News for Orient Refractories Limited (ORIENTREF.NS)

Indian markets closed sharply lower Thursday, with Sensex falling 823 points and Nifty over 253 points. Selling was broad-based, driven by global tensions, oil prices, F&O expiry fears, and underperformance in IT, metals, and auto sectors.

In the Nifty 50 index, 35 stocks ended in the green, while 15 stocks closed in the red in today's trade.

Indian shares declined on Friday, as profit booking emerged after the Nifty 50 scaled a record high, trimming weekly gains for the blue-chip indices

Nifty on Tuesday ended flat to form an indecisive Doji candle on the daily charts. The immediate resistance for Nifty is at 22,500, and a break above this on a closing basis would signal a resumption of the upward movement.

Nifty on Monday fell 161 points to form a bearish Engulfing pattern on the daily charts to hint at short-term top reversal for the market. The short-term trend of Nifty seems to have turned down and the next lower levels to be watched are around 22,100-22,050 levels.

"22,250-22,200 is likely to be seen as intermediate support, followed by the strong support of 22,150 and finally, the psychological mark of 22,000 from a broader term view. On the higher end, finding resilience is challenging in uncharted territory, though 22,600-22,650 could be seen as the following potent targets for Nifty in the upcoming week," said Osho Krishan, Angel One.

Nifty on Wednesday ended 118 points higher to form a long bull candle with a long lower shadow on the daily charts. The headline index ended at a record closing high which was above the 21EMA on the daily scale.

Nifty ended 27 points higher above the 22,400 level to form an indecisive Doji candle on the daily charts.Any dips from here could be a buying opportunity towards the support of 22,225-22200 levels. The near-term upside targets to be watched around 22,600-22,800 levels.

The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.

Ahead of the February series expiry, Nifty on Wednesday ended 247 points lower below the 22,000 level and around its 20-DEMA. Observing the daily chart, the index has been navigating within a rising channel.

Indian equities closed negative. Nifty 50 at 22122.05 (-0.4%) and S&P BSE Sensex at 72790.13 (-0.5%). IT, metals, and pharmaceutical stocks faced selling pressure. US stocks edged higher; European equities edged lower. MACD showed bullish trade and bearish signs.

The Nifty Pharma index closed 0.48 per cent down at 18956.45.

Asian Paints, Apollo Hospital, Hindalco, Divis Labs and Tata Steel were among the top losers on NSE in today's trade.

Moksh Ornaments Ltd., AVG Logistics, Zaggle Prepaid Ocean, Salzer Electro and SML Isuzu, hit their fresh 52-week highs during the day.

The Nifty Bank index was trading 0.36 per cent down at 46644.75.

Moksh Ornaments Ltd., AVG Logistics, Pilani Invest, Associated Alch and Zaggle Prepaid Ocean, hit their fresh 52-week highs at 11:10AM.

Rupak De, LKP Securities said,

In the Nifty 50 index, 24 stocks ended in the green, while 25 stocks closed in the red in today's trade.

In the Nifty 50 index, 6 stocks ended in the green, while 44 stocks closed in the red in today's trade.