Dear
Trader…
Markets started the week on a firm note and gained over half
a percent, tracking favorable cues. After the initial uptick, Nifty future
inched gradually higher however profit taking in select heavyweights capped the
upside in the second half. Eventually, it closed at 22,752.00 levels; up by
0.69%. Most sectors contributed to the move wherein auto, energy and realty
were among the top gainers. After days of outperformance, the broader indices
took a breather and closed almost unchanged.
Nifty future has finally ended a week-long consolidation
phase and the banking index has also finally made a new record high however the
momentum is still missing. Amid all positivity, mixed global cues may continue
to result in intermediate dips and traders should utilize the same for adding
quality names.
Nifty futures opened at 22653.00 points against the previous
close of 22595.50 and opened at a low of 22625.10 points. Nifty Future closed
with an average movement of 148.20 points and a rise of around 156.50 points
and 22752.00 points…!!
On the NSE, the midcap 100 index will rise 0.04% and small
cap 100 index is closing rise 0.32%. Speaking of various sectoral indices only,
PSU Bank, Media 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.70999, fell from a high of Rs.71080
points to a low of Rs.70598 with a rise of 55 points, a trend of around Rs.70691
and May Silver opened at Rs.81595, fell from a high of Rs.82064 points to a low
of Rs.81342 with a rise of 657 points, a trend of around Rs.81520.
Meanwhile, The
FIIs as per Monday’s data were net buyers in equity segment, while they were
net sellers in debt segment, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 13097.09 crore against gross selling of Rs
11182.00 crore. Thus, FIIs stood as net buyers of Rs 1915.09 crore in equities.
In the debt
segment, the gross purchase was of Rs 1138.24 crore with gross sales of Rs
2764.11 crore. Thus, FIIs stood as net sellers of Rs 1625.87 crore in debt. In
the hybrid segment, the gross buying was of Rs 85.98 crore against gross
selling of Rs 76.19 crore. Thus, FIIs stood as net buyers of Rs 9.79 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22808 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 22838 – 22880 levels. Immediate support is placed at 22606 –
22474 levels.
Past Performance is not an
Indicator of Future Returns. 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
