Dear
Trader…
On the weekly expiry day, markets remained range-bound and
closed slightly lower. While positive global cues initially drove an uptick,
selling pressure in heavyweight stocks across sectors pulled the Nifty future
into the red, eventually settling at 22,444.25. Barring the banking sector, all
major indices ended lower, with realty, auto, and metal stocks leading the
decline. The broader indices followed suit, losing nearly a percent each.
The ongoing consolidation in the Nifty index has kept
participants cautious, but a decisive breakout from the 22,272-22,676 range is
expected soon. In the meantime, traders should maintain a stock-specific
approach while managing position sizes carefully. We continue to advise against
adding to loss-making positions, particularly in the midcap and smallcap
segments, given the likelihood of sustained underperformance.
Nifty futures opened at 22550 points against the previous
close of 22530 and opened at a low of 22430 points. Nifty Future closed with an
average movement of 185 points and a decline of around 86 points and 22444 points…!!
On the NSE, the midcap 100 index will decline 0.75% and smallcap
100 index is closing decline 0.98%. Speaking of various sectoral indices, the
NSE saw gains in only PSU Bank and Bank stocks, while all other sectoral
indices closed lower.
At the start
of intra-day trading, April gold opened at Rs.86816, fell from a high of Rs.86940
points to a low of Rs.86521 with a rise of 177 points, a trend of around Rs.86863
and May Silver opened at Rs.99481, fell from a high of Rs.99481 points to a low
of Rs.99686 with a decline of 366 points, a trend of around Rs.99110.
Meanwhile, The
FIIs as per Wednesday’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 13979.03 crore against gross selling
of Rs 14118.18 crore. Thus, FIIs stood as net sellers of Rs 139.15 crore in
equities.
In the debt
segment, the gross purchase was of Rs 3496.69 crore with gross sales of Rs
1491.23 crore. Thus, FIIs stood as net buyers of Rs 2005.46 crore in debt. Of
the total debt, FIIs stood as net buyers in Debt-General Limit segment at Rs
2439.21 crore, they stood at net buyers in Debt-VRR segment at Rs 28.34 crore,
while net sellers in Debt-FAR segment at Rs 462.09 crore.
In the
hybrid segment, the gross buying was of Rs 10.08 crore against gross selling of
Rs 10.89 crore. Thus, FIIs stood as net sellers of Rs 0.81 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22570 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 22606 – 22676 levels. Immediate support is placed at 22373 – 22272 levels.
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