Dear
Trader…
Nifty future gained 0.62% to close at 22,584 level on the
back of positive global cues as the US markets rebounded on Friday and the
Asian markets closed with gains on optimism over China’s plans to boost
consumption. Healthy gains in banking,
financial, pharma, and auto stocks pushed front-line indices higher. Nifty
Metal index rose 0.8% as China’s measures to revive its economy were seen
aiding base metal prices. Further, weakness in US dollar index amid mounting
economic concerns in the US, lifted the metal stocks.
Indian rupee gained for the third session, closing at 86.80
per dollar, adding to the positive investor sentiments. Last week, FIIs sold
just about Rs5700 crore of equites compared to Rs15,500 crore in the first week
of March. This slowdown in the selling intensity suggests there could be
limited downside in the near term.
Market participants will watch out for the interest rate
decisions of the US Fed and Bank of Japan on Wednesday and Bank of England on
Thursday. The US central bank is expected to hold interest rates steady,
maintaining its stance from the last meet due to risk of inflationary pressure
from the US tariff policies. We expect the market to remain in consolidation
mode, tracking global events over the week.
Nifty futures opened at 22510 points against the previous
close of 22444 and opened at a low of 22502 points. Nifty Future closed with an
average movement of 167 points and a rise of around 140 points and 22584 points…!!
On the NSE, the midcap 100 index will rise 0.70 % and smallcap 100 index is closing rise
0.48%. Speaking of various sectoral indices only Media,
Realty, PSU Bank, FMCG and Oil and Gas 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.87831,
fell from a high of Rs.88160 points to a low of Rs.87692 with a decline of 21 points,
a trend of around Rs.87970 and May Silver opened at Rs.100358, fell from a high
of Rs.100786 points to a low of Rs.100223 with a decline of 463 points, a trend
of around Rs.100275.
Meanwhile, The
FIIs as per Monday’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 11539.37 crore against gross selling of Rs
12396.63 crore. Thus, FIIs stood as net sellers of Rs 857.26 crore in equities.
In the debt
segment, the gross purchase was of Rs 2832.42 crore with gross sales of Rs
2208.42 crore. Thus, FIIs stood as net buyers of Rs 624.00 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
444.77 crore, they stood at net sellers in Debt-VRR segment at Rs 1034.65
crore, while net buyers in Debt-FAR segment at Rs 1213.88 crore. In the hybrid
segment, the gross buying was of Rs 24.38 crore against gross selling of Rs
18.00 crore. Thus, FIIs stood as net buyers of Rs 6.38 crore in hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 22636 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 22707 – 22770 levels. Immediate support is placed at 22404 – 22272 levels.
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