Again a negative start will expect from the market...

WEEKLY EQUITY BULLETIN FROM 21 FEB TO 25 FEB 2022

Consistent selling by FIIs and elevated oil prices fuelled worries in investors amid escalating tension between Russia and Ukraine and soaring inflation in the US. The benchmark indices, as a result, extended losses for the second consecutive week ended February 18.

Hefty buying on Tuesday and consolidation in the following sessions helped the market curtail some losses to end half a percent down for the week, in addition to the 0.8% correction seen a week back.

The BSE Sensex was down 320 points at 57,833 and the Nifty50 fell nearly 100 points to 17,276, while the selling pressure was more in broader markets as the Nifty Midcap 100 and Smallcap 100 indices declined 2.7% and 3.4%.

Nifty Futures

On the weekly basis, the Nifty future has resistance around 17500, if it breaks and closes above 17500 will see an upside rally till 18150 and further to 18350 levels in upcoming trading sessions.

Major support around 16900, if it breaks & closes below 16900 will see sharp downside panic till 16500 and then to 16250 levels in upcoming trading sessions.

Intraday Levels

Nifty Future has resistance around 17400, breaks above 17400 will see intraday upside movement till 17500---17550 levels while Support around 17200, breaks below 17200 will see intraday sell-off till 17100---17000 levels on the Monday trading session.

Bank Nifty Futures

On the weekly basis, the Bank Nifty future has resistance around 38500, if it breaks and closes above 38500 will see an upside rally till 39800 and further to 40250 levels in upcoming trading sessions.

Major Support around 36700, if it breaks and close below 36700 will see downside fall till 35300 and further to 34700 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 37800, breaks above 37800 will see an intraday upside movement till 38150---38350 levels while Support around 37200, breaks below 37200 will see intraday sell-off till 36800---36700 levels on the Monday trading session.

Weekly Top Pick Stock

Hindustan Unilever Ltd.

Buy HINDUNILVR FUTURE above 2340 with a stop loss below 2270 levels for an upside movement till 2430---2450 +++ levels in days to come.

Housing Development Finance Corp Ltd.

Buy HDFC above 2452 with a stop loss below 2290 levels for an upside target of 2620----2650 +++ levels in days to come. *T&C Apply...