Dear
Trader…
Markets remained subdued and ended nearly unchanged amid
mixed signals. After a flat opening, Nifty future traded within a narrow range
and eventually closed near the day’s low at 22,582.15. Sectoral trends were
mixed, with auto and FMCG sectors finishing in the green, while metals and
realty were among the top laggards.
On Thursday, markets will take cues from global trends in
early trade, followed by a shift in focus to the monthly expiry of February’s
derivatives contracts. We maintain our “sell on rise” stance on the benchmark
while advising a balanced approach in stock positions. Meanwhile, investors can
start accumulating quality stocks, available at attractive valuations.
Nifty futures opened at 22582 points against the previous
close of 22612 and opened at a low of 22561 points. Nifty Future closed with an
average movement of 84 points and a decline of around 30 points and 22582 points…!!
On the NSE, the midcap 100 index will decline 0.62% and smallcap
100 index is closing decline 0.44%. Speaking of various sectoral indices Metal,
Realty, PSU Bank, Oil and Gas, IT, Pharma, Healthcare and Bank stocks were seen
selling on the NSE, while all other sectoral indices closed higher.
At the start
of intra-day trading, April gold opened at Rs.86325, fell from a high of Rs.86526
points to a low of Rs.86140 with a decline of 19 points, a trend of around Rs.86165
and March Silver opened at Rs.95500, fell from a high of Rs.95780 points to a
low of Rs.94302 with a decline of 633 points, a trend of around Rs.94456.
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 8609.39 crore against gross selling of Rs
14328.60 crore. Thus, FIIs stood as net sellers of Rs 5719.21 crore in
equities.
In the debt
segment, the gross purchase was of Rs 2435.77 crore with gross sales of Rs
1038.53 crore. Thus, FIIs stood as net buyers of Rs 1397.24 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
191.74 crore, they stood at net buyers in Debt-VRR segment at Rs 299.42 crore,
while net buyers in Debt-FAR segment at Rs 906.08 crore.
In the
hybrid segment, the gross buying was of Rs 20.50 crore against gross selling of
Rs 28.39 crore. Thus, FIIs stood as net sellers of Rs 7.89 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22606 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 22737 – 22808 levels. Immediate support is placed at 22474 – 22404 levels.
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