Dear
Trader…
Markets witnessed sharp fluctuations throughout the session
before closing flat, reflecting a continued tussle between opposing forces.
Early in the day, pressure from heavyweight sectors, particularly banking,
dragged the index lower. However, a recovery in select major stocks helped pare
losses as the session progressed. By the end, the Nifty settled nearly
unchanged at 23,781.35.
Sectorally, the performance was mixed, with IT and FMCG
sectors inching higher, while pharma and metals ended in the red.
Despite the negative trend, oversold positions in certain
heavyweight stocks are limiting the pace of decline. We recommend maintaining a
“sell on rise” strategy for the index while prioritizing prudent stock
selection and effective risk management.”
Nifty futures opened at 23800.00 points against the previous
close of 23795.05 and opened at a low of 23593.30 points. Nifty Future closed
with an average movement of 245.70 points and a decline of around 13.70 points
and 23781.35 points…!!
On the NSE, the midcap 100 index will decline 1.05% and smallcap
100 index is closing
decline 1.65%. Speaking of various sectoral
indices, the NSE saw gains in only Oil and Gas, IT and FMCG stocks, while all
other sectoral indices closed lower.
At the start
of intra-day trading, February gold opened at Rs.77440, fell from a high of Rs.77698
points to a low of Rs.77369 with a rise of 45 points, a trend of around Rs.77576
and March Silver opened at Rs.90870, fell from a high of Rs.91375 points to a
low of Rs.90664 with a rise of 269 points, a trend of around Rs.91142.
Meanwhile, The
FIIs as per Wednesday’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 12254.06 crore against gross selling of Rs 13474.22 crore. Thus, FIIs
stood as net sellers of Rs 1220.16 crore in equities.
In the debt
segment, the gross purchase was of Rs 1249.47 crore with gross sales of Rs
1824.66? crore. Thus, FIIs stood as net sellers of Rs 575.19 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
22.16 crore, they stood at net sellers in Debt-VRR segment at Rs 203.11 crore,
while net sellers in Debt-FAR segment at Rs 349.92 crore.
In the
hybrid segment, the gross buying was of Rs 28.41 crore against gross selling of
Rs 24.12 crore. Thus, FIIs stood as net buyers of Rs 4.29 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 23808 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 23880 – 23909 levels. Immediate support is placed at 23676
– 23606 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
