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Domestic market is expected to remain volatile ahead of derivatives expiry as investors await fresh cues from US President Donald Trump's visit next week, according to analysts. Market participants will also be eyeing GDP estimates and infrastructure data, due to be released on Friday. "In the near-term, the volatility could increase given the expiry of February futures and options (F&O) contracts on Thursday and the expectations of news flow on business deals and/or trade deals during the President Trump visit to India," said Gaurav Dua, Sr VP, Head – Capital Market Strategy & Investments, Sharekhan by BNP Paribas.

Thursday's session on Dalal Street was important from a technical perspective, and domestic equities continued to correct from higher levels to end the day on a negative note. After a flat start, Nifty inched higher and traded with modest gains by afternoon. However, the second half of the session saw the index pare its gains. Nifty came off the high point, slipped into the red and went on to end near the low point of the day.

The market remained lacklustre for the second consecutive week ended February 20 as investors continued to monitor the coronavirus outbreak which has raised fears over global growth. As a result, Moody's cut India's FY20 growth forecast to 5.4 percent (from 6.6 percent earlier), which also hit sentiments. The BSE Sensex declined 0.21 percent to 41,170.12 and the Nifty50 fell 0.27 percent to 12,080.85, underperforming broader markets.

he market remained lacklustre for the second consecutive week that ended on February 20 as investors continued to monitor the coronavirus outbreak which has raised fears over global growth. As a result, Moody's cut India's FY20 growth forecast to 5.4 percent (from 6.6 percent earlier), which also hit sentiments. The BSE Sensex declined 0.21 percent to 41,170.12 and the Nifty50 fell 0.27 percent to 12,080.85, underperforming broader markets. However, the BSE Midcap index gained 0.21 percent and Smallcap rose 0.44 percent during the holiday-shortened week.

Nifty index started the session on a flat note and moved towards 12,150 levels in first half of February 20. However, profit booking was seen in the later half and as a result, index trimmed-off all its intraday gains and formed a red body candle on daily scale. Nifty ended the truncated week with marginal loss of 0.27 percent and formed a small bodied candle with long lower shadow on weekly time frame, which indicates that dips got bought into.

As expected, NSE Nifty saw a technical pullback on Wednesday, as the index snapped a four-session losing streak. The index opened higher and stayed in a steady upward rising trajectory throughout the day. It finally ended with a gain of 133.40 points or 1.11 per cent at 12,125.90. Thursday will be the last trading session of the week on account of a holiday on February 21 for Maha Shivratri.

NSE Nifty on Wednesday snapped a four-day losing streak and formed a bullish candle on the daily chart. The followup buying witnessed after Tuesday’s Hammer candle is seen as a positive sign. The index negated lower high and lower low formations of the past three sessions and closed above its 20-day moving average. The immediate hurdle is in the 12,170-12,180 zone.

NSE Nifty snapped its losing streak of the last four sessions on Wednesday on across-the-board buying. The market breadth also turned strongly in favour of the bulls. Due to decent buying interest from lower levels, the index formed a bullish candle on the daily chart. A bullish momentum after a ‘Hammer’ candle on Tuesday is a positive sign. We also observed the formation of a Bullish Island Reversal pattern on the daily scale, which bodes well for the bulls.

Positive global sentiment extended to the Indian market, making the equity barometer Sensex snap the losing streak of the last four consecutive sessions on February 19. Sensex closed 429 points, or 1.05 percent, up at 41,323, while Nifty ended 133 points, or 1.11 percent, higher at 12,125.90. The rally was broad-based as midcaps and small-caps also jumped, outperforming the benchmark Sensex. BSE Midcap and Smallcap indices rose 1.34 percent and 1.41 percent, respectively.

While Budget 2020 fell short on overall general expectations and could have done more to revive consumptions or investments, we still believe that it gave enough firepower to achieve a 6 percent growth in FY21, Lav Chaturvedi, ED & CEO, Reliance Securities, said in an interview with Moneycontrol’s Kshitij Anand. edited excerpts:

The domestic stock market fell for a fourth straight session on Tuesday despite staging a smart recovery in the later half of the day. NSE Nifty opened on a negative note and slipped below the crucial 100-DMA level at 11,942 in intraday trade. The index rebounded over 85 points from the day’s low to finally settle with a loss of 53.30 points or 0.44 per cent at 11,992.50. The headline index now trades well below its lower top that it marked near the 12,250 level. It has also violated 50-DMA and short-term 20-DMA, which stand at 12,135 and 12,053, respectively. Nifty, however, bounced off from the pattern support of the broadening formation, and has held on the 100-DMA support, which is at 11,942.

Nifty50 on Tuesday fell below the psychological mark of 12,000 level despite some late recovery. The index formed a ‘Hammer’ candle on the daily chart, suggesting buying at lower levels. Analysts said a fall below 12,000 is a negative despite efforts by the bulls to defend the level. Immediate resistance is seen at 12,030, while any further fall may send the index towards 11,900, they added. Adopt a ‘sell on rise' strategy, they added.

NSE Nifty started the session on a negative note and corrected sharply from initial trades on Tuesday. The index slumped for a fourth session and fell towards the 11,900 level during the day. However, it staged a smart recovery from the lower levels and finally settled just below the 12,000 mark to form a ‘Hammer’ candle on the daily chart. If the headline index sustains above 12,031, then it may see a bounce towards 12,150–12,200 zone. On the flip side, immediate support is placed at 11,900 and then 11,830.

Benchmark indices closed in the red for the fourth consecutive session on February 18 as investors continued to feel the jitters from the impact of the coronavirus outbreak. The Sensex fell 161.31 points to close at 40,894.38 while Nifty fell 53.30 points to end at 11,992.50. "The short term trend of Nifty continues to be weak. Tuesday's smart upside recovery from the lows could be a cheering factor for bulls to make a comeback. But, the underlying trend remains weak and any further upside bounce could be short lived," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.

The Nifty recouped substantial losses in the last hours of trade to close off the day's low on February 18, as concerns mounted for global economy after Apple issued revenue warning and HSBC earnings missed expectations in a widening impact of coronavirus. The index fell for the fourth consecutive session and closed below the psychological 12,000-mark, forming a bearish candle that resembled a hammer pattern on daily charts.