16th Oct 2020 #NiftyFuture Intraday Levels

NiftyFuture last close: 11685.55 (-2.5%)

NiftyFuture was fell nearly 300 points and Sensex fell more than 1000 points

On entire day bears have an upper hand

NF was sustained around 11950-11920 almost 2 hours then bears dominated and index was slipped up to 11663.20

NF was erased last 5 days rally in single day

The correction was triggered fading the hopes of further stimulus package in the USA

Fresh lock-down in Europe which added to weak sentiment in global

Market capitalization fell 3.3 lakh crore in single session. Rs 157.24 lakh crore on Oct 15

US Markets ended with lower on Thursday

Dow Jones fell 0.07%, S&P500 dropped 0.15% and Nasdaq lost 0.45%

Asian markets was seen selling pressure and set to lower opening

FIIs sold 604 crore worth of stocks in cash segment whereas DIIs sold 808 crore

SGXNifty indicate a flat opening for the index and likely to witness volatile trade will be expected during the day

On yesterday NiftyFuture formed a strong bearish candle in daily chart

Today NiftyFuture is facing a intraday resistance at 11710, 11730 and 11775

If stays above 11775…………. Then try to check next resistance at 11830

But………. Stay caution at higher levels!!

Today NF can be considering a supports 11655, 11625 and 11590

Below 11590……….. Expecting more pain!!

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Updated: 08.48 am / 16th Oct 2020