Dear
Trader…
Market showed strength amid mixed cues and gained over half a
percent. After the gap-up start, Nifty future inched gradually higher for most
of the session however profit taking in the final hour trimmed the gains.
Eventually, it settled at 22,194 levels; up by 0.48%. Meanwhile, a mixed trend
continued on the sectoral front wherein energy and auto performed well while IT
and FMCG closed in the red. The broader indices also witnessed a similar trend
wherein smallcap gained over a percent while midcap closed flat.
Nifty has finally surpassed the hurdle of short term moving
average i.e. 20 DEMA but we need sustainability above 22,303 to extend the
rebound. Also, since the volatility is still high across the board, traders
should remain focused on stock selection and risk management.
Nifty futures opened at 22099.00 points against the previous
close of 22088.55 and opened at a low of 22081.55 points. Nifty Future closed
with an average movement of 128.45 points and a rise of around 105.45 points
and 22194.00 points…!!
On the NSE, the midcap 100 index will rise 0.06% and small
cap 100 index is closing rise 0.94%. Speaking of various sectoral indices PSU
Bank, IT, Media, FMCG, Pharma, Metal and Healthcare 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.66198, fell from a high of Rs.66499
points to a low of Rs.66018 with a rise of 158 points, a trend of around Rs.66272
and May Silver opened at Rs.74487, fell from a high of Rs.74784 points to a low
of Rs.74359 with a decline of 8 points, a trend of around Rs.74510.
Meanwhile, The
FIIs as per Wednesday’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 20870.39 crore against gross selling
of Rs 24040.98 crore. Thus, FIIs stood as net sellers of Rs 3170.59 crore in
equities.
In the debt
segment, the gross purchase was of Rs 3609.56 crore with gross sales of Rs
1127.31 crore. Thus, FIIs stood as net buyers of Rs 2482.25 crore in debt. In
the hybrid segment, the gross buying was of Rs 582.90 crore against gross
selling of Rs 17.91 crore. Thus, FIIs stood as net buyers of Rs 564.99 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22232 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 – 22330 levels. Immediate support is placed at 22008 –
21880 levels.
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and are not recommendatory.
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risks. Read Disclaimer and related all the documents carefully before investing
/ trading, mentioned on www.nikhilbhatt.in
