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Live: Nifty to consolidate further? Hero, ONGC & Coal India in focus | Oil outlook with Peter Mcguire

Indian equity market is expected to remain in a consolidative phase in the coming sessions with key support at 21,600-21,500 zone, while the hurdle on the higher side is expected to be at 22,050, the high of last week, experts said, adding if the index breaks the support, then selling pressure may extend further to 21,300 but surpassing the resistance (22,050) may take it to a new high. On February 9, the BSE Sensex rallied 167 points to 71,595, while the Nifty 50 rose 64 points to 21,783. The index also held 21-day EMA (exponential moving average 21,670), which can be an immediate support for the index. Meanwhile, the broader markets witnessed a sharp correction. The Nifty Midcap 100 index was down 0.89 percent and Nifty Smallcap 100 index fell 1.4 percent. This morning global cues are largely mixed after S&P 500 ended above the 5,000 level for the first time ever. The Gift Nifty is hinting at an open above the 21,900 mark. Among stocks in focus will be Hero Motocorp, ONGC, Aurobindo pharma and Coal India. Meanwhile shares of Apeejay Surrendra will list on the bourses today. We also have Peter Mcguire of XM Australia joining us in our studio for an outlook on where crude prices are headed amid the ongoing Red Sea tensions. Also joining us will be Rajesh Palviya, Axis Securities for chart checks and your stock related queries.

first published: Feb 12, 2024 08:33 am