Dear
Trader…
The markets began the calendar year on a positive note,
gaining nearly half a percent. After an initial decline, buying interest in
select heavyweight stocks across sectors quickly erased losses, gradually
pushing the index higher. As a result, the Nifty future reclaimed its long-term
moving average, the 200 DEMA, and ended at 23,897.85. Most sectors contributed
to this recovery, with auto and energy emerging as top performers. Similarly,
the broader indices followed suit, recording gains ranging from 0.4% to 1.05%.
The index has now entered its second week of consolidation,
and current indicators suggest that this trend is likely to persist. We
continue to advocate a stock-specific strategy, focusing on counters exhibiting
relatively stronger momentum. Besides pharma and healthcare, selective
opportunities are emerging in the FMCG and energy sectors, so traders should
position themselves accordingly.
Nifty futures opened at 23500 points against the previous
close of 23805 and opened at a low of 23500 points. Nifty Future closed with an
average movement of 464 points and a rise of around 92 points and 23897 points…!!
On the NSE, the midcap 100 index will rise 0.44% and smallcap 100 index is closing rise
1.20%. Speaking of various sectoral indices only,
Realty and Metal stocks were seen selling on the NSE, while all other sectoral
indices closed higher.
At the start of intra-day trading, February gold opened at
Rs.76772, fell from a high of Rs.76930 points to a low of Rs.76660 with a rise
of 10 points, a trend of around Rs.76903 and March Silver opened at Rs.87300,
fell from a high of Rs.87672 points to a low of Rs.87160 with a decline of 28 points,
a trend of around Rs.87550.
Meanwhile, The
FIIs as per Wednesday’s data were net sellers in both equity and debt segments,
according to data released by the NSDL. In equity segment, the gross buying was
of Rs 5279.90 crore against gross selling of Rs 10630.95 crore. Thus, FIIs
stood as net sellers of Rs 5351.05 crore in equities.
In the debt
segment, the gross purchase was of Rs 4074.79 crore with gross sales of Rs
8598.26 crore. Thus, FIIs stood as net sellers of Rs 4523.47 crore in debt. Of
the total debt, FIIs stood as net sellers in Debt-General Limit segment at Rs
472.58 crore, they stood at net sellers in Debt-VRR segment at Rs 6630.18
crore, while net buyers in Debt-FAR segment at Rs 2579.29 crore. In the hybrid
segment, the gross buying was of Rs 18.05 crore against gross selling of Rs
70.06 crore. Thus, FIIs stood as net sellers of Rs 52.01 crore in hybrid
segment.
Technically, the important key resistances are placed in Nifty future are at 23939 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 24008 – 24088 levels. Immediate support is placed at 23838 – 23808 levels.
Past Performance is not an Indicator of Future Returns. The securities quoted are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read Disclaimer and related all the documents carefully before investing, mentioned on www.nikhilbhatt.in
