Dear
Trader…
Markets traded volatile but managed to end higher, tracking
favorable global cues. After the initial downtick, Nifty inched gradually
higher for most of the
session however profit taking in the final hour trimmed the gains. Eventually,
it settled at 22155.00; up by 0.24%. Meanwhile, a majority of sectors ended
higher wherein realty, auto and pharma were among the top performers. The
broader indices also extended rebound and gained over half a percent each.
Participants are taking comfort from the favorable global
cues however Nifty is still facing a hurdle around the short term moving
average i.e. 20 DEMA. We reiterate our view to focus on stock selection and
trade management until we get some clarity over the next directional move.
Nifty futures opened at 22060.00 points against the previous
close of 22102.50 and opened at a low of 21953.85 points. Nifty Future closed
with an average movement of 304.15 points and a rise of around 52.50 points and
22155.00 points…!!
On the NSE, the midcap 100 index will rise 0.59% and small
cap 100 index is closing rise 0.64%. Speaking of various sectoral indices only
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.66057, fell from a high of Rs.66199
points to a low of Rs.65813 with a decline of 7 points, a trend of around Rs.66182
and May Silver opened at Rs.74775, fell from a high of Rs.75075 points to a low
of Rs.74298 with a decline of 82 points, a trend of around Rs.74999.
Meanwhile, The
FIIs as per Friday’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 14475.77 crore against gross selling of Rs
15802.73 crore. Thus, FIIs stood as net sellers of Rs 1326.96 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1919.77 crore with gross sales of Rs
978.46 crore. Thus, FIIs stood as net buyers of Rs 941.31 crore in debt. In the
hybrid segment, the gross buying was of Rs 36.40 crore against gross selling of
Rs 31.15 crore. Thus, FIIs stood as net buyers of Rs 5.25 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 22303 – 22373 levels. Immediate support is placed at 22108 –
22008 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
