Ahead of Market: 10 things that will decide D-Street action on Monday

India’s benchmark indices bounced back on Friday, ending higher despite intraday volatility. While IT stocks weighed on sentiment, buying across other sectors supported the recovery. The Nifty rose 116.90 points, or 0.46%, to close at 25,571.25, while the BSE Sensex gained 316.57 points, or 0.38%, to finish at 82,814.71.

Meanwhile, the volatility gauge India VIX ended at 14.36, up 6.7% from the previous close.

Market pulse

Rupak De, Senior Technical Analyst at LKP Securities, said the index found support around the previous low while facing resistance at the 21-EMA on the daily chart. “While Nifty ended higher, the RSI remains in a bearish crossover, indicating weak momentum,” he noted. De expects volatility to continue over the coming days, with the index likely oscillating between 25,300 and 25,800. Immediate support is at 25,500, while resistance lies at 25,650.

US markets

US markets ended higher on Friday, reacting positively to the Supreme Court’s decision to overrule sweeping tariffs imposed by President Donald Trump. These tariffs, referred to as Liberation Day tariffs, have been in place since April last year.

The Dow 30 closed up 0.5% or 231 points at 49,626, while the S&P 500 settled at 6,909.51, gaining 48 points or 0.70%. The Nasdaq Composite rose 0.9% or 203 points to 22,886.10.

European markets

Major European indices also posted strong gains on Friday. The UK’s FTSE 100, Spain’s IBEX, Stoxx 600, France’s CAC 40, and Germany’s DAX advanced between 0.6% and 1%.

Tech view

Decoding the technical charts, Bajaj Broking said the index formed a bullish candle with an upper shadow on the daily chart, indicating a bounce from lower levels while highlighting supply at higher zones. Nifty is trading below its 21-, 50-, and 100-day EMAs, with the next strong support near the long-term 200-day EMA around 25,250.

“In the near term, the index is expected to consolidate within a broad range of 25,000–26,000, maintaining a sideways bias. Volatility remains elevated, with India VIX spiking amid lingering geopolitical concerns. Immediate support is seen at 25,350, followed by 25,200, which aligns with the 200-day EMA and could act as a key cushion. On the upside, resistance is placed at 25,650 and 25,720, where any pullback toward higher levels is likely to face selling pressure,” the brokerage said.

Most active stocks in terms of turnover

Netweb Technologies (Rs 24 crore), Polycab India (Rs 208 crore), Nitin Spinners (Rs 177 crore), ABB India (Rs 166 crore), Newgen Software Technologies (Rs 137 crore), NTPC (Rs 131 crore), and IndusInd Bank (Rs 127 crore) were among the most active stocks on BSE by value. High value turnover highlights counters with significant trading activity during the session.

Most active stocks in terms of volume

Vodafone Idea (3.29 crore shares), SpiceJet (1.83 crore), EaseMyTrip (1.34 crore), Suzlon Energy (73.12 crore), Ola Electric (72.52 crore), YES Bank (53.47 lakh), and Nitin Spinners (41.88 lakh) were among the most actively traded stocks by volume on BSE.

Stocks showing buying interest

Hindalco Industries, Novartis India, GMDC, VL E-Governance & IT Solutions, KRN Heat Exchanger & Refrigeration, Centum Electronics, and Control Print witnessed strong buying interest.

52-week highs

Today, 82 stocks hit their 52-week highs while 204 stocks slipped to their 52-week lows. Stocks hitting 52-week highs included Aditya Birla Sun Life AMC, Acceleratebs India, Apar Industries, Arman Holdings, L&T, ONGC, and NTPC.

Stocks seeing selling pressure

Among large-cap names, Eternal, Infosys, and Tech Mahindra faced selling pressure. Other stocks with notable declines included Newgen Software Technologies, Godfrey Phillips, Vikram Solar, Transworld Shipping Lines, and Power & Instrumentation.

Sentiment meter favors bears

While heavyweights like L&T, Reliance Industries (RIL), and NTPC supported the markets, overall breadth remained negative. Out of 4,349 stocks traded on BSE on Friday, February 20, 1,882 advanced, 2,303 declined, and 164 remained unchanged.

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