Dear
Trader…
Markets traded volatile for yet another session and gained
nearly half a percent. After the initial uptick, Nifty future slipped sharply
lower in the early hours however strength in heavyweights, especially from
banking and IT majors, helped the index to recoup losses and inch higher.
Eventually, Nifty future settled at 22,637.85 level; up by 0.42%. Meanwhile, a
mixed trend continued on the sectoral front wherein FMCG and energy closed in
the red. The buoyancy continued on the broader front wherein smallcap gained
nearly half a percent.
We expect the prevailing tone to continue however the pace of
advance would largely depend upon the performance of banking and IT majors.
Participants should continue with the “buy on dips” approach and focus more on
stock selection.
Nifty futures opened at 22640.05 points against the previous
close of 22542.60 and opened at a low of 22420.05 points. Nifty Future closed
with an average movement of 248.95 points and a rise of around 95.25 points and
22637.85 points…!!
On the NSE, the midcap 100 index will rise 0.01% and small
cap 100 index is closing rise 0.45%. Speaking of various sectoral indices, Oil
and Gas, PSU Bank, FMCG, Pharma, Media, Metal and Realty 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.70100, fell from a high of Rs.70275
points to a low of Rs.69750 with a decline of 28 points, a trend of around Rs.69750
and May Silver opened at Rs.79099, fell from a high of Rs.79766 points to a low
of Rs.79099 with a rise of 493 points, a trend of around Rs.79504.
Meanwhile, The
FIIs as per Thursday’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 14852.46 crore against gross selling of Rs 16107.38 crore. Thus, FIIs
stood as net sellers of Rs 1254.92 crore in equities.
In the debt
segment, the gross purchase was of Rs 2147.01 crore with gross sales of Rs
5800.71 crore. Thus, FIIs stood as net sellers of Rs 3653.70 crore in debt. In
the hybrid segment, the gross buying was of Rs 14.77 crore against gross
selling of Rs 14.60 crore. Thus, FIIs stood as net buyers of Rs 0.17 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22676 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 22737 – 22808 levels. Immediate support is placed at 22474 –
22404 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
