Dear
Trader…
Markets traded under pressure on the weekly expiry day and
lost nearly a percent. After the flat start, Nifty slipped sharply lower in the
first half however it tried to trim losses in the middle but sustained decline
in the private banking majors continues to weigh on the sentiment. Most sectors
traded in sync with the move wherein FMCG, banking and financials were among
the worst hit. Amid all, the broader indices showed resilience and managed to
end on a flat note.
The fresh decline in the private banking majors and select
heavyweights like ITC has again pushed the Nifty to its crucial support zone of
short term moving average i.e. 20 DEMA. And, a decisive close below 21,606
would again push the bulls on the back foot. We thus suggest hedging the
existing longs and waiting for clarity.
Nifty
futures opened at 22055.00 points against the previous close of 22003.70 and
opened at a low of 21768.00 points. Nifty Future closed with an average
movement of 319.00 points and a decline of around 174.20 points and 21829.50
points…!!
On the NSE,
the midcap 100 index will decline 0.05% and smallcap 100 index is closing decline
0.39%. Speaking of various sectoral indices, the NSE saw gains in only PSU
Bank, Media, Oil and Gas, IT and Healthcare stocks, while all other sectoral
indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.62436, fell from a high of Rs.62557
points to a low of Rs.62277 with a decline of 197 points, a trend of around Rs.62327
and March Silver opened at Rs.70091, fell from a high of Rs.70480 points to a
low of Rs.70051.00 with a decline of 25 points, a trend of around Rs.70286.
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 14727.26 crore against gross selling of Rs
16328.58 crore. Thus, FIIs stood as net sellers of Rs 1601.32 crore in
equities.
In the debt
segment, the gross purchase was of Rs 3159.23 crore with gross sales of Rs
2512.06 crore. Thus, FIIs stood as net buyers of Rs 647.17 crore in debt. In
the hybrid segment, the gross buying was of Rs 44.02 crore against gross
selling of Rs 16.03 crore. Thus, FIIs stood as net buyers of Rs 27.99 crore in
hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 21880 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 21909 – 21939 levels. Immediate support is placed at 21676 – 21606 levels.
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