Dear
Trader…
Markets traded volatile for yet another session and ended
almost unchanged, in continuation to the prevailing trend. After the flat start, the Nifty future
oscillated sharply on both sides and finally settled at the 22,437.00 level.
Meanwhile, most sectors ended lower wherein realty, metal and pharma were among
the top losers.
The recent volatility in the index combined with sustained
weakness in the broader indices may continue to pose challenges, especially to
the traders. And, they have no option but to align positions accordingly and
avoid aggressive trades until we see clarity over the next directional move.
Nifty futures opened at 22447.90 points against the previous
close of 22421.35 and opened at a low of 22378.00 points. Nifty Future closed
with an average movement of 159.90 points and a rise of around 15.65 points and
22437.00 points…!!
On the NSE, the midcap 100 index will decline 1.41% and small
cap 100 index is closing decline 1.98%. Speaking of various sectoral indices,
the NSE saw gains in only IT, Financial Services and Private Bank stocks, while
all other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.65932, fell from a high of Rs.66034
points to a low of Rs.65826 with a decline of 197 points, a trend of around Rs.65838
and March Silver opened at Rs.74459, fell from a high of Rs.74622 points to a
low of Rs.74395 with a decline of 71 points, a trend of around Rs.74443.
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 23302.51 crore against gross selling of Rs 19357.00 crore. Thus, FIIs
stood as net buyers of Rs 3945.51 crore in equities.
In the debt
segment, the gross purchase was of Rs 2009.87 crore with gross sales of Rs 1671.99
crore. Thus, FIIs stood as net buyers of Rs 337.88 crore in debt. In the hybrid
segment, the gross buying was of Rs 62.15 crore against gross selling of Rs
32.01 crore. Thus, FIIs stood as net buyers of Rs 30.14 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22474 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 22570 – 22606 levels. Immediate support is placed at 22303 –
22170 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
