The NIFTY50 index is at a crucial level, with strong support at 22,500-22,400. A close below this range could push it down to 22,200, while resistance at 23,100 may limit upward movement. On February 21, NIFTY50 ended lower, breaking its six-day consolidation. The index remains weak, failing to close above the previous session’s high for 13 straight days.
Asian and U.S. markets also saw losses, with the Dow Jones dropping 1.6%. FII outflows continued for the third day at ₹3,449 crore, while DIIs bought ₹2,884 crore worth of shares. Key stocks to watch include JSW Energy, KEI, and Varun Beverages for long build-ups, while Mahindra & Mahindra, Wipro, and Bharat Petroleum saw short build-ups. Traders are closely watching 22,500 for a breakout or further downside.
