Dear
Trader…
Markets traded in a narrow range and ended almost flat,
pausing after two consecutive sessions of gains. Nifty future opened on a flat
note and attempted to inch higher in early trade, but a mixed trend among
heavyweights limited the upside. As a result, it closed unchanged at 22,649.95.
Sectoral movement kept traders engaged, with metals finishing
in the green, while realty and IT were among the laggards. A similar trend
played out in the broader market, as small-caps edged higher while mid-caps
closed in the red.
Nifty future is now approaching its immediate resistance at
22,808 and will require fresh catalysts to break past this level. A potential
trigger could be renewed buying interest in banking heavyweights, which have
largely stayed on the sidelines during the recent rebound. However, global
uncertainties may weigh on sentiment and disrupt this recovery attempt. Given
the mixed signals, we recommend maintaining a positive yet cautious stance,
with a focus on prudent position sizing.
Nifty futures opened at 22598 points against the previous
close of 22620 and opened at a low of 22572 points. Nifty Future closed with an
average movement of 165 points and a rise of around 29 points and 22649 points…!!
On the NSE, the midcap 100 index will decline 0.32% and smallcap 100 index is closing rise
0.67%. Speaking of various sectoral indices, the NSE
saw gains in only Media, Oil and Gas, Metal, Auto and PSU Bank stocks, while
all other sectoral indices closed lower.
At the start of intra-day trading, April gold opened at Rs.85740,
fell from a high of Rs.86060 points to a low of Rs.85713 with a decline of 10 points,
a trend of around Rs.86024 and May Silver opened at Rs.97956, fell from a high
of Rs.98200 points to a low of Rs.97506 with a decline of 528 points, a trend
of around Rs.97613.
Meanwhile, The
FIIs as per Friday’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 13118.16 crore against gross selling of Rs
15756.94 crore. Thus, FIIs stood as net sellers of Rs 2638.78 crore in
equities.
In the debt
segment, the gross purchase was of Rs 2598.85 crore with gross sales of Rs
2448.92 crore. Thus, FIIs stood as net buyers of Rs 149.93 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
72.21 crore, they stood at net buyers in Debt-VRR segment at Rs 390.75 crore,
while net sellers in Debt-FAR segment at Rs 168.61 crore.
In the
hybrid segment, the gross buying was of Rs 19.18 crore against gross selling of
Rs 37.41 crore. Thus, FIIs stood as net sellers of Rs 18.23 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22707 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 22737 – 22808 levels. Immediate support is placed at 22474 – 22404 levels.
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