Dalal Street's optimism remains unyielding as the Nifty surges to a new all-time high of 22186.65, sustaining its upward trajectory with a series of higher highs/lows. Despite concerns over higher inflation and a hawkish stance from the Federal Reserve, the benchmark index stands resilient. Market sentiment leans towards the belief that sticky inflation is transitory, driving optimism among investors. Bulls are determined to explore uncharted territories, eyeing new highs as critical support holds firm at 21809 and major resistance looms at the all-time high of 22187. Attention turns to the upcoming FOMC and RBI minutes on February 22 for further market cues. Meanwhile, the MSCI Global Standard Index sees a rejig with the inclusion of five new stocks. Crude oil prices surge amidst geopolitical tensions and supply restrictions. Trade recommendations advocate buying opportunities for Nifty and Bank Nifty, with specific targets and stop levels provided. Also, stocks like GMR INFRA, ADANI PORTS, DIXON TECHNOLOGIES, VOLTAS, and TORRENT PHARMA present bullish outlooks for intraday trading with an inter-week perspective. ADANI ENTERPRISES emerges as a top stock pick with a strong rationale based on its higher high/low pattern.
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