Dear
Trader…
Markets continued with the range bound bias and ended almost
unchanged. After the gap-up start, Nifty
future oscillated in a narrow band and finally settled at 22,019.30 levels. Meanwhile, a mixed trend on the sectoral
front kept the traders occupied wherein realty and energy pack were among the
top performers while IT and auto took a breather. The broader indices also
managed to do well amid consolidation and gained nearly a percent each.
We maintain our positive stance amid consolidation and
suggest continuing with a “buy on dips” approach until Nifty future holds
21,606. However, participation from the banking and financial majors would be
critical for trend resumption. Apart from the domestic factors, we suggest
keeping a close eye on global markets for cues.
Nifty futures opened at 22090.19 points against the previous
close of 21979.55 and opened at a low of 21901.30 points. Nifty Future closed
with an average movement of 208.55 points and a rise of around 39.75 points and
22019.30 points…!!
On the NSE,
the midcap 100 index will rise 0.75% and small cap 100 index is closing rise 0.71%.
Speaking
of various sectoral indices only IT and Private Bank stocks were seen selling
on the NSE, while all other sectoral indices closed higher.
At the start
of intra-day trading, March gold opened at Rs.62515, fell from a high of Rs.62525
points to a low of Rs.62410 with a decline of 132 points, a trend of around Rs.62442
and March Silver opened at Rs.70381, fell from a high of Rs.70448 points to a
low of Rs.70080 with a decline of 373 points, a trend of around Rs.70221.
Meanwhile, The
FIIs as per Wednesday’s data were net sellers in equity segment, while they
were net buyers in debt segment, according to data released by the NSDL. In
equity segment, the gross buying was of Rs 16366.95 crore against gross selling
of Rs 16839.72 crore. Thus, FIIs stood as net sellers of Rs 472.77 crore in
equities.
In the debt
segment, the gross purchase was of Rs 3728.82 crore with gross sales of Rs
567.28 crore. Thus, FIIs stood as net buyers of Rs 3161.54 crore in debt. In
the hybrid segment, the gross buying was of Rs 957.60 crore against gross
selling of Rs 18.67 crore. Thus, FIIs stood as net buyers of Rs 938.93 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 22188 – 22202 levels. Immediate support is placed at 21808 – 21676 levels.
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