NiftyFuture last close: 14578.45 (-3.5%)
Indian equity market witnessed strong profit booking in the second part of the week due to geopolitical tensions, rising bong yields, and rising Covid-19 virus cases
The Sensex fell 3.5% and Nifty50 declined 3% for the week ended Feb 26 while Small-cap index gained 1.4% and Midcap index dropped 0.3%
On Friday, NF was opened at 14948 then slipped up to 14521.65 and finally settled at 14578
NF was broken strong support 14630 and closed below the level
On 26th Feb game changer day and was seen all round selling pressure Nifty and Sensex dropped more than 3.5% while Bank index fell more than 4.5% in single day
Especially Financial stocks, Private banks, and PSU banks fell up to 5% on 26th Feb
The highest points declined in Indian indices since the 4th May 2020
VIX index slipped 2-3% but option premium is too high
US markets ended lower on Friday. Dow down 470 points and Nasdaq added 73 points
Asian markets were set to higher levels
FIIs sold 8295 crore in cash segment while DIIs bought 1500 crore
SGXNifty indicate a gap up opening for the index and likely to witness volatile trade will be expected during the day
NiftyFuture Trend Decider For The 1st Week Of March: 14480 and 15000
NiftyFuture has formed a strong bearish candle on daily charts as well as weekly chart
Today NF is facing a intraday resistance 14630, 14660 and 14720
If crossover and stays above 14720……… will try to move 14800
Stay caution at higher levels and can sell on rise
Today NF considering a supports 14560 and 14520 (Friday’s low)
Thereafter expecting further weakness up to 14460 and 14400
Don’t short at very lower levels!!
More live market update will be sent to my clients only
Updated: 08.47 am / 01st March 2021
