Wednesday’s red opening day for the Nifty saw a gain, but what comes next? Before the market opens, see GIFT Nifty, FII statistics, F&O, crude, and more

At 104.68, the US Dollar Index (DXY), which gauges the value of the dollar relative to a basket of six international currencies, had a decrease in trading of 0.04%.

Basic Petroleum

On Thursday morning, the price of WTI oil is down 0.31% at $76.31, while the price of Brent crude is down 0.47% at $81.21.

Markets in Asia
The Asia-Pacific region’s Asian equities indexes rose after plunging on Wednesday. At 37,984.18, the Nikkei 225 of Japan was up 0.74%. The Hang Seng index for Hong Kong was up 0.84% at 15,879.38. The Asia Dow was down 0.19 percent at the time. The Shanghai Composite, the benchmark Chinese stock, will be closed for the whole week.

FII and DII Information

Shares with a net value of Rs 3,929.60 crore were sold by foreign institutional investors (FII). However, based on preliminary data available on the NSE, domestic institutional investors (DII) purchased shares on February 14, 2024, with a net value of Rs 2,897.98 crore.

Ban F&O

Aditya Birla Fashion, National Aluminium, PNB, Sail, Zee Entertainment Enterprise, Biocon, Delta Corp, Balrampur Chini Mills, Ashok Leyland, Aurobindo Pharma, and Bandhan Bank would all be involved.

Technical Perspective
Considering the technical perspective According to Sharekhan by BNP Paribas technical research expert Jatin Gedia, the Nifty begun Wednesday’s trading session much lower than it ended. Bulls, on the other hand, jumped in to boost the index and helped it close higher.

“On the hourly charts, the index has reached the upper end of the falling channel, which may result in some consolidation with a positive bias. On the daily charts, we can see that the Nifty has held on to the support zone of 21550 – 21530 and witnessed a sustained buying interest throughout the day. The daily upper Bollinger band is located between 22000 and 22020, which represents the immediate obstacle on the upside. At this point, the support is moving higher between 21650 and 21670, according to Gedia.

Bank Nifty Prospects
The 200-day moving average (44900) has once again been respected by the Bank Nifty, and until it breaks below it, upward momentum should persist until it reaches 46500–46900, according to Jatin Gedia, a technical analysis analyst at Sharekhan by BNP Paribas.