Dear
Trader…
Markets traded volatile amid mixed cues and ended with a
modest cut. After the flat start, Nifty future drifted lower in the first half
however a sharp recovery in the select heavyweights; especially from the banking
pack trimmed the losses. Consequently, Nifty future settled marginally lower to
close at 22,436.95 level. Meanwhile, a mixed trend on the sectoral front
continued, which kept the participants busy wherein auto and energy ended in
the green while IT and FMCG extended decline & lost over a percent each.
We reiterate our bullish view on markets and suggest
continuing with a “buy on dips” approach. However, excessive volatility and
false breakouts across sectors would continue to pose challenges in the
selection of stocks. We thus recommend keeping a check on the position size and
preferring index majors and large midcap names.
Nifty futures opened at 22500.00 points against the previous
close of 22497.95 and opened at a low of 22352.00 points. Nifty Future closed
with an average movement of 165.25 points and a decline of around 61.00 points
and 22436.95 points…!!
On the NSE, the midcap 100 index will decline 0.27% and smallcap
100 index is closing
decline 1.24%. Speaking of various sectoral indices, the NSE saw gains in only PSU
Bank, Auto, Oil and Gas, Pharma, Realty, Bank and Helathcare stocks, while all
other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.64331, fell from a high of Rs.64779
points to a low of Rs.64331 with a rise of 173 points, a trend of around Rs.64635
and March Silver opened at Rs.73358, fell from a high of Rs.73899 points to a
low of Rs.73150 with a rise of 319 points, a trend of around Rs.73786.
Meanwhile, The
FIIs as per Tuesday’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 13898.82 crore against gross selling of Rs
13910.85 crore. Thus, FIIs stood as net sellers of Rs 12.03 crore in equities.
In the debt
segment, the gross purchase was of Rs 1018.99 crore with gross sales of Rs
441.63 crore. Thus, FIIs stood as net buyers of Rs 577.36 crore in debt. In the
hybrid segment, the gross buying was of Rs 43.26 crore against gross selling of
Rs 30.87 crore. Thus, FIIs stood as net buyers of Rs 12.39 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22488 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 22505 – 22570 levels. Immediate support is placed at 22303
– 22232 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
