Dear
Trader…
Markets found some relief after the recent downturn, ending
the day with nearly half a percent gain. Following a gap-up opening, Nifty
edged higher during the initial trades, but pressure on select heavyweights
limited the recovery. Eventually, Nifty future closed at 23,271.75, up 0.47%.
Sectorally, the performance was mixed. While metal, energy, and financials
delivered notable gains, IT and FMCG sectors slipped into the red. Broader
indices staged a strong rebound, each climbing around 2.5%.
The rebound was largely driven by oversold conditions, which
often trigger such recoveries. However, participants should view this as an
opportunity to trim positions during further recovery, particularly in the
midcap and smallcap segments. IT and FMCG, which had shown resilience until
now, are beginning to exhibit signs of weakness, while other sectors remain
under bearish pressure. We thus recommend adopting a stock-specific approach
and prioritizing risk management in the current environment.
Nifty futures opened at 23248.00 points against the previous
close of 23162.10 and opened at a low of 23198.45 points. Nifty Future closed
with an average movement of 141 points and a rise of around 109 points and 23271.75
points…!!
On the NSE, the midcap 100 index will rise 2.45% and smallcap 100 index is closing rise
1.98%. Speaking of various sectoral indices only, IT
and FMCG 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.78204, fell from a high of Rs.78428 points to a low of Rs.78123 with a rise
of 23 points, a trend of around Rs.78189 and March Silver opened at Rs.90201,
fell from a high of Rs.90776 points to a low of Rs.89910 with a rise of 32 points,
a trend of around Rs.90481.
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 12074.49 crore
against gross selling of Rs 16350.95 crore. Thus, FIIs stood as net sellers of
Rs 4276.46 crore in equities.
In the debt segment, the gross purchase was of Rs 3900.12
crore with gross sales of Rs 1384.18 crore. Thus, FIIs stood as net buyers of
Rs 2515.94 crore in debt. Of the total debt, FIIs stood as net buyers in
Debt-General Limit segment at Rs 202.28 crore, they stood at net buyers in
Debt-VRR segment at Rs 1976.72 crore, while net buyers in Debt-FAR segment at
Rs 336.94 crore.
In the hybrid segment, the gross buying was of Rs 38.17 crore
against gross selling of Rs 17.51 crore. Thus, FIIs stood as net buyers of Rs
20.66 crore in hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 23303 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 23373 – 23404 levels. Immediate support is placed at 23088 –
23008 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
