Markets are likely to remain volatile ahead of February series monthly expiry on Thursday, as traders will rollover positions in the F&O segment to March series 2020.

The S&P BSE Sensex breached 40,000 marks briefly in the intraday trade on February 26 but bounced back, while the Nifty50 was trading around its 200-day exponential moving average placed around 11,720.





The GRS Solution

Sectorally, selling pressure was seen in telecom, auto, realty, power, and metal indices.





The Indian currency gained in early trade. The rupee opened higher by 13 paise at

71.75 per dollar against the previous close of 71.88.





Top 5 factors that could be weighing on markets:

Weak Asian markets

Asian stocks fell on 26 February, causing losses in US markets overnight.





The sharp selloff pushed yields at the safe-haven treasury to record the ascent. S&P 500 & both Dow Jones industrial averages shed more than 3 percent in their fourth.





Yields on 10-year and 30-year US funds reached record lows and close to gold Concerns about the economic impact of the coronavirus outbreak rose safely - Haven Property, a Reuters report said.





Chinese shares declined by 1.3%. Shares in South Korea, surprised by a sudden increase in virus t he infection briefly hit a two-month low, it said.

US coronavirus warning

The United States has asked Americans to begin preparations to spread coronavirus t here is growth and apprehension within the country, as the outbreak of Iran, South Korea, and Italy t he epidemic said that the epidemic would accelerate global markets.





The World Health Organization says that the epidemic in China is at its peak, but it is a matter of concern i ts spread in other countries is accelerating and investors are likely to maintain the lead.





The report states that the virus originated in China and spread to about 30 countries.





Slowdown in Asian economies Effects of coronavirus, outbreaks are likely to manifest as more than China t he major economies of the region are expected to either slow down or stop.





Many Asian economies, which were limiting growth due to spillover effects so far t he 18-month-long US-China trade the dispute was dealt a blow by the outbreak, which has been closed.

Technical View

The Nifty, which formed a candle of doubt on the daily chart on the previous day opened o n February 27, with a gap around 11,720 to reclaim its critical support.





The major support on the daily chart is 200- DMA placed at 11,684.





The Supertrend indicator indicated sales on the daily chart. Last time it indicated a sell on January 28 and the Nifty tested 11,600 levels Before backing up.





On the Nifty monthly options front, the maximum Put OI is at 11,800 followed by 11,700

Strike while maximum Call OI is at 12,000 followed by 12,200 strikes.





Markets are inaccuracy mode and are likely to serve as significant support for the 11,600 indexes.





"Level 11,600 is the prime area for bulls as mentioned move.





“A recovery of 12,000 is likely to act as a resistance zone. The market is expected to remain o r unstable with the direction. Merchants should increase their pay point of view.

Markets are likely to remain volatile ahead of February series expiry on February 27, as traders

will roll over positions in the futures and options (F&O) to March series 2020.





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