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Indian Indices: Asian markets opened mixed with the Japanese 'Nikkei' seeing marginal losses as export data released today disappointed coming below most estimates. However the huge Kraft Heinz bid for Unilever globally would be the talking point this week as M&A activity picks up. This also should see higher valuations for most FMCG stocks as value buying props up stock prices. 

Nifty saw a huge move till almost 8900 led by banks with Bank nifty scaling new all time highs in morning trade on Friday. However domestic profit booking trimmed the gains with Nifty closing @ 8821.The left out feeling seems evident for most foreign investors & any fall is being used as an opportunity to buy with huge scramble to buy HDFC bank shares on Friday seeing the stock hit fresh all time highs. For this holiday shortened week expect volatility to rise as we head for derivative contracts expirythis Thursday.

The BSE Sensex is currently trading at 28499.07, up by 30.32 points or 0.11% after trading in a range of 28419.27 and 28521.16. There were 18 stocks advancing against 12 stocks declining on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.57%, while Small cap index was up by 0.71%.

Technical view: Nifty finds strong support around 8770 which was an earlier resistance while 8900 acts as strong resistance. Bank Nifty now finds support around 20500 while 20900 will act as resistance.

Trading ideas :PETRONET (Buy above Rs 401, for target of Rs 418, SL at Rs 390): Stock has broken out from a short term consolidation pattern which took 12 weeks to complete. The immediate resistance of Rs 396.5 was breached convincingly accompanied with impressive volumes. Momentum oscillators have also witnessed positive crossover which further adds confirmation to our positive stance.

Derivative Snippets: Markets surge higher as the index call option writers run for a cover, massive short covering was witnessed in Nifty 8800 to 9000 call options and Banknifty 20200 to 20700 call options.

 FIIs were net buyers in cash market segment to the tune of Rs. 8043 crores.

FII’s index future long/short ratio at 2.9x vs 3.1x. Heavy call option buying (short covering) to the tune of 15k contracts was observed.

Nifty Movers: The top gainers on Nifty were Idea Cellular up by 2.97%, BhartiAirtel up by 2.27%, GAIL India up by 1.81%, Tata Power up by 1.66% and TCS up by 1.51%.

On the flip side, Hindalco down by 1.50%, Tech Mahindra down by 1.06%, HDFC down by 0.99%, Bosch down by 0.99% and Yes Bank down by 0.87% were the top losers.

Top Sectoral& Stock Screening:  The top gaining sectoral indices on the BSE were Telecom up by 1.91%, Consumer Durables up by 1.13%, Basic Materials up by 0.88%, Realty up by 0.78% and Utilities up by 0.72%, while FMCG down by 0.04% was the sole loser on BSE.

The top gainers on the Sensex were BhartiAirtel up by 2.30%, GAIL India up by 1.80%, Tata Steel up by 1.42%, TCS up by 1.41% and Bajaj Auto up by 1.14%.

On the global front: On the global front, Asian shares were trading mostly in green, with Tokyo shares erasing morning losses and Hong Kong equities resuming a rally. Japan’s exports rose in January at a slower pace than the previous month due to a decline in shipments to the US and the Lunar New Year holidays and as concerns about growing trade protectionism cast doubts over the outlook.

Global Signals:The Asian markets were trading mostly in green; KOSPI Index increased 0.53 points or 0.03% to 2,081.11, FTSE Bursa Malaysia KLCI increased 4.09 points or 0.24% to 1,711.77, Jakarta Composite increased 15.89 points or 0.3% to 5,366.82, Nikkei 225 increased 16.76 points or 0.09% to 19,251.38, Shanghai Composite increased 27.08 points or 0.85% to 3,229.15 and Hang Seng increased 81.32 points or 0.34% to 24,115.06.On the other hand, Taiwan Weighted decreased 25.33 points or 0.26% to 9,754.59.