Dear
Trader…
Markets edged higher for the third successive session and
posted modest gains, tracking favorable global cues. After the initial uptick, Nifty future
oscillated in a narrow range till the end and finally settled at 22,354 level.
Meanwhile, a majority of sectors were aligned on the positive side wherein
realty, FMCG and auto were among the top gainers. The broader indices outshined
the benchmark and gained over a percent each.
We may see a pause in the index after the recent surge but
the tone is likely to remain positive citing a sharp dip in the volatility
index i.e. India VIX. Meanwhile, traders should continue with stock-specific
approach and utilize corrections to accumulate quality names.
Nifty futures opened at 22448.00 points against the previous
close of 22358.20 and opened at a low of 22345.00 points. Nifty Future closed
with an average movement of 103.00 points and a decline of around 3.25 points
and 22354.95 points…!!
On the NSE, the midcap 100 index will rise 1.06% and smallcap
100 index is closing
rise 1.23%. Speaking of various sectoral indices only Pharma, Healthcare, Oil
and Gas and Metal stocks were seen selling on the NSE, while all other sectoral
indices closed higher.
At the start
of intra-day trading, June gold opened at Rs.71125, fell from a high of Rs.71125
points to a low of Rs.70202 with a decline of 467 points, a trend of around Rs.70730
and May Silver opened at Rs.80171, fell from a high of Rs.80340 points to a low
of Rs.79361 with a decline of 322 points, a trend of around Rs.80257.
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 13322.30 crore against gross selling of Rs
15941.30 crore. Thus, FIIs stood as net sellers of Rs 2619.00 crore in
equities.
In the debt
segment, the gross purchase was of Rs 1721.38 crore with gross sales of Rs
776.80 crore. Thus, FIIs stood as net buyers of Rs 944.58 crore in debt. In the
hybrid segment, the gross buying was of Rs 22.88 crore against gross selling of
Rs 25.36 crore. Thus, FIIs stood as net sellers of Rs 2.48 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 22373 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 22404 – 22474 levels. Immediate support is placed at 22202
– 22180 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
