NiftyFuture last close: 10572.45
On Friday NiftyFuture was seen sideways trade around 10550-10590 and finally settled at 10572. Index 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.
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.
Nifty PE at 27.78 ended in July 3. Its overvalued right now.
NiftyFuture still 35 points discount is there…….. So seems huge shorts and expecting rally
Asian markets are near by four month high. Nikkei added 300 points (+1.3%) higher, Hangseng gain 590 points and China market climbed 3.5%
While updating Dow Future gains 350 points and SGXNifty were up 75-100 points higher.
SGXNifty indicate a positive opening for the index around 75-100 points
Today NiftyFuture is facing a intraday resistance at 10625 and 10650
Once if breaks and manages above 10650. Finding a next resistance around 10690-10725…………Thereafter 10760.
Whenever discount is narrowed (Now 35 points there)……… Stay caution!!
Today NF can be considered as support 10560 (Friday’s low)
If stays below the level…… Finding a next supports 10520 and 10480
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Updated : 08.47 AM / 06th July 2020
