Dear
Trader…
Markets traded volatile in a narrow range and finally ended
with gains of nearly half a percent.
After the flat start, Nifty future oscillated in the band, tracking a
mixed trend in heavyweights and settled at the 21,816.75 level. All key sectors, barring metal, participated
in the rebound wherein recovery in the banking and financial majors played a
critical role in helping the index to end in the green. The broader indices too settled witnessed
respite and settled marginally higher.
The recent price action in the index shows indecisiveness
among the participants thus traders should continue with stock-specific
approach and wait for clarity. Besides, we suggest utilizing further rebound to
reduce longs, especially in the PSUs and other overbought sectors/themes.
Nifty futures opened at 21720.19 points against the previous
close of 21697.85 and opened at a low of 21626.55 points. Nifty Future closed
with an average movement of 217.70 points and a rise of around 118.90 points
and 21816.75 points…!!
On the NSE, the midcap 100 index will rise 0.34% and small
cap 100 index is closing rise 0.17%. Speaking of various sectoral indices, Metal
and Media 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.62173, fell from a high of Rs.62309
points to a low of Rs.62173 with a rise of 182 points, a trend of around Rs.62260
and March Silver opened at Rs.71251, fell from a high of Rs.71570 points to a
low of Rs.70251 with a rise of 352 points, a trend of around Rs.71361.
Meanwhile, The
FIIs as per Tuesday’s data were net buyers in both equity and debt segments ,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 9178.87 crore against gross selling of Rs 8958.50 crore. Thus, FIIs stood
as net buyers of Rs 220.37 crore in equities.
In the debt
segment, the gross purchase was of Rs 906.87 crore with gross sales of Rs
178.04 crore. Thus, FIIs stood as net buyers of Rs 728.83 crore in debt. In the
hybrid segment, the gross buying was of Rs 40.96 crore against gross selling of
Rs 27.17 crore. Thus, FIIs stood as net buyers of Rs 13.79 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 21880 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 21909 – 21979 levels. Immediate support is placed at 21676 –
21606 levels.
The securities quoted are for illustration only
and are not recommendatory.
Investment in securities market are subject to market
risks. Read Disclaimer and related all the documents carefully before
investing, mentioned on www.nikhilbhatt.in
