Despite conflicting global indications, the Nifty and Sensex continue their upward path. These are the crucial levels to monitor

<p>Despite continuing to fluctuate throughout the course of the week, markets managed to close with a gain of about one percent. Following the initial surge, the momentum was restrained by a combination of global signals coupled with profit-taking in some heavyweights.</p>
<p><img decoding=”async” class=”alignnone size-medium wp-image-445915″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-despite-conflicting-global-indications-the-nifty-and-sensex-continue-their-upward–750×422.jpg” alt=”theindiaprint.com despite conflicting global indications the nifty and sensex continue their upward” width=”750″ height=”422″ title=”Despite conflicting global indications, the Nifty and Sensex continue their upward path. These are the crucial levels to monitor 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-despite-conflicting-global-indications-the-nifty-and-sensex-continue-their-upward–750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-despite-conflicting-global-indications-the-nifty-and-sensex-continue-their-upward–768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-despite-conflicting-global-indications-the-nifty-and-sensex-continue-their-upward–390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-despite-conflicting-global-indications-the-nifty-and-sensex-continue-their-upward–150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-despite-conflicting-global-indications-the-nifty-and-sensex-continue-their-upward-.jpg 1024w” sizes=”(max-width: 750px) 100vw, 750px” /></p>
<p>As a result, the main indexes, the Sensex and the Nifty, ended at 22,212.70 and 73,142.80, respectively, after continuing to fluctuate within a limited range until the very end. Real estate, FMCG, and metal were among the best performing sectors on the sectoral front, with most sectors concluded in the green. The overall indexes, however, finished flat after failing to keep up with the movement.</p>
<p>Because February month futures contracts are slated to expire, we anticipate further high volatility. In addition, investors have to closely monitor how the global indexes are doing, paying particular attention to the US for clues.</p>
<p>The Dow Jones Industrial Average (DJIA), the US benchmark index, has resumed its upward trajectory after a little decline and has already exceeded the 39,000 level. We anticipate that the index will retain its current tone thanks to its solid foundation around about 38,400, which may also aid in keeping the bullish bias in our markets.</p>
<p>During the latest decline, Nifty has obeyed the 20 DEMA, or short-term moving average; nonetheless, the momentum is being controlled by the uneven performance of the index heavyweights. Moving forward, signs point to a consistent upward trend into the 22,500–22,800 zone, and some index majors may provide the necessary push. In the event that a profit is taken, the 21,550–21,900 zone would provide support. A “buy on dips” strategy should be maintained by participants, with an emphasis on stock selection.</p>