Dear
Trader…
Markets remained volatile after five consecutive days of
decline, ultimately ending flat amid mixed cues. The session started on a weak
note, but a gradual recovery in select heavyweight stocks helped trim losses as
the day progressed. As a result, the Nifty future index closed at 23,123.85
level. Sectoral trends were mixed, keeping traders engaged – metals, banking,
and financials saw some respite, while realty and auto were among the top
laggards.
Persistent selling by FIIs, coupled with mixed earnings,
continues to weigh on market sentiment, while uncertain global cues add to the
pressure. On the technical front, Nifty
rebounded after testing its January low of around 22,800, and sustaining above
this level could offer some relief. However, the broader trend remains negative
unless a clear reversal pattern emerges. Given the current scenario, traders
should exercise caution and continue with a hedged approach
Nifty futures opened at 23134 points against the previous
close of 23153 and opened at a low of 22900 points. Nifty Future closed with an
average movement of 336 points and a decline of around 29 points and 23123 points…!!
On the NSE, the midcap 100 index will decline 0.26% and smallcap
100 index is closing decline 0.26%. Speaking of various sectoral
indices, the NSE saw gains in only PSU Bank, Metal, Financial Services, Private
Bank and Bank stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.84926, fell from a high of Rs.85240
points to a low of Rs.84750 with a decline of 543 points, a trend of around Rs.84962
and March Silver opened at Rs.94260, fell from a high of Rs.94635 points to a
low of Rs.94000 with a decline of 410 points, a trend of around Rs.94158.
Meanwhile, The
FIIs as per Wednesday’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 12428.64 crore against gross selling of Rs 16517.90 crore.
Thus, FIIs stood as net sellers of Rs 4089.26 crore in equities.
In the debt
segment, the gross purchase was of Rs 3077.82 crore with gross sales of Rs
5619.05 crore. Thus, FIIs stood as net sellers of Rs 2541.23 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
496.38 crore, they stood at net buyers in Debt-VRR segment at Rs 48.67 crore,
while net sellers in Debt-FAR segment at Rs 2093.52 crore.
In the
hybrid segment, the gross buying was of Rs 4.45 crore against gross selling of
Rs 19.75 crore. Thus, FIIs stood as net sellers of Rs 15.30 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 23202 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 – 23373 levels. Immediate support is placed at 23088
– 23008 levels.
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
