NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 15 FEB 2023

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The market ended higher on Feb 14 with Nifty above 17900. At the close, the Sensex was up 600 points to 61032 and the Nifty was up 158 points to 17929. Domestic indices rose, inspired by their global counterparts as investors anticipated US inflation numbers today. The furor over India's retail inflation, which broke the RBI's tolerance level, was cooled by WPI inflation, which eased to 4.73% in January. IT stocks were in focus as investors expected US inflation to slow, which could lead to benign Fed policy. Markets rebounded sharply on Tuesday, gaining almost a percent. Initially, bullish global signals sparked a solid start, which was further bolstered by buying of select heavyweights throughout the day. As a result, Nifty cleared the 17925 hurdle and eventually settled around the daily high. Meanwhile, on the sector front, there was a mixed trend with Metals, FMCG, IT and Banking posting decent gains while Real Estate, Auto and Health Care closed lower. Signs of further recovery are favorable and now stands at 18,200 for Nifty. The move could be gradual, however, as participation from select index heavyweights is restricted. Traders should adjust their positions accordingly and favor index majors over others.

 Resistance: 18000, 18100, 18200

Support: 17900, 17800, 17700