Dear
Trader…
Markets remained choppy for yet another day but managed to
gain over half a percent. Weak global
cues triggered a gap-down start, followed by a muted move in the first half.
However, gradual recovery in the heavyweights across sectors pared all the losses
and also pushed the index in the green. Meanwhile, a mixed trend continued on
the sectoral front wherein financials, metal and banking performed well while
realty and pharma closed lower. The broader indices also traded mixed wherein
midcap lost nearly half a percent.
The rebound has eased some pressure, after four successive
days of decline but it is too early to assume that we are out of the woods. A
decisive close above 22272 in Nifty would pave the way for further recovery
else profit taking may resume. Traders should maintain hedged positions citing
the prevailing swings and wait for clarity.
Nifty futures opened at 21989.90 points against the previous
close of 22055.20 and opened at a low of 21813.60 points. Nifty Future closed
with an average movement of 355.30 points and a rise of around 71.10 points and
22126.30 points…!!
On the NSE, the midcap 100 index will decline 0.61% and small
cap 100 index is closing decline 0.10%. Speaking of various sectoral indices Media,
Realty, Pharma, Healthcare, IT, PSU Bank and Oil and Gas stocks were seen
selling on the NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, June gold opened at Rs.72718,
fell from a high of Rs.72898 points to a low of Rs.72309 with a decline of 125 points,
a trend of around Rs.72558 and May Silver opened at Rs.83795, fell from a high
of Rs.83795 points to a low of Rs.82736 with a decline of 159 points, a trend
of around Rs.83114.
Meanwhile, The
FIIs as per Friday’s data were net sellers in both equity and debt segments,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 18545.07 crore against gross selling of Rs 22708.22 crore. Thus, FIIs
stood as net sellers of Rs 4163.15 crore in equities.
In the debt
segment, the gross purchase was of Rs 1741.68 crore with gross sales of Rs
4324.11 crore. Thus, FIIs stood as net sellers of Rs 2582.43 crore in debt. In
the hybrid segment, the gross buying was of Rs 52.63 crore against gross
selling of Rs 35.70 crore. Thus, FIIs stood as net buyers of Rs 16.93 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22188 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 22202 – 22272 levels. Immediate support is placed at 22008 –
21808 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
