Dear
Trader…
Markets traded volatile for yet another session and managed
to end marginally higher amid mixed cues. After the flat start, the Nifty
future oscillated in a range till the end and finally settled around 22196.50
level. Meanwhile, a mixed trend on the sectoral front kept the traders occupied
wherein realty, IT and auto edged higher while financials and energy traded
under pressure. The muted performance continued on the broader front as both
ended almost on a flat note.
The recent price action shows that bulls are consolidating
their positions at record-high levels and waiting for some fresh triggers.
Needless to say, the buoyancy in the global market, especially the US market,
is encouraging but we need alignment in heavyweights, especially the banking
majors to trigger fresh momentum. Meanwhile, traders should continue with a
“buy on dips’ approach, with a focus on stock selection
Nifty futures opened at 22120.00 points against the previous
close of 22141.65 and opened at a low of 22095.10 points. Nifty Future closed
with an average movement of 134.20 points and a rise of around 54.85 points and
22196.50 points…!!
On the NSE, the midcap 100 index will decline 0.12% and small
cap 100 index is closing rise 0.28%. Speaking of various sectoral indices, Oil
and Gas, Media, PSU Bank, Financial Services and FMCG 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.62200, fell from a high of Rs.62385
points to a low of Rs.62200 with a rise of 196 points, a trend of around Rs.62345
and March Silver opened at Rs.69659, fell from a high of Rs.69680 points to a
low of Rs.69190 with a rise of 122 points, a trend of around Rs.69552.
Meanwhile, The
FIIs as per Tuesday’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 12511.65 crore against gross selling of Rs
12768.01 crore. Thus, FIIs stood as net sellers of Rs 256.36 crore in equities.
In the debt
segment, the gross purchase was of Rs 1031.93 crore with gross sales of Rs
459.68 crore. Thus, FIIs stood as net buyers of Rs 572.25 crore in debt. In the
hybrid segment, the gross buying was of Rs 59.50 crore against gross selling of
Rs 31.86 crore. Thus, FIIs stood as net buyers of Rs 27.64 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22272 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 22303 – 22330 levels. Immediate support is placed at 22008 –
21880 levels.
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