NiftyFuture last close: 10905.05 (+1.8%)
NiftyFuture was seen huge short covering in last 1 hour on Friday
Reliance and Hdfcbank both helped to lift index
Finally NF has broken 200 DMA and closed above the level. Looks positive sign
After long time index came premium. NF closed with a premium of 4 points
US markets ended higher on Friday. As investors expecting more fiscal stimulus packages against fears of further business disruptions due to Covid-19
Dow Jones fell 0.23%, S&P500 gained 0.30% and Nasdaq climbed 0.28%
Asian markets turned to flat opening to negative zone
Dow and European future are down almost 1% to 1.5%
IMF reported US economy faces significant risks will take long time to recover
FIIs bought 697 crore in cash segment whereas DIIs sold 209 crore
FPI (Foreign Portfolio Investors) net sold 9015 crore in Indian equity market in July so far
This week NiftyFuture Trend Decider 11000 and 10580
SGXNifty indicates a negative opening for the Indian equities and likely to witness volatility will be expected during the day
Today NiftyFuture is facing a intraday resistance at 10920, 10945 and 10970
If breaks and manages above 10970 finding a next resistance around 11010-11030
Today NF considering a supports 10875, 10850 and 10800
Below 10800 and holds below 15 minutes……. Expecting more pain
But………Buy at declines and keep a stop of 10800
More live market update will be sent to my clients only
Updated: 08.52 am / 20th July 2020
