Dear
Trader…
Market traded lackluster and lost nearly half a percent, in
continuation to the prevailing consolidation phase. After the flat start, Nifty
future oscillated in a narrow range till the end and eventually closed at
22,095 level. Meanwhile, a mixed trend on the sectoral front kept the traders
occupied wherein realty and oil&gas edged higher while IT and banking ended
in the red.
Indications are in favor of a consolidation tone to continue
until we see a decisive break from the prevailing range i.e. 21,808-22,272
level. Meanwhile, traders should limit their exposure and prefer hedged trades,
with a focus on index majors and large midcaps.
Nifty futures opened at 22026.25 points against the previous
close of 22165.45 and opened at a low of 21850.00 points. Nifty Future closed
with an average movement of 300.00 points and a decline of around 70.45 points
and 22095.00 points…!!
On the NSE, the midcap 100 index will rise 1.05% and smallcap
100 index is closing
rise 0.41%. Speaking of various sectoral indices, the NSE saw gains in Realty, Oil
& Gas, Consumer Durables, Healthcare, Metal and PSU Bank stocks, while all
other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.65949, fell from a high of Rs.66439
points to a low of Rs.65880 with a rise of 278 points, a trend of around Rs.66300
and May Silver opened at Rs.74829, fell from a high of Rs.75244 points to a low
of Rs.74481 with a rise of 86 points, a trend of around Rs.75009.
Meanwhile, The
FIIs as per Tuesday’s data were net sellers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 16805.40 crore against gross selling of Rs 20676.83 crore. Thus, FIIs
stood as net sellers of Rs 3871.43 crore in equities.
In the debt
segment, the gross purchase was of Rs 530.70 crore with gross sales of Rs
4075.41 crore. Thus, FIIs stood as net sellers of Rs 3544.71 crore in debt. In
the hybrid segment, the gross buying was of Rs 13.13 crore against gross
selling of Rs 6.97 crore. Thus, FIIs stood as net buyers of Rs 6.16 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22108 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 22188 – 22202 levels. Immediate support is placed at 21880
– 21808 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, mentioned on www.nikhilbhatt.in
