A morning walk down Dalal Street | Critical support for Nifty at 10790, upside capped around 10950

It was a volatile day of trade for D-Street. The Nifty bounced back after taking support at its 100-days moving average to close roughly at the same level where it opened.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 86 points to close at 36,195 while the Nifty50 ended 18 points higher and closed just a shade below 10,950. 

The star of the day was Yes Bank which rose a little over 9% after the board declared Ravneet Gill as MD & CEO effective March 1, 2019.

It looks like upside for Indian market remain capped as we head towards Interim Budget. Earnings have not been bad but they have also failed to provide a breakout and there's no clarity on the global front in terms of trade war.