Dear
Trader…
Markets recovered strongly in the final hour of the trade to
close at record high levels, continuing its winning streak for straight six
sessions in a row. A Mixed trend was witnessed on the sectoral front. Wherein
Realty, Fin service, and Media rallied the most, while Auto and IT remained
subdued. A rebound in the private banking majors was the key highlight
especially HDFC Bank.
The rebound in the banking majors helped the index to
register a breakout from the consolidation and close above its intermediate
hurdle of 22202 zone. Going ahead, if breakout holds successfully, we expect
upward momentum to continue and index to scale higher towards 22373 levels.
Nifty futures opened at 22140.00 points against the previous
close of 22171.40 and opened at a low of 22076.00 points. Nifty Future closed
with an average movement of 157.90 points and a rise of around 60.55 points and
22231.95 points…!!
On the NSE, the midcap 100 index will decline 0.13% and small
cap 100 index is closing decline 0.53%. Speaking of various sectoral indices, IT,
Auto, Metal, Consumer Durables, Pharma and FMCG 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.62007, fell from a high of Rs.62177
points to a low of Rs.61931 with a rise of 161 points, a trend of around Rs.62165
and March Silver opened at Rs.71257, fell from a high of Rs.71440 points to a
low of Rs.71025 with a rise of 4 points, a trend of around Rs.71310.
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 23871.05 crore against gross selling of Rs 23698.37 crore. Thus, FIIs
stood as net buyers of Rs 172.68 crore in equities.
In the debt
segment, the gross purchase was of Rs 1139.61 crore with gross sales of Rs
948.22 crore. Thus, FIIs stood as net buyers of Rs 191.39 crore in debt. In the
hybrid segment, the gross buying was of Rs 158.07 crore against gross selling
of Rs 106.66 crore. Thus, FIIs stood as net buyers of Rs 51.41 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22272 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 22303 – 22373 levels. Immediate support is placed at 22088 – 22008 levels.
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