Dear
Trader…
Markets surged strongly on Friday and reclaimed the record
high. After the initial uptick, Nifty future moved from strength to strength as
the day progressed and finally settled around the day’s high to close at
22,451.25; up by 1.31%. The majority of sectors contributed to the move wherein
metal, banking and auto posted strong gains. However, the broader indices
underperformed the benchmark but managed to end with modest gains.
We expect ongoing momentum to continue while taking cues from
a fresh set of economic data next week. For next week sectors to be in focus
Auto on the back of better-than-expected monthly sales numbers. Cement and
Metals are also expected to be in focus on the back of stronger economic
growth, while defence and solar sector on account of improved order visibility.
Nifty futures opened at 22203.00 points against the previous
close of 22160.50 and opened at a low of 22180.19 points. Nifty Future closed
with an average movement of 273.25 points and a rise of around 290.75 points
and 22451.25 points…!!
On the NSE, the midcap 100 index will rise 0.94% and small
cap 100 index is closing rise 0.52%. Speaking of various sectoral indices, Media,
Healthcare, Pharma 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.62567, fell from a high of Rs.62835
points to a low of Rs.62403 with a rise of 218 points, a trend of around Rs.62785
and March Silver opened at Rs.69880, fell from a high of Rs.69921 points to a
low of Rs.69425 with a rise of 184 points, a trend of around Rs.69849.
Meanwhile, The
FIIs as per Friday’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 57371.12 crore against gross selling of Rs
53169.81 crore. Thus, FIIs stood as net buyers of Rs 4201.31 crore in equities.
In the debt
segment, the gross purchase was of Rs 1267.21 crore with gross sales of Rs
1400.96 crore. Thus, FIIs stood as net sellers of Rs 133.75 crore in debt. In
the hybrid segment, the gross buying was of Rs 101.26 crore against gross
selling of Rs 63.60 crore. Thus, FIIs stood as net buyers of Rs 37.66 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22505 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 22606 – 22676 levels. Immediate support is placed at 22373 –
22303 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
/ trading, mentioned on www.nikhilbhatt.in
