Dear
Trader…
Markets witnessed heightened volatility, continuing their
downward trend, and ended nearly half a percent lower. Despite a partial
recovery from intraday lows, driven by a rally in IT stocks following TCS’s
results, sector-wide weakness resulted in a negative close. Except for IT, all
other sectors faced selling pressure, with pharma, banking, and realty leading
the declines. Broader indices suffered even steeper losses, falling around
2%-2.5%.
The market remains under strain, with even minor pullbacks
attracting selling pressure. In the absence of any clear signs of a trend
reversal, particularly in the banking index, traders are advised to use
rebounds as shorting opportunities. Caution should remain a priority, with a
focus on robust risk management.
Additionally, as the earnings season kicks off, erratic
market swings are likely to intensify. Adopting a hedged approach and
maintaining disciplined position sizing is recommended for navigating the
current conditions.
Nifty futures opened at 23625.05 points against the previous
close of 23648.10 and opened at a low of 23430.00 points. Nifty Future closed
with an average movement of 254.90 points and a decline of around 147.45 points
and 23500.65 points…!!
On the NSE, the midcap 100 index will decline 2.08% and smallcap
100 index is closing
decline 2.61%. Speaking of various sectoral
indices, the NSE saw gains in only IT stocks, while all other sectoral indices
closed lower.
At the start
of intra-day trading, February gold opened at Rs.78302, fell from a high of Rs.78520
points to a low of Rs.78212 with a rise of 400 points, a trend of around Rs.78504
and March Silver opened at Rs.91896, fell from a high of Rs.92372 points to a
low of Rs.91600 with a rise of 494 points, a trend of around Rs.92205.
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 9085.34 crore against gross selling of Rs 16114.72 crore. Thus, FIIs
stood as net sellers of Rs 7029.38 crore in equities.
In the debt
segment, the gross purchase was of Rs 3155.76 crore with gross sales of Rs
3875.44 crore. Thus, FIIs stood as net sellers of Rs 719.68 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
917.31 crore, they stood at net sellers in Debt-VRR segment at Rs 43.62 crore,
while net sellers in Debt-FAR segment at Rs 1593.37 crore.
In the
hybrid segment, the gross buying was of Rs 27.29 crore against gross selling of
Rs 15.19 crore. Thus, FIIs stood as net buyers of Rs 12.10 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 23570 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 23606 – 23707 levels. Immediate support is placed at 23474
– 23404 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
