NiftyFuture last close: 16969.35 (-1.5%)
What a Terrific Tuesday!!
NiftyFuture was opened 17275 and consolidated around 17200 to 17300 until 2 pm
After 2 pm, Bears was entered with full power and index slipped more than 400 points
NF slipped to 16843.30 from 17300 in last 1 hour
Huge selling seen by yesterday’s market
Actual NF was ended 16870 but average close was at 16970
The final tally was Sensex fell 700 points while Nifty50 dropped 200 points
All index slipped 1% to 4%
IT index underperform in last one week
IMF cuts India’s GDP growth forecast by 80 bps to 8.2% for FY 2023
Oil prices rise 1% to $108 a barrel
Inflation “clear and present” danger for many countries, says IMF
Today result stocks Glenmarklife science, Tataelxsi
FIIs net sold 5871 crore while DIIs net bought 3980 crore
VIX spiked 5% to ended around 20
But, Option premium was seen lower
Tatapower is under F&O ban for April 20
US markets surged on Tuesday
Dow rose 1.45% while Nasdaq ended 2.15% higher
Asian markets were set to mixed in Wednesday’s early trade
SGXNifty indicates a positive opening for the index
But, execting selling pressure at opening bell and volatile will be expected during the day
Open interest indicating 17200CE added more OI and PE side there is no significant OI. Which was indicated sell on rise
However, NF is facing a intraday resistance 17020, 17060 and 17100
Above resistance are hurdle and crucial levels!!
Suppose if stays above 17100 wil try to check 17180 next resistance
On flip side, NF can be considered as supports as 16880 and 16840
Below 16840, will try to check 16770 and 16720
Updated: 08.44 am / 20th April 2022
