Dear
Trader…
Markets strengthened recovery and gained nearly a percent, in
continuation to Friday’s rebound. Firm global cues triggered an upbeat start,
followed by a range bound for most of the session. However, buying in select
heavyweights in the final hour further boosted the gains. Eventually, it settled around the day’s high
at 22,393.35 level. All the key sectors contributed to the move wherein auto,
banking and FMCG were among the top gainers.
Participants are taking comfort from stability on the global
front while earnings are offering mixed indications so far. On the index front,
Nifty has reclaimed its short term moving average i.e. 20 DEMA but
sustainability is critical to inch towards the record high. Amid all, traders
should continue with a hedged approach and stay focused on stock selection.
Nifty futures opened at 22261.25 points against the previous
close of 22128.70 and opened at a low of 22186.00 points. Nifty Future closed
with an average movement of 211.94 points and a rise of around 264.65 points
and 22393.35 points…!!
On the NSE, the midcap 100 index will rise 0.82% and small
cap 100 index is closing rise 1.31%. Speaking of various sectoral indices, PSU
Bank, Consumer Durables, Pharma and Healthcare stocks saw heavy gains on the
NSE, while all other sectoral indices also closed higher.
At the start of intra-day trading, June gold opened at Rs.72127,
fell from a high of Rs.72295 points to a low of Rs.71370 with a decline of 1196
points, a trend of around Rs.71610 and May Silver opened at Rs.82500, fell from
a high of Rs.82500 points to a low of Rs.81080 with a decline of 2244 points, a
trend of around Rs.81263.
Meanwhile, The
FIIs as per Monday’s data were net buyers in equity segment, while they were
net sellers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 16861.29 crore against gross selling of Rs
16088.52 crore. Thus, FIIs stood as net buyers of Rs 772.77 crore in equities.
In the debt
segment, the gross purchase was of Rs 1516.26 crore with gross sales of Rs
2335.54 crore. Thus, FIIs stood as net sellers of Rs 819.28 crore in debt. In
the hybrid segment, the gross buying was of Rs 12.95 crore against gross
selling of Rs 16.96 crore. Thus, FIIs stood as net sellers of Rs 4.01 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22404 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 22474 – 22505 levels. Immediate support is placed at 22303 –
22272 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
