Dear
Trader…
Markets remained lackluster and ended marginally lower,
extending the ongoing corrective phase. After an initial dip, Nifty gradually
recovered, followed by a range-bound movement for the rest of the session.
Sectoral trends were mixed, with energy, metal, and banking stocks gaining,
while auto and IT sectors underperformed. A slight rebound in small-cap stocks
improved market breadth, though mid-caps closed on a flat note.
Weak global cues continue to weigh on sentiment, but
selective buying is limiting the downside. We maintain a cautious outlook on
the index, with key support at the 22088-22008 zone. Among sectors, banking,
financials, and metals are exhibiting relative strength, while others present a
mixed trend. Traders should align their positions accordingly while managing
risk with prudent position sizing.
Nifty futures opened at 22115 points against the previous
close of 22259 and opened at a low of 22101 points. Nifty Future closed with an
average movement of 136 points and a decline of around 68 points and 22191 points…!!
On the NSE, the midcap 100 index will rise 0.05% and smallcap
100 index is closing rise 0.69%. Speaking of various sectoral indices Auto, IT,
FMCG, Pharma, Private Bank and Helathcare 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.85399, fell from a high of Rs.86248
points to a low of Rs.85335 with a rise of 806 points, a trend of around Rs.86190
and May Silver opened at Rs.96093, fell from a high of Rs.96682 points to a low
of Rs.95780 with a rise of 426 points, a trend of around Rs.96481.
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 10062.77 crore against gross selling of Rs
14725.30 crore. Thus, FIIs stood as net sellers of Rs 4662.53 crore in equities.
In the debt
segment, the gross purchase was of Rs 4666.76 crore with gross sales of Rs
868.75 crore. Thus, FIIs stood as net buyers of Rs 3798.01 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
1433.68 crore, they stood at net buyers in Debt-VRR segment at Rs 18.74 crore,
while net buyers in Debt-FAR segment at Rs 2345.59 crore.
In the
hybrid segment, the gross buying was of Rs 34.90 crore against gross selling of
Rs 29.34 crore. Thus, FIIs stood as net buyers of Rs 5.56 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22202 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 22303 – 22373 levels. Immediate support is placed at 22088 – 22008 levels.
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