The Nifty 50 index has been trading below the 21EMA on the daily chart. On the lower end, support is placed at 23,000 on a sustained basis, while on the higher end, the index may move towards 23,200 or higher,

Although the new deals between India - US comes as a positive factor, the Indian stock market witnessed yet another intense bearish trend on5. Sensex dropped by more than 600 points, while Nifty 50 shed over 216 points.

The Nifty 50 and Sensex ended 1.32% each. This is the sharpest fall since Jan. 21. The NSE Nifty Realty declined the most, followed by Nifty Media and Nifty Auto.

The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 23,195 level, a premium of nearly 87 points from the Nifty futures’ previous close.

The Indian market ended nearly flat on Thursday, as easing domestic inflation was counterbalanced by concerns over U.S. inflation and trade tensions. The Sensex dropped 32 points, while the Nifty fell by 13 points,

US markets settled higher overnight, with Dow Jones gaining 342.87 points or 0.77 per cent to 44,711.43. S&P 500 rose over 1 per cent. Japan and mainland China markets fell, but Hong Kong and Korea markets were up today.

Indian frontline indices fell for the seventh straight session on February 13, with Nifty 50 and Sensex closing in the red due to mid-session selling. Selling pressure has decreased in the last two trading sessions.