Dalal Street Weak Ahead: #NiftyFuture Trend Decider For 4th Week Of April

NiftyFuture last close: 14645.70 

On last Monday index was fell more than 3.5% and bounced-back from around 100 DMA at 14280 and NF was closed at 14645 which was almost last Monday’s opened level

The market fell for the second consecutive week amid investors worries about over economic and many states increased restrictions to control the spread of Covid-19

The week ended, Sensex declined 760 points to close at 48832 and the Nifty50 dropped 217 points to 14617

More profit booking was seen smallcap and midcap index was fell 2.90% and 2.7% respectively

Buying action visible in pharma stocks only and other sectors was seen selling pressure

Banking stocks continues to seems under selling pressure

Major IT giant company has declared (INFY and TCS) below estimation earnings report and street was punished. However, WIPRO has declared handsome report

The market will first react to HDFCBANK’s March quarter earnings. The company announced report on April 17

The company reported an 18.2% YoY growth and its standalone profit at Rs 8186.5 crore for the ended March 2021 and GNPA up 1.32%. Profit came below expectation and NPA increased sharply. In my view the result is not good.

On coming week below companies will release their quarterly earnings. Hcltech, Nestle, Acc, Tataelxsi, M&MFin and Icicibank

FIIs have turned to net sellers in the month of April. They have net sold Rs 2598 crore worth of stocks this month so far

On other side, DIIs continued to be support to markets and they bought Rs 1736 crore

The Big worries is the second wave of Covid-19 cases. India reported more than 2.5 lakh new cases on April 17 for the last 24 hrs. Many states tighten the restrictions

Macrotech Developers (Lodha Developers) will list its equity shares on April 19. The issue price fixed at Rs 486 per share. In the grey market stock price traded more than 5% premium.

NiftyFuture Trend Decider For The April 4th Week at 14735 and 14340

This week also just 4 trading sessions are there. On 21st April holiday due to Ram Navami

The NiftyFuture has formed small bodied bullish candle on daily scale and formed doji kind of pattern in weekly scale which was indicated hammer kind of pattern (Like sell on rise)

On last week NF was took strong bounce back from 100 DMA around 14250 and closed at 14645

Now, NF is facing a weekly resistance at 14735. Once if breaks and closes above the level, further rally will be expected up to 14880 and 15030

On other hand, NF can be considered as weekly supports as 14340 which is placed at 100 DMA. If not closes below the level……….no problem for bulls

Suppose, If breaks and closes below 14340………..Expecting more weakness up to 14200 and 14000. But as per technical chart lesson in last 2 months “don’t sell at very lower levels”

I fell the volatility could continue in coming sessions and trade with technical!!

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Updated: 11.12 am / 18th April 2021

16th April 2021 #NiftyFuture Intraday Levels and Pre-Market Report

NiftyFuture last close: 14592 (+0.3%)

As usual NiftyFuture was seen volatile day on 15th April and Bulls managed to regain control

NF was opened 14574 then dropped and made a low of 14374 then shot up to 14615

Absolutely index was formed V shape

The Sensex rose 259 points to 48803 and the Nifty50 gained 77 points to 14581

The Delhi Govt imposed a weekend curfew in the national capital to control the Covid-19

Sector wise buying was seen power, energy, banks and metals profit booking visible auto stocks

Tighter restrictions in Maharastra, Delhi, and Rajasthan further added to the jitters

Wipro announced good qtr result and ADR was up more than 7%

Today Mindtree will release quarterly numbers on April 16

China GDP came with inline expectation

Global, FIIs buying figure in cash segment, F&O long buildup are also good sentiment

But…The only negative sentiment is virus surging and crossed 2 lakh infections per day

US markets ended record highs on Thursday

S&P500 rose 45 points, Nasdaq added 180 points and Dow Jones gained 305 points

Asian markets followed by US markets

FIIs net bought 979 crore while DIIs sold 525 crore in cash segment

SGXNifty indicate a flat opening for the index

NiftyFuture has formed a bullish candle and index closed above the opening price which was indicated declines were being bought

NF is facing a intraday resistance 14630, 14655 and 14690 which was placed at Monday’s high

If sustains above 14690…… We see more power

Today NF can be considered as supports as 14560, 14530 and 14490

Below 14490………. Try to check 14440……….. But don’t short at very lower levels!!

More live market update will be sent to my clients only

Updated: 08.48 am / 16th April 2021

16th April 2021 #BankniftyFuture Intraday Levels and Pre-market Report

BankniftyFuture last close: 32206.95 (+1.1%)

BankniftyFuture was seen extremely volatile on April 15 due to weekly expiry

BNF was opened 31950 and went to 32220 then dropped  and made a low of 31450 again spiked up to 32294. Almost 1400-1600 points movements

BNF was recovered almost 1600 points from Monday’s low to yesterday’s close

PSU banks sustains at marginal higher

HDFCBank set to declare earnings report on April 17

Icicibank will declare on next week

BankniftyFuture was formed a small bodied bullish candle on a daily scale and closed above weekly high but not break last week close 32600

Let’s see, BNF is facing a intraday resistance 32360, 32450 and 32650 which was placed at last week closed

If stays above 32650……… expecting further rally and some relax.

(HDFCBank if declare good report on tomorrow……… BNF rally will be expected 34k for next week)

BNF can be considered as supports as 32050, 31920 and 31800

Don’t short at very lower levels!!

More live market update will be sent to my clients only

Updated: 08.29 am / 16th April 2021

16th April 2021 Hot Stocks and Stocks To Watch

Last close: 430.70 (+2.8%)

WIPRO reported strong earnings on yesterday post market hours

Company said the fourth quarter was its best in the last 10 years and consolidated profit was at Rs 2972.3 crore. Revenue at Rs 16334 crore for the qtr

Overall…….. beat street expectations but not big figure

However, Stock if sustains above 435, rally will be expected 448, 452, 460 and 467

Supports 430, 422 and 415……… If there is any declines can buy

Last close: 1129.95 (+2.1%)

ADANIENT was seen dead cat bounced stock

Stock looks good and if there is any declines seems buying chance

Until 1050 closing basis!!

Steel stocks looks very hot especially Tatasteel, JSWsteel, Jindalstl and Sail

This week low is very strong support and expecting recent high!!

Updated: 08.14 am / 16th April 2021

#BankniftyFuture noon update. Finding a support around 31400-31450. If fail ?

What a volatility……….. Ooops!!

BNF  opened 31950 and went to 32210 again slipped to 31450. While I writing this update BNF were trading @ 31550

Till now BNF moved almost 800 points volatility

Option premium is too high and VIX up 5%

Current straddle 31500 pair trading around 370 (CE and PE both)

31000PE now trading around 60. This is to much of premium. Still 500 points away

Now, BNF now considering a support around 31400-31450

If breaks and manages below 31400………. then expect more weakness up to 31230 and 31000

Suppose if takes support around 31450………. Will check 31770 and 32000

Updated: 11.37 am / 15th April 2021