Dear
Trader…
The markets extended Wednesday’s rebound on the weekly expiry
day, ending with modest gains. The session began on a subdued note, but
selective buying in heavyweights triggered a gradual recovery in the first
half, followed by a range-bound phase until the close. Ultimately, the Nifty
future index settled at 23263.70, up 0.28%.
Sectoral trends were mixed, with IT and pharma sectors
closing higher, while banking and energy remained subdued. After two
consecutive days of decline, the broader indices also saw a breather, gaining
between 1% and 1.7%.
The recovery in IT majors has been the primary driver of the
index’s rebound, with other sectors providing rotational support. However, we
recommend not reading too much into this bounce and sticking with a “sell
on rise” strategy for the Nifty index. At the same time, stock-specific
opportunities remain plentiful across sectors, so participants should focus on
maintaining balanced positions on both sides.
Nifty futures opened at 23150 points against the previous
close of 23198 and opened at a low of 23126 points. Nifty Future closed with an
average movement of 192 points and a rise of around 64 points and 23263 points…!!
On the NSE, the midcap 100 index will rise 1.86% and smallcap 100 index is closing rise
1.12%. Speaking of various sectoral indices only Private
Bank, Bank, Financial Services and PSU 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.79419, fell from a high of Rs.79583 points to a low of Rs.79375 with a decline
of 19 points, a trend of around Rs.79545 and March Silver opened at Rs.91423,
fell from a high of Rs.91688 points to a low of Rs.91104 with a decline of 586 points,
a trend of around Rs.91370.
Meanwhile, The
FIIs as per Thursday’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 14399.56 crore against gross selling of Rs
17417.61 crore. Thus, FIIs stood as net sellers of Rs 3018.05 crore in
equities.
In the debt
segment, the gross purchase was of Rs 3272.30 crore with gross sales of Rs
1621.09 crore. Thus, FIIs stood as net buyers of Rs 1651.21 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
290.42 crore, they stood at net buyers in Debt-VRR segment at Rs 797.00 crore,
while net buyers in Debt-FAR segment at Rs 563.79 crore.
In the
hybrid segment, the gross buying was of Rs 33.35 crore against gross selling of
Rs 17.61 crore. Thus, FIIs stood as net buyers of Rs 15.74 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23373 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 23404 – 23474 levels. Immediate support is placed at 23202 – 23088 levels.
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