Month: July 2020

Niftyfuture seems struggle amid broad-based selling pressure

Dow future down 250 points, Hangseng dropped 650 points & Europe fut almost 0.5% lost

While updating NF were trading at 10705, marked a high of 10805

Morning I did mention in my blog “NiftyFuture below 10750 next support 10660-10700”

Now, NiftyFuture considering a strong support around 10650-10660 which is NF bounced twice a time in this week

If fails to take support around 10650………. Expecting more weakness and bears will be dominate below the level.

Closely watch @ 10650

Updated : 12.34 pm / 10th July 2020

NiftyFuture last close: 10823.55 (+1.2%)

Yesterday NiftyFuture was moved higher on last one hour

Day before yesterday NF was moved lower side on last one hour……. Something happened in last one hour trade!! Take care

Yesterday NF made a low of 10712.80 then spiked up to 10844.95 and ended at 10823

Just 4 stocks to managed index at higher levels like Reliance, Hdfcbank, Bajfinance and Tcs.

Yesterday Reliance supported to index climbing!!

TCS Q1 profit falls 13% QoQ to Rs 7008 crore and Revenue declined 4.1%

US markets dropped on July 09th. Dow Jones fell 290 points (1.12%), S&P 500 lost 12 points and Nasdaq added 69 points

Asian market were set to trading around lower levels

Hang Seng index fell 0.9%, and Nikkei trading at flattish note

FIIs bought 212 crore worth of stocks in cash segment whereas DIIs sold 803 cr

SGXNifty indicate a negative opening and likely to witness sideways trade will be expected during the day.

Today NiftyFuture is facing a intraday resistance 10845, 10860 and 10900

Already I did mention……..200 DMA around 10900 if crosses and closes above the level

Expecting more bullish trend up to 11200……. If you having shorts keep stop of 10930 closing basis.

Today NF can be considered as supports as 10810, 10785 and 10750

Below 10750……. Finding a next support around 10700-10660 (weekly support)

More live market update will be sent to my clients only

Updated : 08.48 am / 10th July 2020

NiftyFuture last close: 10696.30

 NiftyFuture snapped a five days winning streak and closed in the red market

NF was opened at 10800 then slowly dropped up to 10765 again went and made a high of 10828.70.

Last one hour NF was dropped from 10828 to 10675 and ended at 10683.75 with losses of 95 points

On noon session I did written in my blog, NF is facing a resistance around 10835.

Not able to cross my resistance zone

I did mentioned in last few days NF will face very strong resistance around 200 DMA 10890

Already Indian market was seen at overbought mode like overvalued.

Action was seen in IT, Banking, Finance, Metals and FMCG was visible for profit booking

FIIs and DIIs both sold in cash segment. FII sold 994 Crore worth of stocks in cash segment whereas DIIs also sold 853 Crore

FIIs bought 1002 Crore in Index future despite of index fell almost 150 points from day’s high

As per NSE data, FIIs having 60% long and DIIs 60% short in Index future

US markets ended at higher levels, Dow Jones climbed 177 points, Nasdaq added 149 points

Asian markets are edge up side, Nikkei added 0.15%, Hong Kong index rose around 1%

SGXNifty indicate a positive opening like 30-50 points higher, Likely to witness volatile trade will be expected during the day

Today NiftyFuture is facing a intraday resistance at 10740 and 10785

If crossover 10785 and manages above the level, Will try to move 10830.

But stay caution at higher level……….

(Anyone want to create shorts……..Sell on higher levels and keep a closing basis stop of 10930 for positional and target of 10350-10450)

Today NF can be considered as supports as 10690-10675 and 10650

Below 10650…….. Will try to check 10605 and………?

More live market update will send to my clients only

Updated : 08.46 am / 09th July 2020