Nifty ends F&O expiry near 15,100, here’s how the experts see markets trading in March series

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Indian stocks ended higher for the third day in a row on positive global cues.

Strong gains were also seen in the broader markets. Gains in heavyweight Reliance Industries and energy stocks lifted Indian markets on Thursday with F&O expiry near the 15,100-mark.

While the Nifty 50 index ended 0.77% higher at 15,097, the S&P BSE Sensex closed with 0.51% gains at 51,039.

Except for the FMCG index, all other sectoral indices ended in the green with metal index rising 4% and energy index adding 3% in trade today.

BSE midcap index rose 1% and the BSE Smallcap index surged 1.4% to close at 20,304, hitting a intraday record high of 20,321 in today’s session.

Here is what experts believe investors should do on February 26

Mudit Goyal, Research Analyst, SMC Global

Markets extended yesterday’s rebound and gained nearly a percent on the F&O expiry day. However, profit-taking at the higher levels capped upside as the day progressed. Finally, the Nifty index ended with healthy gains of 0.8% to close at 15,097 levels.

Among the sectors, all sectors ended in the green expect FMCG and Capital goods.

On the broader charts, Nifty is continuously trading in higher highs and higher lows on charts, which is bullish in nature. So buying momentum may continue for coming days.

Nifty may face resistance around 15,180-15,250 levels whereas 15,000-14,950 may act as support zone for Friday.

Shrikant Chouhan, EVP, Equity Technical Research, Kotak Securities

The market showed further continuation in today’s date on the back of specific strength in PSU, Energy and Commodity stocks. However, indices retreat from higher levels mainly due to hefty gains of 4% the last two days.

Technically, we feel that the market is opening the window of consolidation between the broader range of 15,350/52,000 and 14,850/50,350 levels. On Friday, our strategy should be to trade long if the Nifty/Sensex drops to 14950-14900 / 50650-50500 levels with a stop loss at 14,800/50,200 levels.

On the higher side, the level of 15,350/52,000 seems achievable but for that we need Nifty/Sensex to remain above 15,200/51,500 levels

Manish Shah, Founder, Niftytriggers.com

Nifty asserted their supremacy in style as a decline from the high of 15,431 completed its decline and the impulsive action resumed. On Wednesday, Nifty made a long candle followed by a rally today. If we blend candles for the last two days we see a long candle that runs parallel to Monday’s debacle. This is a railroad track. Nifty has closed above the high of Monday’s candle and above the 50%t retracement of the 15,430-14,635 decline, this is a trend continuation signal.

Nifty will continue to trade above the recent high at 15,432 and we should see momentum picking up. Expect the initial two weeks of March 2021 to be in favour of bulls possibly aided by a move in Reliance.

The stochastic oscillator has moved up from the oversold zone and it is usually the first oscillator to pick up a turn MACD remains in a sell mode; it is usually the last one to turn. The target for Nifty will 15,500-15,600 over the next couple of days.