Dear
Trader…
Markets witnessed volatility but managed to close in positive
territory, taking a breather after Monday’s decline. Despite weak global cues,
the benchmark displayed resilience, inching higher for most of the session.
However, a sharp dip in the final half-hour erased a significant portion of the
gains. Ultimately, the Nifty future index settled at 22,977.70, up 0.57%.
Markets have repeatedly struggled to sustain recovery
attempts, and this session was no exception. Ongoing caution ahead of the Union
Budget, a mixed earnings season, and weak global cues are further unsettling
participants. We maintain our “sell on rise” stance for the index and emphasize
the importance of robust risk management, particularly in broader market
segments like midcaps and small caps, while awaiting clearer signals.
Nifty futures opened at 22948 points against the previous
close of 22846 and opened at a low of 22871 points. Nifty Future closed with an
average movement of 287 points and a rise of around 131 points and 22977 points…!!
On the NSE, the midcap 100 index will decline 0.51% and smallcap 100 index is closing decline
1.81%. Speaking of various sectoral indices, Pharma, Healthcare,
Media, Consumer Durables, OIL & GAS, IT, Metal 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.79631, fell from a high of Rs.79989 points to a low of Rs.79608 with a rise of
348 points, a trend of around Rs.79934 and March Silver opened at Rs.90157,
fell from a high of Rs.90550 points to a low of Rs.89850 with a rise of 190 points,
a trend of around Rs.90413.
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 10440.46 crore against gross selling of Rs
14954.62 crore. Thus, FIIs stood as net sellers of Rs 4514.16 crore in
equities. In the debt segment, the gross purchase was of Rs 4163.01 crore with
gross sales of Rs 1510.10 crore. Thus, FIIs stood as net buyers of Rs 2652.91
crore in debt.
Of the total
debt, FIIs stood as net buyers in Debt-General Limit segment at Rs 379.58
crore, they stood at net sellers in Debt-VRR segment at Rs 192.57 crore, while
net buyers in Debt-FAR segment at Rs 2080.76 crore. In the hybrid segment, the
gross buying was of Rs 20.91 crore against gross selling of Rs 18.21 crore.
Thus, FIIs stood as net buyers of Rs 2.70 crore in hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 23008 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 23088 – 23108 levels. Immediate support is placed at 22880 – 22808 levels.
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