NiftyFuture last close: 9791 (+3.1%)
The NiftyFuture has started the month of June on strong rally and closed sharply higher note
Fourth consecutive strong session and seen on yesterday’s trade some profit booking at higher levels
NF has closed around 9800 but failed to sustain above 9900, which resulted formed hanging man pattern on daily charts
NF was rallied nearly 850 points or 9% from last four sessions which indicated that’s Bull’s power
NF was opened at 9700 (Gap up 250 points) and gradually extended rally to hit intraday high of 9911.65 on afternoon, But witnesses some profit booking at higher levels. Finally the NF settled at 9791.
NF and BNF added heavy long positions as the index trended higher along with a rise in th OI
US indices closed with gains at 90 points higher and Nasdaq added 62 points higher
Asian markets are set to under pressure as US protests in Major cities
Moody’s downgreaded India’s rating to BAA3 and maintains negative outlook
FIIs bought 1575 cr worth of stocks in cash segment whereas DIIs sold 459 Cr
While updating SGXNifty were trading at flattish note followed by NF will open flat
Today NiftyFuture is facing a intraday resistance at 9840, 9875 and 9920
Yesterday NF chart has formed hanging man pattern. As per chart NF heading at 9920
If crossover and manages above the level……… Will try to check 9960+
(Note : NF if closes above 9900…….. Ultimate Target 10200+)
Today NF can be considered as supports as 9760, 9735 and 9700
Below 9700 and holds below the level, Finding a next support around 9630
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Updated : 08.01 AM / 02nd June 2020
