Market opened on a flatter note at 14453 following the weak global cues. Global cues also indicated that this week would be sluggish and choppy as the global market movements showed small corrections with the opening all over the globe. The European Central Bank will meet on Thursday for the first time in 2021 as it tries to manage the impact of rising COVID-19 cases, a re surge in lock downs across the continent and taking into account preliminary PMI data from Europe. The continent has taken a hit in January as the spread of the virus has trumped the vaccine roll out. The impact of this can be seen on the markets all over the world. The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 47 points loss. Market Closes near Day’s Low; Sensex & Nifty Slip 1% Each For 2nd Straight Day. Nifty Gives Up 14,300, Ends with A Cut Of 152 Points At 14,281. Sensex Slips 470 Points To End The Monday Session At 48564.
Indian Union Budget
2021-22: As the countdown for the Union Budget 2021 has begun, all eyes are now
set on how the Hon’ble Finance Minister’s attempts to walk the tightrope to
strike a balance and play the role of a catalyst in the unprecedented time of the
pandemic crisis. If the index breaks below 14200, it would witness selling which would take the index towards
14,100-14000.
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Resistance: 14400, 14600
Support: 14200, 14000
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