Markets ended the volatile week on a flat note, here’s what experts say investors should do tomorrow

• Follow

Benchmark indices ended the last week on a flat note amid subdued trade in Asia and a bleak UK economic data.

The S&P BSE Sensex slipped  543 points from the day’s high to hit an intra-day low of 51,261. At close, the index was at 51,544 levels, up 13 points or 0.02% higher.

The Nifty50, meanwhile, ended at 15,163 level, down 10 points or  0.07% lower on February 12.

Adani Ports, ICICI Bank, Infosys, and Wipro were the top performing stocks on the Nifty while ITC, Sun Pharma, ONGC, and Bharti Airtel were the top laggards on both the indices.

Broader markets, too, ended mixed. While the S&P BSE MidCap index was up 0.06% at close, the S&P BSE SmallCap index settled 0.02% lower.

On the sectoral front, the Nifty Metal index fell 1.7%, followed by the Nifty FMCG index that declined 1.5%. On the positive side, the Nifty Bank gained 1%

For the week, the Sensex, Nifty & Nifty Bank gained over 1% e while the Midcap index  was up over 2%. Nifty IT & Realty  were the top gaining indices last week and were up 3% each.

Here’s what experts say markets are likely to move tomorrow and the strategy which investors’ must adopt in this week:

Ashish Kyal, Director & Founder, Waves Strategy Advisors:

Nifty post Budget had shown a string rise and we can now expect it to consolidate for few days. On Monday it is important to close in the range of 15,260-15,280 which will resume positive trend with 15,000 as near term support.

From weekly perspective prices have managed to protect prior week’s low thereby keeping the tone as buy on dips for now.

Ashis Biswas, Head of Technical Research, CapitalVia:

The market’s short-term technical conditions favouring a sideways correction is in the process. While it is subject to further price action evolution, we retain our cautious stance and advise the traders to refrain from building a new buying position until we see further improvement and breakout above 15,250 (Nifty 50 Index).

The momentum indicators like RSI, MACD continue showing divergence, the market is likely to take a pause around this level and stay in a range. We expect the 15,230-15,250 level to act as short-term resistance.

Rohit Singre, Senior Technical Analyst at LKP Securities

Index managed to hold the bullish stream throughout the week and closed a week at 15,163 with 1.60% gains and formed a small bullish candle on weekly chart.

The index has formed good support at 15k mark any dip near said levels will be again buying opportunity for the overall targets of 15,250 zone which is the strong hurdle on the higher side. The current range is 15,000-15,250 zone either side breakout will decide the final direction of index