Dear
Trader…
Nifty future continued its previous session’s momentum and
closed with gains of 98 points at 22015 levels near the day’s high. PSU stocks
resumed their ongoing rally after a short pause. OIL & Gas posted solid
gain due to impressive quarterly results, improved GRM and strong growth
expected in India’s oil consumption going forward.
With the end of Q3 result season, the focus is now shifting
to fundamentals and economic macro data. Domestic equities are taking support
from better-than-expected inflation which would keep the trend positive. Nifty
is now close to 22k as well as its all-time high, we expect it to surpass these
levels and touch new highs.
Nifty futures opened at 21970.19 points against the previous
close of 21916.85 and opened at a low of 21846.00 points. Nifty Future closed
with an average movement of 181.94 points and a rise of around 98.65 points and
22015.50 points…!!
On the NSE, the midcap 100 index will rise 1.01% and small
cap 100 index is closing rise 1.32%. Speaking of various sectoral indices, FMCG,
Healthcare, Media 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.61407, fell from a high of Rs.61457
points to a low of Rs.61284 with a rise of 12 points, a trend of around Rs.61455
and March Silver opened at Rs.72300, fell from a high of Rs.70693 points to a
low of Rs.70013 with a rise of 468 points, a trend of around Rs.70620.
Meanwhile, The
FIIs as per Thursday’s data were net sellers in both equity and debt segments,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 12399.02 crore against gross selling of Rs 15027.28 crore. Thus, FIIs
stood as net sellers of Rs 2628.26 crore in equities.
In the debt
segment, the gross purchase was of Rs 951.31 crore with gross sales of Rs
1064.85 crore. Thus, FIIs stood as net sellers of Rs 113.54 crore in debt. In
the hybrid segment, the gross buying was of Rs 5804.15 crore against gross
selling of Rs 13.97 crore. Thus, FIIs stood as net buyers of Rs 5790.18 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 21880 – 21808 levels.
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