Dear
Trader…
The market exhibited high volatility on the monthly expiry
day but managed to extend its winning streak for the third consecutive session.
After an initial surge, Nifty saw profit-taking in the mid-session before a
late rebound helped it close with decent gains. Sectoral performance remained
mixed, with realty, energy, and pharma outperforming, while IT, media, and auto
lagged. Broader indices pared early gains and ended flat.
With the budget countdown underway, we anticipate continued
market fluctuations. Nifty is encountering resistance around its 20-day EMA at
23300, and a decisive close above this level is crucial for further recovery.
Otherwise, the index may face renewed pressure and again inch toward the
23232–23188 zone. In this environment, traders should emphasize selective stock
picking and robust risk management.
Nifty futures opened at 23310 points against the previous
close of 23279 and opened at a low of 23269 points. Nifty Future closed with an
average movement of 190 points and a rise of around 138 points and 23418 points…!!
On the NSE, the midcap 100 index will decline 0.01% and smallcap 100 index is closing rise
0.12%. Speaking of various sectoral indices only Consumer
Durables, IT, Media, Auto, PSU Bank and Metal stocks were seen selling on the
NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, February gold opened at
Rs.80566, fell from a high of Rs.81088 points to a low of Rs.80414 with a rise
of 672 points, a trend of around Rs.80952 and March Silver opened at Rs.92241,
fell from a high of Rs.93068 points to a low of Rs.92201 with a rise of 925 points,
a trend of around Rs.92791.
Meanwhile, The
FIIs as per Thursday’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 8229.89 crore against gross selling
of Rs 10026.11 crore. Thus, FIIs stood as net sellers of Rs 1796.22 crore in
equities.
In the debt
segment, the gross purchase was of Rs 2049.83 crore with gross sales of Rs
1543.79 crore. Thus, FIIs stood as net buyers of Rs 506.04 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
116.42 crore, they stood at net sellers in Debt-VRR segment at Rs 132.10 crore,
while net buyers in Debt-FAR segment at Rs 521.72 crore.
In the
hybrid segment, the gross buying was of Rs 16.72 crore against gross selling of
Rs 17.92 crore. Thus, FIIs stood as net sellers of Rs 1.20 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23505 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 23575 – 23606 levels. Immediate support is placed at 23373 – 23303 levels.
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