Dear
Trader…
Markets showed tremendous resilience amid weak global cues
and gained nearly half a percent. On the
benchmark front, Nifty opened gap-down tracking the weak US markets however
strong recovery in the select heavyweights not only pared losses but also
helped the index to close around the day’s high. Mixed trend continued on the
sectoral front wherein energy, metal and auto were among the top
performers. The broader indices also
extended rebound and gained in the range of 1.15%-1.65%.
The tussle shows consolidation amid mixed cues and we feel it
might continue in the near future. In
case of a further rebound, the 22,088-22,108 zone would continue to act as a
hurdle in Nifty. Traders should stay focused on stock selection and refrain
from aggressive bets.
Nifty futures opened at 21675.00 points against the previous
close of 21823.75 and opened at a low of 21600.85 points. Nifty Future closed
with an average movement of 350.15 points and a rise of around 101.25 points
and 21925.00 points…!!
On the NSE, the midcap 100 index will rise 1.04% and small
cap 100 index is closing rise 1.61%. Speaking of various sectoral indices, IT,
Healthcare and Pharma 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.61393, fell from a high of Rs.61455
points to a low of Rs.61241 with a rise of 164 points, a trend of around Rs.61340
and March Silver opened at Rs.69500, fell from a high of Rs.69574 points to a
low of Rs.69128 with a decline of 279 points, a trend of around Rs.69360.
Meanwhile, The
FIIs as per Wednesday’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 13133.76 crore against gross selling of Rs 12900.15 crore. Thus, FIIs
stood as net buyers of Rs 233.61 crore in equities.
In the debt
segment, the gross purchase was of Rs 1965.50 crore with gross sales of Rs
1273.82 crore. Thus, FIIs stood as net buyers of Rs 691.68 crore in debt. In
the hybrid segment, the gross buying was of Rs 49.29 crore against gross
selling of Rs 32.55 crore. Thus, FIIs stood as net buyers of Rs 16.74 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22008 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 22088 – 22108 levels. Immediate support is placed at 21808 –
21676 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
