small bullish candle on the daily chart and a long bullish candle on the weekly chart, the fourth in a row. Analysts said bulls should be cautious at this stage and believed profit booking at higher levels could not be ruled out.

Stocks Showing a Bullish Bias
The Momentum Moving Average Convergence Divergence (MACD) indicator showed a bullish trade on the Bharat Forge counters,

PNB Housing, , Vaibhav Global and .

The MACD is known to signal trend reversals in traded securities or indices. When the MACD crosses above the signal line, it gives a bullish signal, indicating that the price of the security may see upward movement and vice versa.

Stocks Signal Weakness Ahead
The MACD showed bearish signs on the UCO Bank counters,

, , and . A bearish crossover on the MACD on these counters indicated that they had just begun their downward journey.

Most active stocks by value
RIL (Rs 1,533 crore), Tata Steel (Rs 1,073 crore), ICICI Bank (Rs 936 crore), Divi’s Labs (Rs 797 crore),

(Rs 758 crore) and HDFC Bank (Rs 657 crore) were among the most active stocks on NSE by value. Higher activity on a counter in terms of value can help identify counters with the highest turnover for the day.

Most active stocks by volume
Tata Steel (Shares traded: 9.6 crores), ONGC (Shares traded: 4.1 crores), NTPC (Shares traded: 1.8 crores),

(Shares traded: 1.3 crore), SBI (Shares traded: 1.2 crore) and ICICI Bank (Shares traded: 1.1 crore) were among the most traded stocks during the session on NSE.

Stocks showing buying interest
Shares of Tata Elxsi,

, Trent, and witnessed strong buying interest from market participants as they hit new 52-week highs, signaling bullish sentiment.

Stocks are under selling pressure

Shares of

witnessed heavy selling pressure and hit their 52-week lows, signaling bearish sentiment on the meters.

Sentiment meter favors bulls
Overall, market breadth favored losers as 1,760 stocks ended in the green, while 1,628 names settled with cuts.

(With agency contributions)

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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