Dear
Trader…
Nifty future after opening positive witnessed selling
pressure in the second half of the day and closed with the loss of 119 points
at 22080 levels. Barring IT, Metals
& PSU Banks, all sectors ended in red including mid-cap and small-cap.
Market saw some relief at the start of the session on the back of a healthy
outlook by the IMF on the Indian Economy. However, it failed to sustain at
higher levels amid volatility and declined for the fourth consecutive day.
Strong selling by FIIs of Rs. 15763 crore in the last three
days due to the uncertain global environment also dampened the sentiments.
Overall we expect volatility to continue in the market in the absence of any
major positive trigger, while focus will continue on stock-specific action amid
earning season. Infosys and Bajaj Auto will be in the limelight as both will
announce their result late today. On the global front investors will watch out
for US Existing home sales data.
Nifty futures opened at 22229.90 points against the previous
close of 22200.75 and opened at a low of 22027.55 points. Nifty Future closed
with an average movement of 315.35 points and a decline of around 119.85 points
and 22080.90 points…!!
On the NSE, the midcap 100 index will decline 0.49% and smallcap
100 index is closing
decline 0.28%. Speaking of various sectoral indices, the NSE saw gains in only Media
stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, June gold opened at Rs.72498, fell from a high of Rs.72766
points to a low of Rs.72461 with a rise of 160 points, a trend of around Rs.72665
and May Silver opened at Rs.84000, fell from a high of Rs.84000 points to a low
of Rs.83358 with a Rise of 43 points, a trend of around Rs.83542.
Meanwhile, The
FIIs as per Thursday’s data were net sellers in both equity and debt segments,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 10993.53 crore against gross selling of Rs 14258.26 crore. Thus, FIIs
stood as net sellers of Rs 3264.73 crore in equities.
In the debt
segment, the gross purchase was of Rs 1304.38 crore with gross sales of Rs
4667.51 crore. Thus, FIIs stood as net sellers of Rs 3363.13 crore in debt. In
the hybrid segment, the gross buying was of Rs 28.87 crore against gross
selling of Rs 27.53 crore. Thus, FIIs stood as net buyers of Rs 1.34 crore in
hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 22180 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 22202 – 22272 levels. Immediate support is placed at 22008
– 21979 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
