Dear
Trader…
Markets started the week on a muted note and ended almost
unchanged, taking a breather after the recent surge. After the flat start, Nifty future hovered in
a narrow range till the end and finally closed at 22,500.95 levels. Meanwhile,
a mixed trend on the sectoral front kept the traders occupied wherein energy,
pharma and banking edged higher while IT, FMCG and auto closed in the red. The broader indices extended underperformance
as the smallcap index lost nearly half a percent.
It is a healthy pause after the recent surge and participants
should continue with a “buy on dips” approach. We reiterate our view to focus
on banking for momentum while others would continue to play a supporting role
on a rotational basis.
Nifty futures opened at 22510.00 points against the previous
close of 22502.00 and opened at a low of 22466.00 points. Nifty Future closed
with an average movement of 78.95 points and a decline of around 1.05 points
and 22500.95 points…!!
On the NSE, the midcap 100 index will rise 0.20% and smallcap
100 index is closing
decline 0.51%. Speaking of various sectoral indices, the NSE saw gains in only Oil
and Gas, Private Bank, Financial Services, Bank, Pharma, PSU Bank and Realty
stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.63401, fell from a high of Rs.63649
points to a low of Rs.63401 with a decline of 24 points, a trend of around Rs.63539
and March Silver opened at Rs.70435, fell from a high of Rs.70681 points to a
low of Rs.70355.00 with a rise of 190 points, a trend of around Rs.70681.
Meanwhile, The
FIIs as per Monday’s data were net buyers in equity segment, while net sellers
in debt segment, according to data released by the NSDL. In equity segment, the
gross buying was of Rs 18241.90 crore against gross selling of Rs 16070.76
crore. Thus, FIIs stood as net buyers of Rs 2171.14 crore in equities.
In the debt
segment, the gross purchase was of Rs 1225.72 crore with gross sales of Rs
1442.08 crore. Thus, FIIs stood as net sellers of Rs 216.36 crore in debt. In
the hybrid segment, the gross buying was of Rs 20.66 crore against gross
selling of Rs 18.73 crore. Thus, FIIs stood as net buyers of Rs 1.93 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22570 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 22606 – 22616 levels. Immediate support is placed at 22373
– 22303 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
