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The national stock market indices showed varied performances on February 03, 2025, reflecting the economic sentiment.
In this article, we analyze the performance of key national indices including the Nifty 50,Nifty Bank,Nifty IT,Nifty Auto,Nifty Pharma,Nifty FMCG,Nifty Infra,Nifty Energy and Nifty Metal.
Analysis for Sensex - February 03, 2025
Indices Performance
The Sensex (^BSESN) experienced a decline with a close at 77,186.74, down 313.83 points (-0.40%) from its previous close of 77,500.57. The current RSI stands at 49.01, indicating a neutral momentum, while the MACD shows a negative divergence, suggesting potential bearish trends. The trading volume was notably absent, which could be a sign of cautious market sentiment.
Relationship with Key Moving Averages
The Sensex closing price of 77,186.74 is below its 50-day EMA of 78,116.59 and the 200-day EMA of 77,825.81 but above the 10-day EMA of 76,742.90 and the 20-day EMA of 77,027.83. This indicates a potential short-term recovery within a longer-term downtrend.
Moving Averages Trend (MACD)
The MACD value for Sensex is -511.22, with a MACD Signal of -709.01, indicating a potential bullish crossover as the MACD line is moving towards the signal line. This may suggest a possible upward momentum, though the negative value still reflects bearish sentiment.
RSI Analysis
The RSI (Relative Strength Index) for the Sensex is at 49.01, which indicates a neutral position as it is close to the midpoint of 50. This suggests that the market is neither overbought nor oversold, indicating a balanced market momentum without significant upward or downward pressure.
Analysis for Nifty Auto - February 03, 2025
Indices Performance
The Nifty Auto index has shown a positive performance, with a closing value of 23,327.0, reflecting a 2.01% increase from the previous close of 22,867.6, attributed to a points gain of 459.4. The index's Relative Strength Index (RSI) is at 57.44, indicating a neutral to slightly bullish momentum, while the MACD is negative at -135.68, suggesting some bearish undercurrents might still be present.
Relationship with Key Moving Averages
The closing price of Nifty Auto (^CNXAUTO) at 23,327.0 is above the 50-day EMA (23,150.98) and the 10-day EMA (22,680.95), indicating short-term bullish momentum. It also exceeds the 200-day EMA (23,253.82), suggesting a generally positive longer-term trend.
Moving Averages Trend (MACD)
Based on the provided data, Nifty Auto's MACD value is -135.68, which is above the MACD Signal value of -227.19. This suggests a bullish crossover, indicating a potential upward trend. However, with both values being negative, it is still in a bearish zone but showing signs of recovery.
RSI Analysis
The RSI (Relative Strength Index) for Nifty Auto is 57.44, indicating a neutral to slightly bullish momentum as it is between the typical overbought (above 70) and oversold (below 30) thresholds. This suggests that the index is neither overbought nor oversold and the market may continue to experience relative stability.
Analysis for Nifty Energy - February 03, 2025
Indices Performance
The Nifty Energy index, represented by the stock symbol ^CNXENERGY, experienced a significant decline, closing at 32,177.40, which is approximately a 5.07% decrease from its previous close of 33,895.60. This drop is reflected in the negative points change of -1,718.20. The low RSI value of 37.75 indicates potential oversold conditions, and the MACD further supports a bearish sentiment in the market.
Relationship with Key Moving Averages
The Nifty Energy index closed at 32,177.40, which is below its 10 EMA (33,140.01), 20 EMA (33,696.20), 50 EMA (35,249.53), and 200 EMA (37,658.39). This indicates a bearish trend as the current price is positioned under all the key moving averages.
Moving Averages Trend (MACD)
The MACD analysis for Nifty Energy indicates a bearish trend, as the MACD value of -768.52 is slightly below its signal line at -759.16. This suggests a potential continuation of the current downtrend, which is further supported by the negative price change and an RSI of 37.75, implying that the index might be oversold.
RSI Analysis
The RSI for Nifty Energy is 37.75, indicating that the index is approaching oversold conditions. Generally, an RSI below 30 suggests that a financial asset is oversold, so while it is not yet at this level, it is close and may warrant attention for potential buying opportunities if conditions continue to decline.
Analysis for Nifty FMCG - February 03, 2025
Indices Performance
The Nifty FMCG index (^CNXFMCG) showed a positive performance with a closing value of 57,419.55, marking a 1.28% increase from its previous close of 56,691.95. The index experienced a high of 58,475.10 and a low of 57,110.30, indicating notable intraday volatility. The RSI of 60.83 suggests a moderately strong momentum, while the MACD indicates a recovering trend, moving closer to its signal line.
Relationship with Key Moving Averages
The Nifty FMCG index closed at 57,419.55, which is above its 10 EMA (56,135.02) and 20 EMA (56,150.05), indicating a short-term uptrend, while it remains below the 50 EMA (56,846.88) and 200 EMA (57,783.43), suggesting potential resistance or a mixed longer-term trend. With an RSI of 60.83, it is moving towards overbought territory, but still showing relative strength.
Moving Averages Trend (MACD)
The MACD for Nifty FMCG is -132.95, which is above its signal line of -303.41, indicating a potential upward momentum or bullish divergence. This suggests that the recent price movement could continue on a positive trend. However, as the MACD is still in negative territory, caution should be taken as it might reflect ongoing weakness in the stock's longer-term trend.
RSI Analysis
The Relative Strength Index (RSI) for the Nifty FMCG is at 60.83, which is above the neutral 50 level, indicating a moderately bullish sentiment. This suggests that the index has positive momentum and could continue to perform well unless it approaches the overbought threshold of 70.
Analysis for Nifty Infra - February 03, 2025
Indices Performance
Nifty Infrastructure (^CNXINFRA) Performance Overview: On the given trading day, Nifty Infrastructure opened at 8189.10, faced resistance and saw a decline with a closing price of 8115.65, marking a drop of -2.79% or 232.85 points from the previous close of 8348.50. Currently, the index is trading below its short-term 10 EMA (8227.53) and notably under its 50 EMA (8471.51) and 200 EMA (8546.81), suggesting a weak trend. The RSI stands at 40.36, indicating bearish momentum, while the MACD at -91.18 further supports this negative sentiment.
Relationship with Key Moving Averages
The Nifty Infrastructure index (^CNXINFRA) closed at 8115.65, which is below its 10-day EMA of 8227.53, 20-day EMA of 8290.18, 50-day EMA of 8471.51, and 200-day EMA of 8546.81. This indicates a bearish trend as the closing price is below all key moving averages, suggesting downward momentum.
Moving Averages Trend (MACD)
The MACD value of -91.18, with a MACD Signal of -97.94, indicates a bearish momentum for the Nifty Infra market. The negative MACD suggests that the moving averages are in a bearish alignment, and the MACD line crossing above the signal line is a bullish indication which might not occur until further positive momentum is observed. Additionally, the RSI value of 40.36 suggests weak strength, so traders should exercise caution.
RSI Analysis
The RSI (Relative Strength Index) for Nifty Infra is 40.36, which indicates that it is in the neutral zone but approaching oversold levels. An RSI below 30 typically suggests that the security is oversold, while above 70 indicates overbought conditions. Therefore, Nifty Infra may be nearing a potential buying opportunity if the trend continues.
Analysis for Nifty IT - February 03, 2025
Indices Performance
The Nifty IT index, represented by the stock symbol ^CNXIT, experienced a decline in its closing value on the given day, with a close at 42,314.25, down by 0.82% from the previous close of 42,662.75. The index's RSI is at 45.08, indicating neither overbought nor oversold conditions, while the MACD suggests a bearish momentum with a value of -349.38. Furthermore, the current market price is below key moving averages (50 EMA: 43,112.99; 10 EMA: 42,592.18), suggesting a continuation of the negative trend.
Relationship with Key Moving Averages
The Nifty IT index's closing value of 42,314.25 is below its 10-day EMA of 42,592.18, 20-day EMA of 42,871.86, and 50-day EMA of 43,113.00, indicating a bearish trend in the short to medium term. Additionally, the current RSI of 45.08 suggests the index is nearing oversold territory.
Moving Averages Trend (MACD)
The MACD for Nifty IT is -349.38, which is below the MACD Signal line of -335.30. This indicates a bearish trend as the MACD line is moving further away below the signal line, suggesting potential continued downward momentum in the short term.
RSI Analysis
The RSI (Relative Strength Index) value for Nifty IT is 45.08, which suggests a neutral zone; it is neither indicating overbought nor oversold conditions. Typically, an RSI below 30 suggests an oversold condition, while above 70 indicates overbought conditions.
Analysis for Nifty Metal - February 03, 2025
Indices Performance
Nifty Metal Performance: On the trading day, Nifty Metal opened at 8187.95 and closed at 8155.15, showing a decrease of approximately 244.55 points from the previous close of 8399.70, translating to a -2.91% change. The RSI stands at 38.77, suggesting bearish momentum. Moreover, the MACD value is negative, further indicating downward pressure in the market.
Relationship with Key Moving Averages
The current price of Nifty Metal (^CNXMETAL) at 8155.15 is below all its key moving averages: the 10-day EMA (8321.45), 20-day EMA (8414.31), 50-day EMA (8686.38), and 200-day EMA (8880.38). This indicates a bearish trend, suggesting downward momentum and potential resistance at these levels.
Moving Averages Trend (MACD)
The MACD for Nifty Metal is -136.56, with a signal line at -145.12. The fact that the MACD is currently above the signal line suggests the recent bearish momentum may be losing strength, but the overall negative values indicate a continued bearish trend. Additionally, the RSI of 38.77 implies that the stock is approaching the oversold territory.
RSI Analysis
The RSI for Nifty Metal is 38.77, which indicates that the index is in a bearish phase and might be approaching an oversold condition, as RSI values below 30 typically denote an oversold state. This suggests that there could be limited downside potential and a possible reversal if the RSI continues to fall towards the oversold territory.
Analysis for Nifty Bank - February 03, 2025
Indices Performance
The Nifty Bank index (^NSEBANK) showed a decline today, closing at 49,210.55, down by 376.65 points or approximately -0.76% from its previous close of 49,587.20. Technical indicators reveal a weakening momentum with the MACD at -455.50 and RSI at 46.60, indicating potential bearish sentiment. The 50-day EMA and 200-day EMA are closely aligned, suggesting consolidation in recent weeks.
Relationship with Key Moving Averages
The closing price of Nifty Bank (^NSEBANK) at 49,210.55 is below both the 50-day EMA (50,229.37) and the 200-day EMA (50,215.04), indicating a bearish trend position relative to these key moving averages. Additionally, the price is slightly above the 10-day EMA (49,068.84) but below the 20-day EMA (49,315.37), suggesting short-term underperformance against longer-term averages.
Moving Averages Trend (MACD)
The MACD value for Nifty Bank is -455.50, which is above the MACD Signal line value of -643.41. This suggests a potential bullish crossover, indicating a possible upward momentum. However, given the negative MACD value, the market may still be in a bearish phase, and caution is advised until further confirmation.
RSI Analysis
The RSI for Nifty Bank is 46.60, indicating a neutral position, as it falls between the typical RSI thresholds of 30 (oversold) and 70 (overbought). This value suggests that the market is neither in an overbought nor oversold condition, implying potential indecision among traders.
Analysis for Nifty 50 - February 03, 2025
Indices Performance
The Nifty 50 index, denoted by the stock symbol '^NSEI', closed at 23,361.05, marking a decrease of 147.35 points or approximately -0.63% from its previous close of 23,508.40. The market sentiment appears bearish, with the index trading below its 50-day and 200-day EMA, and the RSI at 48.70 indicating neutral momentum. The MACD suggests a downward trend, as it is below the MACD Signal line.
Relationship with Key Moving Averages
The Nifty 50's current close of 23,361.05 is below its 50-day EMA of 23,667.54 and 200-day EMA of 23,621.44, indicating a potential bearish trend. However, it is slightly above the 10-day EMA of 23,244.98 and the 20-day EMA of 23,328.21, suggesting short-term support. The MACD is negative, further supporting the bearish outlook.
Moving Averages Trend (MACD)
MACD Analysis for Nifty 50 (^NSEI): The MACD value of -150.6599 indicates a bearish momentum, as it is below the MACD Signal line of -209.1465. This suggests a potential continuation of the downward trend, as reflected by the negative percentage change and a Points Change of -147.3496 in the stock index's recent performance.
RSI Analysis
The RSI (Relative Strength Index) for the Nifty 50 is at 48.70, indicating a neutral zone, as it is close to the midpoint of 50. This suggests that the market is neither overbought nor oversold, implying potential stability with no immediate bullish or bearish signals.
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