NiftyFuture last close: 14771.30 (-1.3%)
Indian market slipped in the red for the fourth consecutive session in a row on Wednesday
NF was opened positive note only but unable to sustained opening gains
NiftyFuture was opened 14968 then slipped 14875 again went to 14981 then bears came with full power and index slipped 14721
Profit booking was seen in all sectors
Sensex closed below 50000 at 49801 while Nifty50 fell 189 points to 14721
Midcap and Small-cap index fell more than 1.5% respectively
Ahead of FOMC meeting the bank index fell for the third consecutive session
India VIX fell almost 4-5% but in last 1 hour came flat note
Last time RBI Governor told when Nifty around 12000 “It has nothing to do with the market and the economy” Nifty went to 15400 after he told
Now, He told ” Worst over, Economy will move only upwards What will react market on coming days ?
FED chairman told “The US economy is heading for its strongest growth in nearly 40 years and No rate hikes
Fed keeps rates near Zero and Dow Jones closed at record highs on Wednesday
Dow closed above 33000 for the first time
Asian markets were set for highest opening on Thursday
FIIs net bought 2625 crore while DIIs sold 562 crore in cash segment
SGXNifty indicate a gap up opening for the index and likely to witness volatile trade during the day
NiftyFuture was formed a strong bearish candle on a daily chart and continued its weakness for the consecutive four sessions
However, NF will open around 14900+
NiftyFuture is facing a intraday resistance 14870, 14930 and 14985
If stays above 14985……… will try to check 15050. But stay caution at higher levels
Huge OI was seen 15000CE, Maybe trouble for this one!!
Today NF can be considered as supports as 14800, 14765 and 14740 (yesterday’s low)
Below yesterday’s low………….. We see more blood bath
More live market update will be sent to my clients only
Updated: 08.56 am / 18th March 2021
