Dear
Trader…
Markets slipped nearly half a percent, extending the ongoing
consolidation phase after a two-day rebound. The Nifty future index witnessed
volatile swings following a flat opening and eventually closed near the day’s
low at 23,113.90. Sectoral performance was mixed, with realty and pharma
emerging as the top losers, while FMCG and IT saw marginal gains.
This movement in the index aligns with expectations, and we
anticipate further downside pressure in the coming sessions towards the
23008-22808 zone in Nifty. However, the greater concern lies in the pronounced
selling in the midcap and smallcap segments, which is unlikely to ease in the
near term. On a positive note, select pockets across sectors are showing signs
of resilience and could emerge as potential outperformers during the next phase
of recovery. For now, participants are advised to align their positions with
the prevailing trend and avoid adding to losing trades.
Nifty futures opened at 23275.10 points against the previous
close of 23263.70 and opened at a low of 23071.45 points. Nifty Future closed
with an average movement of 303.55 points and a decline of around 149.80 points
and 23113.90 points…!!
On the NSE, the midcap 100 index will decline 1.55% and smallcap
100 index is closing decline 2.35%. Speaking of various sectoral indices, the
NSE saw
gains in only FMCG and IT stocks, while all other sectoral indices closed
lower.
At the start
of intra-day trading, February gold opened at Rs.79700, fell from a high of Rs.80073
points to a low of Rs.79700 with a rise of 409 points, a trend of around Rs.80035
and March Silver opened at Rs.91600, fell from a high of Rs.92097 points to a
low of Rs.91600 with a rise of 838 points, a trend of around Rs.91987.
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 15799.84 crore against gross selling of Rs
18861.32 crore. Thus, FIIs stood as net sellers of Rs 3061.48 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1438.97 crore with gross sales of Rs
932.93 crore. Thus, FIIs stood as net buyers of Rs 506.04 crore in debt. Of the
total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
301.14 crore, they stood at net buyers in Debt-VRR segment at Rs 8.67 crore,
while net buyers in Debt-FAR segment at Rs 798.51 crore.
In the
hybrid segment, the gross buying was of Rs 25.74 crore against gross selling of
Rs 48.31 crore. Thus, FIIs stood as net sellers of Rs 22.57 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23232 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 23303 – 23474 levels. Immediate support is placed at 23008 – 22808 levels.
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