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Live: Nifty poised to clock weekly gains; Should you buy Vedanta after promoter stake sale?

The Nifty50 reached closer to the psychological mark of 22,000. If the index manages to close decisively above 21,950, the high seen in Thursday's trade, then the next immediate resistance is expected at 22,050 and then at 22,126, the record high, experts said, adding that the 21,800-21,750 zone is expected to act as immediate support for the index and 21,500 as a crucial support area. On February 16, the BSE Sensex jumped 228 points to 72,050, while the Nifty 50 rose 71 points to 21,911 and formed a Doji candlestick pattern on the daily charts as the closing was near opening levels, indicating the tug-of-war between bulls and bears for future market trend. This morning GIFT Nifty is hinting at a start above the 22,000 mark. Overnight on Wall Street S&P 500 notched a fresh record closing high. Meanwhile in Asia Nikkei is holding above 38,000 despite the Japanese economy slipping into a technical recession. Among stocks in focus will be Axis Bank, Yes Bank, Vedanta among others. Watch for Entero Health listing at 10 am. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-Founder NeoTrader & Trading Influencer and Aman Soni, Head of Operations, Prudent Equity.

first published: Feb 16, 2024 08:36 am