Dear
Trader…
Markets traded within a narrow range following Tuesday’s dip
but managed to close slightly higher. The session began on a positive note,
supported by encouraging factors such as easing retail inflation and stable
global cues. However, the absence of sustained buying interest and a mixed
performance among heavyweight stocks limited further gains as the day
progressed. Eventually, the Nifty future closed at 24,715.90, up by 0.31%. Most
key sectors contributed to the up move, with the exception of banking. Notably,
metal, realty, and energy sectors were among the top performers.
We believe this is a healthy pause in Nifty following
Monday’s rally, and it may continue for another session or two. In the
meantime, traders should maintain a stock-specific approach and use this
consolidation phase to accumulate fundamentally strong names. Alongside key
sectors, themes such as defense, railways, and PSU banking are also offering
trading opportunities. However, it’s important to maintain a balanced view and
avoid excessive exposure.
Nifty futures opened at 24670 points against the previous
close of 24640 and opened at a low of 24572 points. Nifty Future closed with an
average movement of 262 points and a rise of around 75 points and 24715 points…!!
On the NSE, the midcap 100 index will rise 1.11% and smallcap 100 index is closing rise 1.44%. Speaking of various sectoral indices Only Private Bank stocks
were seen selling on the NSE, while all other sectoral indices closed higher.
At the start of intra-day trading, June gold opened at Rs.93143,
fell from a high of Rs.93666 points to a low of Rs.92969 with a decline of 516 points,
a trend of around Rs.93131 and July Silver opened at Rs.96650, fell from a high
of Rs.97053 points to a low of Rs.95770 with a decline of 813 points, a trend
of around Rs.95954.
Meanwhile, The FIIs as per Wednesday’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 17669.11
crore against gross selling of Rs 17504.81 crore. Thus, FIIs stood as net
buyers of Rs 164.30 crore in equities.
In the debt segment, the gross purchase was of Rs 1705.10
crore with gross sales of Rs 4199.97 crore. Thus, FIIs stood as net sellers of
Rs 2494.87 crore in debt. Of the total debt, FIIs stood as net sellers in
Debt-General Limit segment at Rs 1414.77 crore, they stood at net buyers in
Debt-VRR segment at Rs 349.84 crore, while net sellers in Debt-FAR segment at
Rs 1429.94 crore.
In the hybrid segment, the gross buying was of Rs 7.12 crore
against gross selling of Rs 9.04 crore. Thus, FIIs stood as net sellers of Rs
1.92 crore in hybrid segment.
Technically, the important key resistances are placed in Nifty future are at 24808 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 24939 – 25008 levels. Immediate support is placed at 24606 – 24474 levels.
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