Dear
Trader…
Markets wrapped up the week on a strong note, gaining nearly
2%, buoyed by positive global cues. The U.S. decision to defer tariffs for all
countries except China eased recession concerns, boosting sentiment and lifting
fears of a global slowdown. As a result, the Nifty future index opened with a
strong gap-up and tested resistance near the 20-day exponential moving average
(DEMA) around 22,900. It then moved in a narrow range before settling at
22,917.65.
The recovery, supported by a continued decline in the
volatility index, is a positive sign, though such sharp moves remain
challenging to trade. On the index front, a decisive close above 23008 could
pave the way for a retest of the key moving average zone near 23303. On the
downside, immediate support lies at 22474. Until more stability is seen, we recommend
maintaining a hedged approach. Participants should stay focused on global
developments and corporate earnings for further direction.
Nifty futures opened at 22746 points against the previous
close of 22479 and opened at a low of 22746 points. Nifty Future closed with an
average movement of 271 points and a rise of around 438 points and 22917 points…!!
On the NSE, the midcap 100 index will rise 1.85% and smallcap 100 index is closing rise
2.88%. Speaking of various sectoral indices, Metal, Consumer
Durables, Pharma, Oil & Gas and Auto stocks saw heavy gains on the NSE,
while all other sectoral indices also closed higher.
At the start of intra-day trading, June gold opened at Rs.92463,
fell from a high of Rs.93736 points to a low of Rs.92463 with a rise of 1542 points,
a trend of around Rs.93575 and May Silver opened at Rs.92000, fell from a high
of Rs.93050 points to a low of Rs.92000 with a rise of 1415 points, a trend of
around Rs.93010.
Meanwhile, The
FIIs as per Friday’s data were net sellers in equity and debt segments both,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 12278.74 crore against gross selling of Rs 16766.15 crore. Thus, FIIs
stood as net sellers of Rs 4487.41 crore in equities.
In the debt
segment, the gross purchase was of Rs 1543.47 crore with gross sales of Rs
7886.06 crore. Thus, FIIs stood as net sellers of Rs 6342.59 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
1475.56 crore, they stood at net sellers in Debt-VRR segment at Rs 761.81
crore, while net sellers in Debt-FAR segment at Rs 4105.22 crore.
In the
hybrid segment, the gross buying was of Rs 25.67 crore against gross selling of
Rs 26.07 crore. Thus, FIIs stood as net sellers of Rs 0.40 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 22979 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 23008 – 23088 levels. Immediate support is placed at 22808 – 22676 levels.
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