Dear
Trader…
Markets remained subdued on the monthly expiry day, ending
almost flat as the consolidation phase continued. After an initial uptick,
Nifty gradually drifted lower and traded within a narrow range for the rest of
the session. Sectoral performance was mixed, with auto, pharma, and realty
posting gains, while FMCG and banking remained under pressure. The broader
indices also traded within a range and closed nearly unchanged.
Despite the bearish sentiment, participants should await a decisive
breakout from the 23,909 – 23,979 zone for clear directional cues in the index.
Pharma and healthcare sectors continue to show strength, while selective
recovery is visible in sidelined sectors like FMCG and energy. Traders are
advised to adopt a stock-specific approach and maintain prudence with leveraged
positions.”
Nifty futures opened at 23806.40 points against the previous
close of 23770.60 and opened at a low of 23633.30 points. Nifty Future closed
with an average movement of 235.70 points and a decline of around 21.90 points
and 23748.70 points…!!
On the NSE, the midcap 100 index will rise 0.12% and smallcap
100 index is closing
decline 0.02%. Speaking of various sectoral indices, Media, FMCG, Metal, Bank,
IT and Private Bank stocks were seen selling on the NSE, while all other
sectoral indices closed higher.
At the start
of intra-day trading, February gold opened at Rs.76521, fell from a high of Rs.76716
points to a low of Rs.76521 with a rise of 430 points, a trend of around Rs.76700
and March Silver opened at Rs.89610, fell from a high of Rs.89740 points to a
low of Rs.89124 with a rise of 325 points, a trend of around Rs.89651.
Meanwhile,
on the last expiry day of the year, the domestic market remained flat
throughout the day amidst holidays in peer markets and a lack of major domestic
or global triggers. Auto shares saw gains from recent corrections. However,
concerns over FII outflows and the depreciating rupee persist, given the
strengthening US dollar index and worries about potential adverse tariffs and
concerns over rate cuts in 2025, held the muted market trend
Technically,
the important key resistances are placed in Nifty future are at 23909 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 23979 – 24008 levels. Immediate support is placed at 23676
– 21606 levels.
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
