A Red Valentine for Markets: Nifty Slips for 8th Straight Session

https://preview.redd.it/dqnj2psgr3je1.png?width=1280&format=png&auto=webp&s=021c8bc0e9084ce38091abbd1a8e6690c29c1120 https://preview.redd.it/rt9aknsgr3je1.png?width=1280&format=png&auto=webp&s=d47fe891f3771c4edebf28970235b32e1e55b222 Indian markets declined for the eighth straight session on Feb 14, with the Sensex dropping 199 points to 75,939 and Nifty falling 102 points to 22,929. While Nifty rebounded slightly after touching its January 27th low, its chart remains weak, trading below key moving averages. The 40-hour exponential moving average (HEMA) at 23,135 serves as strong resistance, keeping bears in control unless a breakout occurs. On the downside, the 22,775–22,620 zone is a crucial support level. Persistent FII selling, weak Q3 earnings, and U.S. trade war fears continue to weigh on sentiment, while wholesale inflation eased to 2.31% in January.