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Before the monthly expiration, will the Nifty reach a new high or will it consolidate? Before the market opens, see the GIFT Nifty, FII statistics, F&O ban, crude, and more

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<p>The Indian market indexes BSE Sensex and NSE Nifty 50 might open higher on Monday, according to GIFT Nifty. Before the market begins, make sure you know this information.<img decoding=”async” class=”alignnone wp-image-445942″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-before-the-monthly-expiration-will-the-nifty-reach-a-new-high-or-will-it-consolida-1-750×422.jpg” alt=”theindiaprint.com before the monthly expiration will the nifty reach a new high or will it consolida 1″ width=”1074″ height=”604″ title=”Before the monthly expiration, will the Nifty reach a new high or will it consolidate? Before the market opens, see the GIFT Nifty, FII statistics, F&O ban, crude, and more 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-before-the-monthly-expiration-will-the-nifty-reach-a-new-high-or-will-it-consolida-1-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-before-the-monthly-expiration-will-the-nifty-reach-a-new-high-or-will-it-consolida-1-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-before-the-monthly-expiration-will-the-nifty-reach-a-new-high-or-will-it-consolida-1-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-before-the-monthly-expiration-will-the-nifty-reach-a-new-high-or-will-it-consolida-1-150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-before-the-monthly-expiration-will-the-nifty-reach-a-new-high-or-will-it-consolida-1.jpg 1024w” sizes=”(max-width: 1074px) 100vw, 1074px” /></p>
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<p>The GIFT Nifty opened higher on Monday, gaining 41 points, or 0.18%, to trade at 22,290, signaling a strong start for the local indexes NSE Nifty 50 and BSE Sensex. Earlier on Friday, the BSE Sensex fell by only 15.44 points, or 0.02%, to 73,142.80, while the NSE Nifty 50 finished down by just 4.75 points, or 0.02%, to conclude at 22,212.70.</p>
<p>On Friday, the markets took a break and concluded almost unchanged despite conflicting signals. Nifty had a flat start, but it eventually stabilized around 22,212.70 levels after remaining in a tight range all day. A mixed movement on the sectoral front, however, kept traders busy; real estate and pharmaceuticals finished down, while IT and metals closed lower. The overall indexes too had a lackluster trading and concluded somewhat higher, according to Ajit Mishra, SVP of Technical Research at Religare Broking Ltd.</p>
<p>Important information before the February 26, 2024, opening of the share market<br />
Wall<br />
The biggest technology businesses in the world had their shares decline on Friday, according to Bloomberg, after a strong run fueled by confidence about artificial intelligence. The tech-heavy Nasdaq Composite closed at 16,003.97, down 37.65 points, or 0.23%. The Dow Jones Industrial Average closed up by 120.72 points, or 0.31%, at 39,189.83, while the S&P 500 gained only 6.80 points, or 0.23%, at 5,093.83.</p>
<p>US Dollar<br />
A rise of 0.03% was recorded at 103.97 for the US Dollar Index (DXY), which compares the value of the dollar to a basket of six international currencies.</p>
<p>Basic Petroleum<br />
On Monday morning, the price of WTI oil is down 0.22% at $76.32, while the price of Brent crude is down 0.17% at $81.48.</p>
<p>Asian Markets: On Monday morning, shares in the Asia-Pacific area are trading in a range of directions. The Asia Dow is up by 0.25%, the Nikkei 225 in Japan is up by 0.39%, the Hang Seng index in Hong Kong is down by 0.10%, and the Shanghai Composite, the benchmark Chinese market, is up by 0.55%.</p>
<p>FII and DII Information<br />
According to preliminary data available on the NSE, on February 23, 2023, domestic institutional investors (DII) purchased shares worth net Rs 176.7 crore, while foreign institutional investors (FII) scooped shares worth net Rs 1,276.1 crore.</p>
<p>Technical Perspective<br />
Observing the Nifty Technical Outlook According to Rupak De, Senior Technical Analyst at LKP Securities, profit booking caused Nifty to close at the day’s low after the market was unable to maintain its morning gains. Short-term optimism persisted, however, as the index closed above the critical 22,200 barrier mark, with 22,400 serving as the next resistance level. The location of the short-term support is 21,900. The Nifty may still be seen as a buy on dips as long as it remains over 21,900.</p>
<p>Bank Nifty Prospects<br />
“The Bank Nifty index kept up its strong pace, surpassing the 46,500 mark, which is widely seen as a strong support. A pullback into this support zone is a great chance to start long trades with an upside objective of 48,000. The index’s immediate barrier is located around 47,100, and a strong break above it would indicate that the uptrend is resumed in the direction of the previously specified objectives of 48,000, according to Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.</p>


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