Review of last week analysis –
As predicted last week was pretty volatile. Thanks to multiple events and conjunctions. Nifty opened Gap down but went up and closed 300 points up on Monday. Then hit resistance around 25900 level by mid-week and then retested 25400 level forming a base on Friday. This week alone Nifty moved around 1300 points both up and down.
Let’s look at the analysis for this week from Feb 23- Feb 27
Fundamentals Analysis –
Global Sentiment – The primary driver of global sentiment currently is the U.S. Supreme Court’s decision to strike down several emergency tariffs implemented by the Trump administration.
This has led to a significant rally globally. GIFT Nifty is already signaling a potential gap-up opening of over 1% for the coming week.
This optimism might get offset with escalating U.S.-Iran tensions and rising crude oil prices, which traditionally has dragged Nifty and Banknifty due to inflation concerns.
Domestic factors – The AI risk factors in tech sector still persist. Indian IT sector has seen 8% fall recently and the fears of global AI disruption still exists.
Institutional Flow Bias –FII are becoming net buyers in this month after being heavy sellers last month. DII remain heavy buyers.
Overall, fundamentally market looks Bullish to cautious this week.
Technical analysis –
Option Chain – In the weekly Option chain max Put OI is on 25000 and max call OI is at 27000. The option chain looks too bullish this week.
Nifty made a weak Bullish candle last week which can be considered as hault candle as compared to previous week’s bearish candle. There looks to be a strong resistance at 26000 levels which has been tested multiple times, if nifty sustains above this level the trend can change to Bullish for sometime.
Technical analysis weekly range : 26000 – 25000 with immediate support at 25400
(Check daily intraday levels on this Page)
Astrological analysis –
This week starts with Muntha in 8th house along with retrograde Jupiter. Moon in 6th house, Sa in 5th and Ke in 10th doesn’t look very good for Nifty specifically for start of the week.
The mid week (Feb 25-27) looks Bullish to sideways as Jupiter moves to 2nd house, Moon is in 1st house in taurus, while Sa in 11th will be restrictive to break the important resistance zone. The conjunction of Mars, Venus, Rahu, Mercury and Sun in 10th house might indicate market volatility based on news.
Note – Even though there is high probability of Nifty opening gap up on Monday as indicated by fundamentals but as per astrological analysis it might not sustain or become sideways. Will be interesting to see.