Dear
Trader…
Markets slipped after a brief rebound, losing over half a
percent as the choppy trend persisted. Sentiment took a hit following the
announcement of fresh U.S. tariffs on China, leading to a gap – down opening
and a largely range-bound session thereafter. The outcome of the MPC meeting – where
a 25-bps rate cut was announced along with a shift to an accommodative stance –
failed to evoke any meaningful market reaction. As a result, the Nifty future
index closed at 22,479.65, down 0.67%. On the sectoral front, most indices
ended in the red, with IT, pharma, and realty emerging as the top losers.
The ongoing volatility continues to keep traders cautious,
and any near-term relief seems unlikely given the recent tariff-related
developments and the onset of the earnings season. Investors will react to the
IT major, TCS’s results in early trades on Friday, which could influence market
direction initially. Until volatility, as reflected by the elevated India VIX,
cools off, we recommend maintaining a hedged approach to navigate potential
sharp swings.
Nifty futures opened at 22544 points against the previous
close of 22630 and opened at a low of 22405 points. Nifty Future closed with an
average movement of 138 points and a decline of around 150 points and 22479 points…!!
On the NSE, the midcap 100 index will decline 0.51% and smallcap
100 index is closing decline 0.86%. Speaking of various sectoral indices, the
NSE saw gains in only FMCG, Consumer Durables and auto stocks, while all other
sectoral indices closed lower.
At the start
of intra-day trading, June gold opened at Rs.87998, fell from a high of Rs.90277
points to a low of Rs.87998 with a rise of 2311 points, a trend of around Rs.89959
and May Silver opened at Rs.89005, fell from a high of Rs.91070 points to a low
of Rs.88525 with a rise of 1885 points, a trend of around Rs.90629.
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 13916.51 crore against gross selling of Rs 18590.38 crore. Thus, FIIs
stood as net sellers of Rs 4673.87 crore in equities.
In the debt
segment, the gross purchase was of Rs 3895.96 crore with gross sales of Rs
8049.18 crore. Thus, FIIs stood as net sellers of Rs 4153.22 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
1159.42 crore, they stood at net sellers in Debt-VRR segment at Rs 2413.48
crore, while net sellers in Debt-FAR segment at Rs 580.32 crore.
In the hybrid
segment, the gross buying was of Rs 32.36 crore against gross selling of Rs
43.80 crore. Thus, FIIs stood as net sellers of Rs 11.44 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22575 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 22606 – 22676 levels. Immediate support is placed at 22434 – 22373 levels.
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