Dear
Trader…
Markets remained volatile on the weekly expiry day, ending
flat amid mixed cues. The session began on a positive note, but profit booking
in select heavyweights erased early gains. As a result, the Nifty future index
closed nearly unchanged at 23107.75. Sectorally, a mixed trend persisted, with
pharma, metal, and realty sectors outperforming, while IT and FMCG lagged.
Broader indices also experienced choppy trade, with small-caps slipping nearly
half a percent.
The persistent selling pressure on rebounds suggests that
bears remain firmly in control. Additionally, global uncertainties, including
the risk of potential tariff wars, are likely to keep traders cautious. Given
the current scenario, we recommend a stock-specific trading approach with a
strong focus on risk management and wait for clarity.
Nifty futures opened at 23119 points against the previous
close of 23123 and opened at a low of 23066 points. Nifty Future closed with an
average movement of 244 points and a decline of around 16 points and 23107 points…!!
On the NSE, the midcap 100 index will rise 0.25% and smallcap
100 index is closing decline 0.37%. Speaking of various sectoral indices only IT,
PSU Bank, FMCG, Consumer Durables, Oil & Gas, Auto and Bank stocks were
seen selling on the NSE, while all other sectoral indices closed higher.
At the start
of intra-day trading, April gold opened at Rs.85700, fell from a high of Rs.86020
points to a low of Rs.85681 with a rise of 428 points, a trend of around Rs.85909
and March Silver opened at Rs.95497, fell from a high of Rs.95899 points to a
low of Rs.95436 with a rise of 147 points, a trend of around Rs.95649.
Meanwhile, Hero
MotoCorp, Infosys, and Larsen & Toubro (L&T) were the biggest losers
with shedding up to 4.93 per cent. Meanwhile, Sun Pharma, Bajaj FinServ, Tata
Steel, Bajaj Finance, and Cipla emerged as the top gainers by rising by up to
3.12 per cent.
Going
forward, rupee movement will depend on further dollar index trends and global
risk sentiment, with key support seen near 86.60 and resistance around 87.10.
PM Modi arrived in the US after a visit to France, where he had co-chaired the
Artificial Intelligence Action Summit with French President Emmanuel Macron.
The Prime Minister and the US President were set to hold bilateral discussions
in the White House on Thursday (US time).
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.
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