Dear
Trader…
Markets surged strongly and gained nearly a percent, tracking
favorable global cues. After the gap-up start, Nifty future oscillated in a
narrow range till the end and finally settled at 22,118.90 level. All the key
sectors participated in the move wherein realty and metal were among the top
gainers. The broader indices also made a strong comeback and gained ~2.5% each.
The buoyancy in the US markets is not only helping the index
to cap the damage and also triggering a rebound in between. On the benchmark
front, Nifty tested the immediate hurdle of short term moving average i.e. 20
EMA today but it couldn’t surpass it. We may see some consolidation now and
need sustainability above 22,202 to mark any meaningful recovery. Meanwhile,
Participants should stay stock-specific until we see clarity over the next
directional move and stick with the index majors and large midcaps.
Nifty futures opened at 22070.00 points against the previous
close of 21910.05 and opened at a low of 22020.00 points. Nifty Future closed
with an average movement of 129.00 points and a rise of around 208.85 points
and 22118.90 points…!!
On the NSE, the midcap 100 index will rise 2.43% and small
cap 100 index is closing rise 2.51%. Speaking of various sectoral indices, Realty,
Metal, PSU Bank, Media, Consumer Durables, Auto and Oil and Gas stocks saw
heavy gains on the NSE, while all other sectoral indices also closed higher.
At the start
of intra-day trading, April gold opened at Rs.66100, fell from a high of Rs.66943
points to a low of Rs.66100 with a rise of 1091 points, a trend of around Rs.66841
and May Silver opened at Rs.75915, fell from a high of Rs.78323 points to a low
of Rs.75775 with a rise of 893 points, a trend of around Rs.76206.
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 11257.59 crore against gross selling of Rs
13500.35 crore. Thus, FIIs stood as net sellers of Rs 2242.76 crore in
equities.
In the debt
segment, the gross purchase was of Rs 4386.02 crore with gross sales of Rs
2226.69 crore. Thus, FIIs stood as net buyers of Rs 2159.33 crore in debt. In
the hybrid segment, the gross buying was of Rs 0.42 crore against gross selling
of Rs 9.13 crore. Thus, FIIs stood as net buyers of Rs 1.29 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 22008 –
21909 levels.
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