Dear
Trader…
Markets took a breather on Friday and ended almost unchanged
amid mixed cues. After the flat start,
Nifty future hovered in a narrow range till the end and finally settled at
22,222.00 levels. Meanwhile, a mixed trend on the sectoral front kept the
traders occupied wherein realty and pharma edged higher while metal and IT
closed in the red. The broader indices
too traded dull and ended marginally higher.
Indications are in the favor of prevailing uptrend to
continue thus traders should use intermediate dips to add quality stocks. Also,
they should maintain a close watch on the global indices; especially the US,
and the participation of the banking majors for cues on momentum.
Nifty futures opened at 22285.10 points against the previous
close of 22243.25 and opened at a low of 22207.00 points. Nifty Future closed
with an average movement of 137.44 points and a decline of around 21.25 points
and 22222.00 points…!!
On the NSE, the midcap 100 index will rise 0.31% and smallcap
100 index is closing
rise 0.38%. Speaking of various sectoral indices, PSU Bank, Oil and Gas, Metal,
Bank and IT 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.62108, fell from a high of Rs.62159
points to a low of Rs.61877 with a rise of 157 points, a trend of around Rs.62134
and March Silver opened at Rs.70154, fell from a high of Rs.70270 points to a
low of Rs.69795.00 with a decline of 120 points, a trend of around Rs.70149.
Meanwhile, The
FIIs as per Friday’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 14613.14 crore against gross selling of Rs
14801.18 crore. Thus, FIIs stood as net sellers of Rs 188.04 crore in equities.
In the debt segment,
the gross purchase was of Rs 1272.62 crore with gross sales of Rs 775.81 crore.
Thus, FIIs stood as net buyers of Rs 496.81 crore in debt. In the hybrid
segment, the gross buying was of Rs 21.13 crore against gross selling of Rs
21.84 crore. Thus, FIIs stood as net sellers of Rs 0.71 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22303 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 22373 – 22404 levels. Immediate support is placed at 22008
– 21808 levels.
The securities quoted are for illustration only
and are not recommendatory.
Investment in securities market are subject to market
risks. Read Disclaimer and related all the documents carefully before
investing, mentioned on www.nikhilbhatt.in
