Dalal Street Preview: Nifty Set for Bullish Monday
Opening Bell Alert: The GIFT Nifty is trading with a massive premium of 320 points, indicating that the Nifty 50 will likely open near the 25,900 mark today, February 23.
Why the Market is Rallying
Despite global trade tensions, the Indian market is showing "decoupling" strength. The recent 15% Tariff announcement by the US has been priced in as a positive "certainty" rather than an unknown risk. Domestic Institutional Investors (DIIs) have also shown strong buying support in the pre-market session.
Stocks to Watch Today:
- IT Giants (TCS, Infosys): Watch for recovery after the US policy clarity.
- Reliance Industries: Expected to provide the heavy-weight support for the index.
- Banking (SBI, HDFC): Strong technical setups on the hourly charts suggest a breakout.
Key Levels for Traders
Resistance is placed at 26,100. If the Nifty holds above 25,850 for the first 30 minutes, we could see a "Short Covering" rally that takes the index even higher by the afternoon session.
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