Dear
Trader…
Markets extended their decline, losing nearly 1.3% as the
corrective phase continued. The session started on a weak note, but selling
pressure intensified in the latter half, dragging the Nifty closer to 23,000
before settling at 23,153.15. In line with the benchmark, all major sectors
ended lower, with realty, auto, and energy leading the losses. Additionally, a
sharp sell-off in midcap and smallcap stocks further dampened sentiment.
The Nifty’ drop below 23,200 has derailed the recovery
prospects, with a potential retest of 22,808 ahead. However, the bigger concern
is managing positions in midcap and smallcap stocks, which are witnessing heavy
selling and appear more vulnerable. Traders should adopt a cautious stance,
prioritizing risk management in the current market environment.
Nifty futures opened at 23421 points against the previous
close of 23459 and opened at a low of 23060 points. Nifty Future closed with an
average movement of 410 points and a decline of around 306 points and 23153 points…!!
On the NSE, the midcap 100 index will decline 3.02% and smallcap
100 index is closing decline 3.45%. Speaking of various sectoral
indices, Realty, Media, Healthcare, Auto and PSU Bank stocks saw heavy selling
on the NSE, while all other sectoral indices also closed lower.
At the start
of intra-day trading, April gold opened at Rs.86306, fell from a high of Rs.86360
points to a low of Rs.85350 with a decline of 462 points, a trend of around Rs.85354
and March Silver opened at Rs.95042, fell from a high of Rs.95221 points to a
low of Rs.93959 with a decline of 1245 points, a trend of around Rs.94050.
Meanwhile, The
FIIs as per Tuesday’s data were net sellers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross
buying was of Rs 10173.42 crore against gross selling of Rs 12470.54 crore.
Thus, FIIs stood as net sellers of Rs 2297.12 crore in equities.
In the debt
segment, the gross purchase was of Rs 250.11 crore with gross sales of Rs 2356.74
crore. Thus, FIIs stood as net sellers of Rs 2106.63 crore in debt. Of the total debt, FIIs stood as net
seller in Debt-General Limit segment at Rs 1368.17 crore, they stood at net
sellers in Debt-VRR segment at Rs 247.39 crore, while net sellers in Debt-FAR
segment at Rs 491.07 crore.
In the
hybrid segment, the gross buying was of Rs 22.84 crore against gross selling of
Rs 52.23 crore. Thus, FIIs stood as net sellers of Rs 29.39 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23303 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 23404 – 23474 levels. Immediate support is placed at 23088 – 23008 levels.
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