Dear
Trader…
Markets traded under pressure on monthly expiry day, slipping
nearly half a percent. Early weakness in IT majors weighed on sentiment, with
other sectors joining the decline later in the session. However, resilience in
select heavyweight stocks helped limit the overall losses. Nifty ultimately
closed at 24,205, down 0.56%. Most sectors saw losses, with IT and FMCG leading
the decline. Broader indices showed mixed performance, as midcaps edged lower
while smallcaps gained over a percent.
While IT had previously shown resilience, holding hope for a
recovery, today’s decline in major IT stocks has dampened the outlook for a
strong rebound. Current indications point to a possible retest of the prior
swing low near the 24,000 level. Despite the negativity in the benchmark
indices, there are notable opportunities on both sides in certain sectors.
Traders should adjust their strategies accordingly, emphasizing risk
management.
Nifty futures opened at 24472.75 points against the previous
close of 24506.50 and opened at a low of 24322.00 points. Nifty Future closed
with an average movement of 157.95 points and a decline of around 100.55 points
and 24405.95 points…!!
On the NSE, the midcap 100 index will decline 0.40% and smallcap
100 index is closing
rise 1.15%. Speaking of various sectoral indices, the NSE saw gains in only Media,
Pharma and Healthcare stocks, while all other sectoral indices closed lower.
At the start
of intra-day trading, December gold opened at Rs.79616, fell from a high of Rs.79681
points to a low of Rs.79325 with a decline of 266 points, a trend of around Rs.79470
and December Silver opened at Rs.97211, fell from a high of Rs.97344 points to
a low of Rs.96620 with a decline of 717 points, a trend of around Rs.97023.
Meanwhile, The
FIIs as per Thursday’s data were net sellers in equity segments, while net
buyers in debt segments, according to data released by the NSDL. In equity
segment, the gross buying was of Rs 17724.03 crore against gross selling of Rs
19921.65 crore. Thus, FIIs stood as net sellers of Rs 2197.62 crore in
equities.
In the debt
segment, the gross purchase was of Rs 2408.90 crore with gross sales of Rs
2303.88 crore. Thus, FIIs stood as net buyers of Rs 105.02 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
428.19 crore, they stood at net sellers in Debt-VRR segment at Rs 398.93 crore,
while net buyers in Debt-FAR segment at Rs 76.47 crore.
In the
hybrid segment, the gross buying was of Rs 26.04 crore against gross selling of
Rs 6.41 crore. Thus, FIIs stood as net buyers of Rs 19.63 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 24505 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 24606 – 24676 levels. Immediate support is placed at 24330 – 24272 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
