Dear
Trader…
Markets resumed decline and shed nearly half a percent amid
mixed cues. After the weak start, buying
in select heavyweights triggered some rebound in the middle however continued
pressure in the private banking majors capped upside. Eventually, Nifty future
settled at 21351 levels; down by 0.59%. Meanwhile, a mixed trend continued on
the sectoral front wherein energy and realty edged higher while IT, pharma and
FMCG witnessed profit taking. The
broader indices also witnessed varied moves, with midcap in red and smallcap
gaining over half a percent.
The prevailing pressure in banking majors is largely weighing
on the sentiments however selective buying in others is capping the damage so
far. This diverging trend indicates further consolidation in the index so
traders should stay focused on stock selection and trade management until we
see some clarity.
Nifty
futures opened at 21455.00 points against the previous close of 21477.60 and
opened at a low of 21243.20 points. Nifty Future closed with an average movement
of 231.15 points and a decline of around 126.60 points and 21351.00 points…!!
On the NSE,
the midcap 100 index will decline 0.45% and smallcap 100 index is closing rise 0.50%.
Speaking of various sectoral indices, the NSE saw gains in only Realty, Media,
Metal, PSU Bank and Auto stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, February gold opened at Rs.61932, fell from a high of Rs.61981
points to a low of Rs.61840 with a decline of 50 points, a trend of around Rs.61935
and March Silver opened at Rs.71885, fell from a high of Rs.72007 points to a
low of Rs.71590.00 with a rise of 8 points, a trend of around Rs.71877.
Meanwhile, The
FIIs as per Thursday’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 21835.57 crore against gross selling of Rs
27261.97 crore. Thus, FIIs stood as net sellers of Rs 5426.40 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1496.59 crore with gross sales of Rs
1357.47 crore. Thus, FIIs stood as net buyers of Rs 139.12 crore in debt. In
the hybrid segment, the gross buying was of Rs 26.68 crore against gross
selling of Rs 24.71 crore. Thus, FIIs stood as net buyers of Rs 1.97 crore in
hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 21606 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 21676 – 21808 levels. Immediate support is placed at 21434 – 21373 levels.
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