Last close: 10574.45
On Monday (29th June) NiftyFuture was consolidated and settled at 10255. On Tuesday was seen violent movement made a high of 10343 and slipped up to 10185 then again went up to 10240.
On Wednesday and Thursday, NF was bounced from 10244 to 10581. On both days NF was climbed 1.6% and 1.3% respectively.
On Friday, NF was consolidated around 10550-10590 and finally weekly close settled at 10574.45.
NiftyFuture recorded its third consecutive week of gains. The NF closed with gains of 2.4% and Sensex 2.4% for the week ended July 03.
Mid-cap and Small-cap index was seen marginal gains 0.3% and 0.25%
FIIs net bought 5492 Crore worth of stocks in cash segment in month of June. But in last three session of July FIIs sold 1395 crore.
DIIs also bought 2434 Crore in cash segment in June month as well as they bought 1953 cr of July in last three sessions.
One more important thing. Nifty PE at 27.78 ended in July 3. Whenever Nifty came around 27-28 was seen crash. Recent example on Feb 1st week Nifty PE came around 27-28 then seen big crash. So take care.
Covid-19 cases increasing gradually. Case crossed 6.72 lakh in pan India, Recovered 4.08 lakhs and active cases are 2,45 lakh. Death almost 20k
However, The market could be supported by the increasing rate of recovery
World largest Japan’s pension fund loses $165 billion in worst quarter
US market was shut on Friday and Dow future has closed around 50-75 points lower at 25779
Europe market was seen under selling pressure on Friday. All index closed around 0.6% to 1.35% lower
IIP data for the month May will be releasing on 10th July
NiftyFuture trend decider of 2nd week of July month could be 10440 and 10690
The July series started with more than 3% gain so far. In last entire week bulls have dominated
Technical chart indicates and NF has formed bullish candle in last three sessions
As per NSE data Nifty50 PE at 27.78 ended on 03rd July. Which is overvalued
NF is facing a weekly resistance at 10690, If crossover and closes above the level
Finding a next resistance 10780 and 10880 which means 200 DMA.
NF can be considering a weekly support at 10440. Once if breaks closes below the level
Expecting more weakness and profit booking up to 10250 and 10155. Thereafter we see 10k mark.
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Updated : 10.19 AM / 05th July 2020