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TRADE SET UP

US markets will reopen on Tuesday following Monday’s Presidents’ Day vacation, while mainland China and Hong Kong markets are closed for the Lunar New Year holidays. The value of the yen changed.

The US markets were shut on Monday, February 16, on account of President’s Day

GIFTNifty lower, trading at a discount of nearly 60 points from Nifty Futures Monday’s close, indicates a start in the red for the Indian market

Reliance Industries, HDFC Bank, Axis Bank and ITC were the top contributors to the Nifty’s gains. Reliance Industries saw a big upmove in the final hours of trade, rising over 2% from its intra-day lows.

Monday, February 16 saw minimal movement in US stock futures as investors positioned for the next week. S&P 500 futures were up about 0.1%, Nasdaq 100 futures were down 0.2%, and Dow futures were up about 76 points, or 0.2%.

Some of the stocks to watch out for the day include JSW Infra, Cochin Shipyard, Lupin and more.

Check Full List Here

Despite starting the day poorly, the Nifty held up well in the absence of follow-through selling. Following two periods of sound correction, the index made a spectacular recovery and ended the day close to its peak.

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