Dear
Trader…
The markets took a pause after a three-day rally, shedding
over half a percent. Following a flat opening, the Nifty future traded within a
narrow range throughout the session, eventually closing near the day’s low at
the 24,092 level. Sectoral trends were mixed, with energy and FMCG sectors
ending in the green, while IT and pharma closed in the red. The broader indices
mirrored the benchmark’s movement, finishing with a decline of nearly half a
percent each.
This pullback appears to be a normal pause following the
recent recovery and could persist until the Nifty decisively crosses the next
resistance at 24,202. We continue to recommend focusing on stock – specific
opportunities in line with sectoral trends. In the near term, sectors like
FMCG, auto, and energy are expected to outperform, so positions should be
aligned accordingly.
Nifty futures opened at 24240.00 points against the previous
close of 24282.65 and opened at a low of 24071.40 points. Nifty Future closed
with an average movement of 197.55 points and a decline of around 190.25 points
and 24092.40 points…!!
On the NSE, the midcap 100 index will decline 0.30% and smallcap
100 index is closing
decline 0.24%. Speaking of various sectoral indices, the NSE saw gains in
only Media, PSU Bank, FMCG and Metal stocks, while all other sectoral indices
closed lower.
At the start
of intra-day trading, February gold opened at Rs.77946, fell from a high of Rs.77947
points to a low of Rs.77541 with a decline of 16 points, a trend of around Rs.77701
and March Silver opened at Rs.89398, fell from a high of Rs.89792 points to a
low of Rs.88954 with a rise of 472 points, a trend of around Rs.89645.
Meanwhile, The
FIIs as per Friday’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 14050.99 crore against gross selling of Rs
12387.39 crore. Thus, FIIs stood as net buyers of Rs 1663.60 crore in equities.
In the debt
segment, the gross purchase was of Rs 1748.58 crore with gross sales of Rs
2232.85 crore. Thus, FIIs stood as net sellers of Rs 484.27 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
554.95 crore, they stood at net sellers in Debt-VRR segment at Rs 1185.33
crore, while net buyers in Debt-FAR segment at Rs 1256.01 crore.
In the
hybrid segment, the gross buying was of Rs 19.27 crore against gross selling of
Rs 5.67 crore. Thus, FIIs stood as net buyers of Rs 13.60 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 24108 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 24188 – 24202 levels. Immediate support is placed at 24008
– 23939 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 / trading, mentioned on www.nikhilbhatt.in
