Dear
Trader…
Markets remained volatile and ended nearly flat, extending
Tuesday’s trend. After opening on a steady note, Nifty future drifted lower in
the first half, but a recovery in select heavyweights helped trim most losses,
closing at 22,530.35. Sectoral trends remained mixed, with pharma, banking, and
auto seeing gains, while IT and realty lagged. Meanwhile, broader indices faced
pressure amid consolidation, losing nearly half a percent each.
Despite weak global cues, markets are displaying resilience,
though pressure in key sectors is limiting the upside. Further consolidation is
likely in the coming sessions, with heightened volatility expected due to the
weekly expiry. Traders should maintain a stock-specific approach, focusing on
large caps and prominent midcaps.
Nifty futures opened at 22580 points against the previous
close of 22564 and opened at a low of 22380 points. Nifty Future closed with an
average movement of 238 points and a decline of around 33 points and 22530 points…!!
On the NSE, the midcap 100 index will decline 0.57% and smallcap
100 index is closing decline 0.21%. Speaking of various sectoral indices only IT,
Realty, Media, PSU Bank and Metal 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.86139, fell from a high of Rs.86292
points to a low of Rs.85966 with a decline of 161 points, a trend of around Rs.85991
and May Silver opened at Rs.98562, fell from a high of Rs.99100 points to a low
of Rs.98255 with a rise of 816 points, a trend of around Rs.98948.
Meanwhile, Capital
market stocks declined as monthly systematic investment plan (SIP) inflows into
mutual funds fell to a three-month low of Rs 25,999 crore in February amid
market volatility.
Conversely, India’s
retail inflation eased to seven-month low of 3.61% in Feb’25, down from 4.31%
in January. The industrial output growth was above expectation at 5% YoY in
Jan’25 against 3.2% in December. These factors are likely to infuse some
positive into the markets on Thursday. Overall, we expect the market to remain
range-bound with some volatility and sector rotation.
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 22676 – 22707 levels. Immediate support is placed at 22474 – 22414 levels.
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