MARKETS LIVE: Key things to watch ahead of the opening bell

FPIs pull out $10.6 billion from emerging markets in February so far Foreign portfolio investors (FPIs) have sold shares of emerging markets (EMs) worth $10.6 billion in February so far, leading to a steep fall in the benchmark indices across these markets. The MSCI EM index has corrected 4.4 per cent this month. This sell-off was triggered by concerns about US equities and rising bond yields in the world's largest economy. READ MORE Bullish on Tata Motors, bearish on Tata Steel: Angel Broking Tata Motors - Bullish Last Close – Rs. 360.20   This has been one of the underperformers over the past 18 months and is now trading around its 52-week low. However, if we look at the weekly chart we can see a strong support zone of multi-year lows along with the ’89-EMA’ on monthly chart. Considering the extreme oversold condition of momentum oscillators in all time frames, we expect a decent bounce back rally in this stock. Hence, we would like to advise a contradictory buy for a target of Rs.378 over the next few days. The stop loss now can be fixed at Rs. 350. READ MORE Sebi, bourses probe possible foul play in PSB's equity, derivatives trade Markets regulator Sebi and stock exchanges are looking into possible manipulation in equity and derivatives trade of some public sector banks (PSBs) in the wake of circulation of a fake letter purportedly for misleading the investors. READ MORE Street signs: Outlook for Bank Nifty, Jubilant Life shares, and more Despite shedding more than nine per cent in the January series, the outlook for Bank Nifty remains bleak. Downside support for the index has moved to 24,750 with the upside capped at 25,500. There has been a significant build-up of long positions in private sector banks, which are expected to do well, even as public sector banks' woes would continue. With the exception of State Bank of India which has seen some stability, other counters have seen a build-up of short positions, said analysts. In the past five trading sessions, shares of Punjab National Bank, Indian Bank and Union Bank of India have shed 7.5%, 6.7% and 4.1%, respectively. CLICK HERE TO READ MORE Markets on Friday   S&P BSE Sensex 34,142.15 0.95%   Nifty 50 10,491.05 1.04%   S&P BSE 200 4,585.61 1.17%   Nifty 500 9,251.35 1.23%   S&P BSE Mid-Cap 16,562.03 1.47%   S&P BSE Small-Cap 17,996.22 1.54% Top trading ideas for the day BUY ASHOK LEYLAND CMP: Rs 134.40 TARGET: Rs 146 STOPLOSS: Rs 128 The stock has made a higher bottom formation pattern in the daily chart taking support at around Rs 130 levels and is poised for an upward move with positive bias.   The RSI has indicated a trend reversal to signal a buy and we anticipate a further rise from here on with strength and potential to give a breakout above the previous peak of Rs 139.50 levels. With consistent volume participation, we recommend a buy in this stock for an upside target of Rs 146 keeping a stop loss of Rs 128. CLICK HERE TO READ MORE