Dear
Trader…
Markets extended their corrective phase, remaining under
pressure and losing over half a percent. After a flat opening, Nifty steadily
declined throughout the session, ending near the day’s low at 23,648.10. Most
sectors moved in tandem with the benchmark, with realty, energy, and IT
emerging as the top losers. Broader indices also came under pressure, slipping
nearly a percent each.
Market sentiment is expected to react to TCS’s earnings
announcement in early Friday trades, which could set the initial tone. The
overall outlook remains tilted towards a bearish trend, and traders are advised
to utilize any intermediate rebounds as opportunities to short the index.
During the earnings season, stock-specific movements will be
influenced by result expectations. Participants should align their strategies
accordingly, prioritizing relatively strong sectors or themes for long trades
and targeting underperforming segments for short positions.
Nifty futures opened at 23759.00 points against the previous
close of 23781.35 and opened at a low of 23612.90 points. Nifty Future closed
with an average movement of 146.10 points and a decline of around 133 points
and 23648.10 points…!!
On the NSE, the midcap 100 index will decline 0.93% and smallcap
100 index is closing
decline 1.35%. Speaking of various sectoral
indices, the NSE saw gains in only FMCG stocks, while all other sectoral
indices closed lower.
At the start
of intra-day trading, February gold opened at Rs.77857, fell from a high of Rs.78144
points to a low of Rs.77780 with a rise of 380 points, a trend of around Rs.78127
and March Silver opened at Rs.91200, fell from a high of Rs.91799 points to a
low of Rs.90936 with a rise of 802 points, a trend of around Rs.91740.
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 10009.08 crore against gross selling of Rs 13738.38 crore. Thus, FIIs
stood as net sellers of Rs 3729.30 crore in equities.
In the debt
segment, the gross purchase was of Rs 1,812 crore with gross sales of Rs
7,955.68 crore. Thus, FIIs stood as net sellers of Rs 6,143.68? crore in debt.
Of the total debt, FIIs stood as net sellers in Debt-General Limit segment at
Rs 2357.98 crore, they stood at net sellers in Debt-VRR segment at Rs 830.70
crore, while net sellers in Debt-FAR segment at Rs 3698.30 crore.
In the
hybrid segment, the gross buying was of Rs 28.93 crore against gross selling of
Rs 15.34 crore. Thus, FIIs stood as net buyers of Rs 13.59 crore in hybrid
segment.
Technically,
the important key resistances are placed in Nifty future are at 23737 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 23770 – 23808 levels. Immediate support is placed at 23606
– 23530 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 / trading, mentioned on www.nikhilbhatt.in
