Dear
Trader…
Market traded volatile in a narrow range and finally closed
almost unchanged, taking a breather after a recent surge. On the sectoral
front, auto, metal and realty were among the top gainers whereas IT and Pharma
closed in red. The broader indices continued to outperform for yet another day,
wherein Small and Midcap both closed higher by over a percent.
It’s a healthy pause around the record high, which may extend
for couple of sessions. We needs participation from the heavyweights,
especially banking majors to trigger the next leg of upmove in the index.
Meanwhile, the buoyancy in the broader market is encouraging but traders should
stay selective and maintain a “buy on dips’ approach.
Nifty futures opened at 22580.00 points against the previous
close of 22602.60 and opened at a low of 22507.10 points. Nifty Future closed
with an average movement of 104.45 points and a decline of around 24.70 points
and 22577.90 points…!!
On the NSE, the midcap 100 index will rise 1.16% and smallcap
100 index is closing
rise 1.22%. Speaking of various sectoral indices, IT, Financial Services,
Healthcare, Pharma, Bank and Private Bank 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.68700, fell from a high of Rs.68849
points to a low of Rs.68545 with a rise of 521 points, a trend of around Rs.68810
and May Silver opened at Rs.75750, fell from a high of Rs.76895 points to a low
of Rs.75310 with a rise of 1188 points, a trend of around Rs.76720.
Meanwhile, The
FIIs as per Tuesday’s data were net buyers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 39847.77 crore against gross selling of Rs 37492.54 crore. Thus, FIIs
stood as net buyers of Rs 2355.23 crore in equities.
In the debt
segment, the gross purchase was of Rs 5991.79 crore with gross sales of Rs
1268.74 crore. Thus, FIIs stood as net buyers of Rs 4723.05 crore in debt. In
the hybrid segment, the gross buying was of Rs 30.55 crore against gross selling
of Rs 31.19 crore. Thus, FIIs stood as net sellers of Rs 0.64 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22606 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 22676 – 22707 levels. Immediate support is placed at 22404
– 22373 levels.
Past Performance is not an
Indicator of Future Returns. 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, mentioned on www.nikhilbhatt.in
