Stock Market Today: Nifty Breach of 22.5k May Open Path to 21800
Stock Market on Tuesday! (Image credit X.com)
Traders Wait for Cues Amid Dull Session in Stock Market
By S Jha
New Delhi, February 25: Stock market on Tuesday witnessed a dull session. Nifty closed the day almost flat. Sensex gained 147 points. Bank Nifty also closed flat with minor loss.
But traders are wary of consequences of Nifty giving away the major support of 22800. Bears knocked away the major support after several attempts. Market participants are worried of weakness amid flight of capital.
“Consistent FPI outflows, escalated trade war and concerns over U.S. tariffs are having a significant impact on the markets as the markets remain subdued,” StockEdge said in a post-market commentary. The Kolkata-based brokerage said that the “level of 22500 is a key support for Nifty 50 but a breach of this level will open the doors to 21800”.
It also stated that “after the gap down move yesterday, the day’s high of 22668 is now the resistance” for the 50-share index. Amit Seth, Kolkata-based capital market analyst, also noted that the stock market was dull for the day on Tuesday.
Seth, however, stated in his Telegram channel that the foreign institutional investors continue to have edge over their domestic counterparts. The FIIs are selling in relatively very high volume.
The tug-of-war between the FIIs and the DIIs has been a theme of stock market for past few days. But the DIIs are not able to surpass the FPI outflow from the stock market.
Market participants are also fretting a lack of leadership. None of the heavyweight scrips is showing leadership on the bourses. Worse is the fact that relatively stable stocks are also cracking amid relentless selling by the FIIs.
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“Nifty Bank was also seen trading sideways as it struggled to find its direction. As of now index is holding above 48500 but 48000 is the key support level,” stated StockEdge in its statement on the Telegram channel.
Incidentally, both Nifty and Bank Nifty are facing risks of major supports coming under bear attacks. The market participants are also getting worried of indices forming narrow bands on lower sides.
US President Donald Trump’s reciprocal tariffs have become major concerns for the stock market. While DIIs are showing buying appetite, market participants are keeping a watch on retail activities in the stock market.
(Disclaimer: This article makes no recommendation for buy or sell of shares of any company)
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