Dear
Trader…
Markets traded volatile on the monthly expiry day but managed
to end marginally higher. The tone was
subdued at the beginning and a mixed trend across heavyweights capped the move
till the end. Meanwhile, a lackluster move on the sectoral front kept the traders
on their toes wherein realty and IT edged lower. Surprisingly, the broader
indices ditched the trend and managed to end in the green.
We are seeing a tussle at 22,008 in Nifty, which coincides
with a short term moving average i.e. 20 DEMA and expect the index to face a
hurdle around the 22,202-22,272 zone, in case of a recovery. At the same time,
excessive volatility and failed breakouts across sectors are further adding to
the traders’ worries. We feel it is prudent to avoid aggressive trades in the
current scenario and utilize rebound to reduce longs.
Nifty futures opened at 21902.00 points against the previous
close of 21921.35 and opened at a low of 21843.00 points. Nifty Future closed
with an average movement of 186.94 points and a rise of around 62.05 points and
21983.40 points…!!
On the NSE, the midcap 100 index will rise 0.51% and small
cap 100 index is closing rise 0.64%. Speaking of various sectoral indices, Media,
Healthcare and IT 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.62270, fell from a high of Rs.62490
points to a low of Rs.62118 with a rise of 215 points, a trend of around Rs.62464
and March Silver opened at Rs.69041, fell from a high of Rs.69438 points to a
low of Rs.68945 with a rise of 306 points, a trend of around Rs.69009.
Meanwhile, The
FIIs as per Thursday’s data were net sellers in equity segment, while they were
net buyers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 11385.40 crore against gross selling of Rs
12774.14 crore. Thus, FIIs stood as net sellers of Rs 1388.74 crore in
equities.
In the debt
segment, the gross purchase was of Rs 2127.42 crore with gross sales of Rs
1283.21 crore. Thus, FIIs stood as net buyers of Rs 844.21 crore in debt. In
the hybrid segment, the gross buying was of Rs 74.69 crore against gross
selling of Rs 63.30 crore. Thus, FIIs stood as net buyers of Rs 11.39 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22202 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 22272 – 22303 levels. Immediate support is placed at 22088 –
22008 levels.
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