Dear
Trader…
Markets traded volatile and ended almost unchanged, taking a
breather after Tuesday’s decline. After the initial uptick, it resumed decline
in no time however recovery in select heavyweights pared losses as the session
progressed. On the sectoral front, a mixed trend continued wherein energy, FMCG
and realty edged higher while metal and financials ended in the red.
We may see a breather after the recent fall but the tone is
likely to remain negative. Participants should continue with the “sell on rise”
approach until Nifty decisively reclaims 22,088 level. Also, we reiterate our
preference for index majors over others and avoid adding to the loss making
positions.
Nifty futures opened at 21900.00 points against the previous
close of 21886.50 and opened at a low of 21798.05 points. Nifty Future closed
with an average movement of 190.75 points and a rise of around 32.50 points and
21919.00 points…!!
On the NSE, the midcap 100 index will decline 0.01% and small
cap 100 index is closing rise 0.05%. Speaking of various sectoral indices, the
NSE saw gains in Oil and Gas, Realty, FMCG, Auto, Healthcare and PSU Bank
stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.65599, fell from a high of Rs.65699
points to a low of Rs.65551 with a rise of 9 points, a trend of around Rs.65592
and May Silver opened at Rs.75326, fell from a high of Rs.75367 points to a low
of Rs.75000 with a decline of 137 points, a trend of around Rs.75150.
Meanwhile, The
FIIs as per Wednesday’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 17223.87 crore against gross selling of Rs
15872.80 crore. Thus, FIIs stood as net buyers of Rs 1351.07 crore in equities.
In the debt
segment, the gross purchase was of Rs 1231.91 crore with gross sales of Rs
1666.67 crore. Thus, FIIs stood as net sellers of Rs 434.76 crore in debt. In
the hybrid segment, the gross buying was of Rs 25.18 crore against gross selling
of Rs 25.10 crore. Thus, FIIs stood as net buyers of Rs 0.08 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 21979 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 22008 – 22088 levels. Immediate support is placed at 21676 –
21606 levels.
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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
