Dear
Trader…
The new expiry series began on a weak note, with markets
slipping nearly two percent, weighed down by weak global cues. The bearish
sentiment was evident from the start and intensified as the session progressed,
pushing Nifty to close near the day’s low at 22,280. The decline was
broad-based, with IT, auto, and FMCG leading the losses, while the broader
indices also followed a similar trend.
Uncertainty often weighs more than the actual event, and the
market is currently grappling with concerns over potential trade wars.
Additionally, persistent FII selling continues to add pressure. On a technical
front, after five consecutive months of decline, Nifty has approached the
crucial support zone of 22,202-22,088, where multiple key indicators align.
Given the prevailing weakness, traders should maintain a
cautious stance with a negative bias until clear signs of a pause or reversal
emerge. It is also advisable to manage leverage carefully and prioritize hedged
trades for risk management.
Nifty futures opened at 22532 points against the previous
close of 22683 and opened at a low of 22233 points. Nifty Future closed with an
average movement of 341 points and a decline of around 403 points and 22280 points…!!
On the NSE, the midcap 100 index will decline 2.49% and smallcap
100 index is closing decline 3.01%. Speaking of various sectoral indices, IT, Auto,
Media, PSU Bank, FMCG and Pharma 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.84899, fell from a high of Rs.84915
points to a low of Rs.84423 with a decline of 476 points, a trend of around Rs.84720
and March Silver opened at Rs.93229, fell from a high of Rs.93659 points to a
low of Rs.92756 with a decline of 470 points, a trend of around Rs.93165.
Meanwhile, The
FIIs as per Friday’s data were net buyers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 22069.31 crore against gross selling of Rs 20949.56 crore. Thus, FIIs
stood as net buyers of Rs 1119.75 crore in equities.
In the debt
segment, the gross purchase was of Rs 6616.60 crore with gross sales of Rs
1741.06 crore. Thus, FIIs stood as net buyers of Rs 4875.54 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
597.35 crore, they stood at net sellers in Debt-VRR segment at Rs 272.23 crore,
while net buyers in Debt-FAR segment at Rs 4550.42 crore.
In the
hybrid segment, the gross buying was of Rs 99.62 crore against gross selling of
Rs 110.45 crore. Thus, FIIs stood as net sellers of Rs 10.83 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22303 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 22404 – 22474 levels. Immediate support is placed at 22202 – 22088 levels.
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