16th Sept 2020 #NiftyFuture Intraday Levels

NiftyFuture last close: 11527.40 (+0.7%)

NiftyFuture was closed higher levels on Tuesday’s trade

Index opened at 11473 and made a low of 11451.90 then spiked up to 11542.25

On Monday IT stocks was performed and yesterday Pharma stocks did well

Suppose, Banking stock if perform well on coming days……. Nifty retest recent high

Many bank stocks was underperform like Hdfcbank, Icicibank, Axisbank and Sbin

FMCG stocks did not well in last more than two month likes ITC, HUL, and Nestle

Something cooking FMCG stocks……….

US markets rose on Tuesday’s trade hoped the FED would stick supportive policy

Dow Jones closed at flat and Nasdaq gained 133 points or 1.21%

Asian markets were set for a mixed open on Wednesday as investors awaited the FED view

A govt panel recommended that LTCG from investment in startups should be abolished atleast for the next two years

FIIs net bought 1170 crore worth of stocks in cash segment whereas DIIs sold 895 crore

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

Today NiftyFuture is facing a intraday resistance at 11535, 11555 and 11585

Index facing strong resistance until 11600……..which was placed almost two week’s high

Today NF considering a supports 11500 and 11470

Below 11470 and manages below the level…….. Finding a next support around 11425

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Updated: 08.53 am / 16th Sept 2020