Dear
Trader…
The markets experienced a rebound following a sharp decline
on Thursday, closing with modest gains. Strong global cues initiated a positive
start, but a mixed trend among heavyweight stocks limited the upside throughout
the day. Ultimately, the market closed at 22,127 levels, marking a 0.23%
increase. Metal, energy, and FMCG sectors were the top performers, while IT and
realty sectors saw declines. Broader indices also recorded modest gains, each
rising over half a percent.
It’s advised not to place undue significance on a single
day’s pause and to maintain a negative bias until the Nifty convincingly
surpasses the 22,404 level. However, there are indications of resilience in
certain areas, allowing participants to selectively explore buying
opportunities. Looking ahead, the 21,808 level in Nifty is seen as critical,
potentially influencing market direction.
Nifty futures opened at 22100.19 points against the previous
close of 22075.80 and opened at a low of 22050.85 points. Nifty Future closed
with an average movement of 179.15 points and a rise of around 51.25 points and
22127.05 points…!!
On the NSE, the midcap 100 index will Rise 0.86% and small
cap 100 index is closing Rise 0.69%. Speaking of various sectoral indices IT,
PSU Bank, Realty and Bank 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.71730,
fell from a high of Rs.72888 points to a low of Rs.71730 with a rise of 924 points,
a trend of around Rs.72563 and May Silver opened at Rs.84761, fell from a high
of Rs.85812 points to a low of Rs.84761 with a rise of 664 points, a trend of
around Rs.85163.
Meanwhile, The
FIIs as per Friday’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 11524.71 crore against gross selling of Rs
18194.63 crore. Thus, FIIs stood as net sellers of Rs 6669.92 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1684.41 crore with gross sales of Rs
1481.27 crore. Thus, FIIs stood as net buyers of Rs 203.14 crore in debt. In
the hybrid segment, the gross buying was of Rs 10.86 crore against gross
selling of Rs 42.88 crore. Thus, FIIs stood as net sellers of Rs 32.02 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22303 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 22373 – 22404 levels. Immediate support is placed at 22008 – 21939 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
