Dear Trader…
Markets remained choppy on the weekly expiry day
and ended with a loss of half a percent. After a flat start, the Nifty traded
sideways before a sharp sell-off in the latter half wiped out the gains from
the previous session. Most sectors, barring IT, closed in the red, with realty,
metal, and auto among the top losers. The broader market mirrored this trend,
as the small-cap and mid-cap indices declined by 1.5% to 2%.
Ongoing uncertainty continues to make traders
cautious, potentially clouding the prevailing trend amid lingering geopolitical
tensions. Until the volatility, as indicated by the elevated India VIX,
subsides, we recommend maintaining a hedged strategy to navigate the current
environment, with focus on stock selection.
Nifty futures opened at 24489 points against the
previous close of 24461 and opened at a low of 24194 points. Nifty Future
closed with an average movement of 329 points and a decline of around 189 points
and 24271 points…!!
On the NSE, the midcap 100 index will decline 1.95%
and smallcap 100 index is closing decline 1.43%. Speaking of various sectoral
indices, the NSE saw gains in only IT And Media stocks, while all other
sectoral indices closed lower.
At
the start of intra-day trading, June gold opened at Rs.97323, fell from a high
of Rs.97323 points to a low of Rs.95381 with a decline of 154 points, a trend of around Rs.96936
and July Silver opened at Rs.96166, fell from a high of Rs.96315 points to a
low of Rs.94712 with a rise of 267 points, a trend of around Rs.96000.
Meanwhile,
The FIIs as per Thursday’s data were net buyers in equity segment, while they
were net sellers in debt segment, according to data released by the NSDL. In
equity segment, the gross buying was of Rs 16403.50 crore against gross selling
of Rs 13451.55 crore. Thus, FIIs stood as net buyers of Rs 2951.95 crore in
equities. In the debt segment, the gross purchase was of Rs 2657.00 crore with
gross sales of Rs 4078.20 crore. Thus, FIIs stood as net sellers of Rs 1421.20
crore in debt.
Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
978.27 crore, they stood at net sellers in Debt-VRR segment at Rs 4.44 crore,
while net sellers in Debt-FAR segment at Rs 438.49 crore. In the hybrid
segment, the gross buying was of Rs 23.06 crore against gross selling of Rs
6.77 crore. Thus, FIIs stood as net buyers of Rs 16.29 crore in hybrid segment.
Technically,
the important key resistances are placed in Nifty future are at 24271 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 24404 – 24606 levels. Immediate support is placed at 24088 –
24008 levels.
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