Dear
Trader…
Markets extended rebound for the fourth successive session
and gained over half a percent. After
the gap-up start, Nifty edged gradually higher and managed to reclaim the
22,000 mark. The majority of sectors
were aligned to the move wherein auto, realty and pharma were among the top
gainers. The market breadth was also inclined towards the advancing side,
thanks to continued buying in midcap and smallcap space.
We suggest maintaining a positive yet cautious stance as
Nifty is set to retest its record high. Needless to say, we need sustainability
above 22,202 to end the consolidation and march towards the 22,500+ zone else
profit taking may resume. Traders should keep a close watch on the banking
index for cues while others may continue to play a supportive role on a
rotational basis. Besides, the performance of the global indices, especially
the US, will remain on their radar.
Nifty futures opened at 22060.19 points against the previous
close of 22005.05 and opened at a low of 22039.44 points. Nifty Future closed
with an average movement of 100.05 points and a rise of around 84.45 points and
22089.50 points…!!
On the NSE, the midcap 100 index will rise 0.64% and small
cap 100 index is closing rise 0.55%. Speaking of various sectoral indices, Oil
and Gas and PSU Bank stocks were seen selling on the NSE, while all other
sectoral indices closed
higher.
At the start
of intra-day trading, April gold opened at Rs.61651, fell from a high of Rs.61730
points to a low of Rs.61601 with a rise of 91 points, a trend of around Rs.61713
and March Silver opened at Rs.71276, fell from a high of Rs.71397 points to a
low of Rs.71175 with a rise of 218 points, a trend of around Rs.71339.
Meanwhile, The
FIIs as per Friday’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 15021.09 crore against gross selling of Rs 13878.04 crore. Thus, FIIs
stood as net buyers of Rs 1143.05 crore in equities.
In the debt
segment, the gross purchase was of Rs 1553.00 crore with gross sales of Rs
694.82 crore. Thus, FIIs stood as net buyers of Rs 858.18 crore in debt. In the
hybrid segment, the gross buying was of Rs 21.83 crore against gross selling of
Rs 6.89 crore. Thus, FIIs stood as net buyers of Rs 14.94 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22133 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 22202 – 22272 levels. Immediate support is placed at 21880 –
21808 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
