Dear
Trader…
Domestic equities made a high of 22269 zones on the back of
strong global cues. Nifty future future made a U-turn from the day’s low to
close near high levels with gains of 199 points (0.9%) at 22269 levels.
Broad-based rally was seen with IT, Metals, and Auto taking the lead along with
the Midcap sector. Strong Q4 results and a positive outlook from chipmaker
Nvidia led to a revival in global sentiments.
Further, HSBC Flash India PMI data released today for the
month of February pointed towards India’s economic activity – both
manufacturing and services being at a 7-month high which helped Indian markets
to make a sharp recovery. We expect this ongoing momentum to continue with
markets attaining new high. Key events to watch out for are RBI meeting minutes
and US existing home sales for January which would be released later today.
Nifty futures opened at 22119.80 points against the previous
close of 22070.15 and opened at a low of 21943.00 points. Nifty Future closed
with an average movement of 326.65 points and a rise of around 199.65 points
and 22269.80 points…!!
On the NSE, the midcap 100 index will rise 1.02% and small
cap 100 index is closing rise 0.68%. Speaking of various sectoral indices, Bank,
Financial Services and Private 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.62155, fell from a high of Rs.62308
points to a low of Rs.62103 with a rise of 32 points, a trend of around Rs.62140
and March Silver opened at Rs.70724, fell from a high of Rs.71200 points to a
low of Rs.70647 with a rise of 411 points, a trend of around Rs.71020.
Meanwhile, The
FIIs as per Thursday’s data were net buyers in equity segment, while they were
net sellers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 17007.34 crore against gross selling of Rs
16613.63 crore. Thus, FIIs stood as net buyers of Rs 393.71 crore in equities.
In the debt
segment, the gross purchase was of Rs 1110.84 crore with gross sales of Rs
1607.61 crore. Thus, FIIs stood as net sellers of Rs 496.77 crore in debt. In
the hybrid segment, the gross buying was of Rs 22.39 crore against gross
selling of Rs 17.66 crore. Thus, FIIs stood as net buyers of Rs 4.73 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22303 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 22373 – 22404 levels. Immediate support is placed at 22088 –
22008 levels.
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