The market opened flat on February 10, 2020, overall volumes in futures & options currently stand at 1.12 crore contracts with a turnover of Rs. 8,06,709.70 crore.

The market opened flat on February 10, 2020, overall volumes in futures & options currently stand at 1.12 crore contracts with a turnover of Rs. 8,06,709.70 crore.

The market opened flat on February 10, 2020. The previous trading session witnessed the Sensex going down by 164.18 points to end at 41,141.85 and the Nifty was down by 39.60 points to close at 12,098.35. 

The market opened flat on February 10, 2020. The previous trading session witnessed the Sensex going down by 164.18 points to end at 41,141.85 and the Nifty was down by 39.60 points to close at 12,098.35.

Nifty has already shown a few signals of exhaustion at current levels. There is a high probability that the consolidation that has begun may stretch to the coming week as well and during this consolidation phase, it’s important that Nifty should hold above 12,000 mark. Stocks in news: Dr Reddy’s Laboratories, Ultratech Cement, UPL, OM Metal Infraprojects, Cipla, Maruti Suzuki India.

The news from domestic as well as from the global front is not encouraging for the Indian markets on Monday. Firstly, the death toll from a coronavirus outbreak surpassed the SARS epidemic and secondly, TV exit polls are indicating thumbs up for Aam Aadmi Party (AAP) in Delhi. All-in-all, D-street braces for an unwelcome start to the week. Currently, SGX Nifty is down by 2 points trading at 12,082 levels.

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Considering the weekly time frame, the index has formed bullish engulfing candlestick pattern. The bullish engulfing candlestick pattern is considered to be a bullish reversal pattern and usually occurs at the bottom of a downtrend.

The stock of AIA Engineering Limited has given a downward sloping trendline breakout on the weekly scale. The breakout was supported by relatively higher volumes.

Infosys Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.