Dear
Trader…
Markets traded dull and ended almost unchanged on the weekly
expiry day. After the flat start, the Nifty future oscillated in a narrow range
and finally settled at 22,538.00 level.
Meanwhile, a mixed trend continued on the sectoral front which kept the
participants occupied wherein metal and FMCG posted strong gains while banking,
auto and energy closed in red. The broader indices witnessed some respite after
the recent fall and ended marginally higher.
We feel intermediate breathers are healthy as long as we do
not see any major cut in the index. However, traders shouldn’t get carried away
with the prevailing trend in the benchmark and stay focused on stock selection
and risk management. Besides, we reiterate our preference for index majors and
large midcaps over the smallcap counters.
Nifty futures opened at 22602.05 points against the previous
close of 22593.05 and opened at a low of 22526.30 points. Nifty Future closed
with an average movement of 96.60 points and a decline of around 55.05 points
and 22538.00 points…!!
On the NSE, the midcap 100 index will rise 0.22% and small
cap 100 index is closing decline 0.85%. Speaking of various sectoral indices, Oil
and Gas, Private Bank, Bank, Auto and Realty 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.65205, fell from a high of Rs.65525
points to a low of Rs.65205 with a rise of 216 points, a trend of around Rs.65394
and March Silver opened at Rs.74444, fell from a high of Rs.74444 points to a
low of Rs.73815 with a decline of 53 points, a trend of around Rs.74085.
Meanwhile, The
FIIs as per Thursday’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 19941.96 crore against gross selling of Rs 14257.59 crore. Thus, FIIs
stood as net buyers of Rs 5684.37 crore in equities.
In the debt
segment, the gross purchase was of Rs 2776.96 crore with gross sales of Rs
485.18 crore. Thus, FIIs stood as net buyers of Rs 2291.78 crore in debt. In
the hybrid segment, the gross buying was of Rs 25.10 crore against gross
selling of Rs 22.79 crore. Thus, FIIs stood as net buyers of Rs 2.31 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22606 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 22676 – 22707 levels. Immediate support is placed at 22303 –
22232 levels.
