Market Uptrend Test Today: Trump's Tariff Threat, Anthropic's Impact & IT Plunge
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CNBC Awaaz•24-02-2026, 08:20
Market Uptrend Test Today: Trump's Tariff Threat, Anthropic's Impact & IT Plunge
•Market's uptrend strength to be tested today; Nifty closed above 20 and 50 DEMA, 25,609 is crucial support.
•Global factors, including Donald Trump's tariff threats and Anthropic's impact on IBM (down 13%), caused Dow Jones to fall 800 points, affecting Gift Nifty.
•FIIs made significant purchases yesterday (Rs 3500 crore cash, Rs 7150 crore including futures), indicating a 'Buy on dips' texture for the Indian market.
•IT stocks are facing a major disruption from AI; top Nifty IT stocks like Infosys, Tech Mahindra, HCLTech, TCS, Wipro plunged 13-19% this month.
•Strategy: Maintain 'Buy on dips' for Nifty (support 25,600-25,650) and Bank Nifty (buy on dips, trailing stop loss 60,800); focus on PSU Bank, NBFC, Auto sectors.
