Dear
Trader…
Markets took a breather after four days of advance and ended
marginally lower. After the initial positivity, Nifty future oscillated in a
range and finally settled at 22,025.75 levels.
On the sectoral front, the profit taking in the IT, realty and energy
majors were weighing on the sentiment while metal and FMCG showed resilience.
The broader indices too inched lower and lost nearly half a percent each.
Indications are in favor of further consolidation in the
index and expect Nifty to hold the 21880 – 22202 zone. However, traders should
maintain extra caution in stock selection now citing volatility due to
earnings. Besides, the current positioning of the midcap and smallcap index is
not reflecting the correct picture of deterioration in the broader trend so
plan trades accordingly.
Nifty
futures opened at 22089.90 points against the previous close of 22133.30 and
opened at a low of 21964.69 points. Nifty Future closed with an average
movement of 173.31 points and a decline of around 107.55 points and 22025.75
points…!!
On the NSE,
the midcap 100 index will decline 0.36% and smallcap 100 index is closing decline
0.48%. Speaking of various sectoral indices, the NSE saw gains in only Metal,
Oil and Gas, Media, PSU Bank, Consumer Durables and FMCG stocks, while all
other sectoral indices closed lower.
At the start
of intra-day trading, February gold opened at Rs.62461, fell from a high of Rs.62521
points to a low of Rs.62272 with a decline of 209 points, a trend of around Rs.62350
and March Silver opened at Rs.72346, fell from a high of Rs.72635 points to a
low of Rs.72245.00 with a decline of 281 points, a trend of around Rs.72346.
Meanwhile, The
FIIs as per Tuesday’s data were net buyers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 13055.22 crore against gross selling of Rs 11039.88 crore. Thus, FIIs
stood as net buyers of Rs 2015.34 crore in equities.
In the debt
segment, the gross purchase was of Rs 1530.36 crore with gross sales of Rs
886.83 crore. Thus, FIIs stood as net buyers of Rs 643.53 crore in debt. In the
hybrid segment, the gross buying was of Rs 13.43 crore against gross selling of
Rs 10.22 crore. Thus, FIIs stood as net buyers of Rs 3.21 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22088 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 22118 – 22202 levels. Immediate support is placed at 21880 – 21808 levels.
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