Dear
Trader…
Markets took a breather after six days of advance and shed
over half a percent. After the flat start, Nifty future oscillated in a narrow
range in the first half however a sharp cut in the final hours pushed the
lower. It finally settled closer to the
day’s low at 22,034.00 levels. Most
sectors traded in sync with the benchmark and edged lower on profit taking
wherein IT and energy were among the top losers. The broader indices too witnessed a dip and
lost nearly a percent each.
While banking is showing some strength now, profit taking in
other key sectors is capping the momentum. Besides, mixed global cues are also
weighing on the sentiment. Amid all, traders should continue with a “buy on
dips” approach, with a focus on stock selection.
Nifty futures opened at 22245.15 points against the previous
close of 22217.20 and opened at a low of 22022.85 points. Nifty Future closed
with
an average movement of 249.15 points and a decline of around 183.20 points and 22034.00
points…!!
On the NSE,
the midcap 100 index will decline 1.25% and smallcap 100 index is closing decline
1.04%. Speaking of various sectoral indices, the NSE saw gains in only Realty,
PSU Bank, Metal and FMCG stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.62211, fell from a high of Rs.62279
points to a low of Rs.62151 with a rise of 57 points, a trend of around Rs.62224
and March Silver opened at Rs.71381, fell from a high of Rs.71460 points to a low
of Rs.71080.00 with a decline of 135 points, a trend of around Rs.71120.
Meanwhile, The
FIIs as per Wednesday’s data were net buyers in both equity and debt segments,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 15007.68 crore against gross selling of Rs 12034.18 crore. Thus, FIIs
stood as net buyers of Rs 2973.50 crore in equities.
In the debt
segment, the gross purchase was of Rs 2402.28 crore with gross sales of Rs
563.33 crore. Thus, FIIs stood as net buyers of Rs 1838.95 crore in debt. In
the hybrid segment, the gross buying was of Rs 173.24 crore against gross
selling of Rs 147.73 crore. Thus, FIIs stood as net buyers of Rs 25.51 crore in
hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 22088 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 22108 – 22202 levels. Immediate support is placed at 21939 – 21808 levels.
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