NiftyFuture last close: 11927.45
NiftyFuture after a strong start at 11951 then went up to 12016.85 but unable to hold above the level.
On last Saturday I did told in my Youtube video about NiftyFuture “Dalal street week ahead”
I told, NF weekly resistance around 12000-12030. On yesterday NF made a high of 12016.85 then seen sharp sell-off up to 11766.75. Almost 250 points wiped-out within 1 hr
In the afternoon index was recovered almost 150-175 points and index to close higher for the fourth consecutive session
Banking, Financials and Metals stocks supported the market
Reliance under selling pressure and stock broken 2100 level
Hdfcbank and Icicibank did very well in last two days
When our market slide US future was trading 200 points lower and Europe markets opened 1-2% lower
US markets ended lower on Wednesday
US stimulus bill will not be reached until US presidential elections
Dow Jones fell 98 points (-0.35%), S&P500 down -8 points (-0.22%) and Nasdaq -32 pts
FIIs net bought 2108 crore worth of stocks in cash segment whereas DIIs sold 1633 crore
Today NiftyFuture likely to witness huge volatile will be expected ahead of weekly expiry
On yesterday NF was attempted 5th time at 12000 level….. but again failed to close above 12000.
NiftyFuture was formed in daily chart “Hanging Man” pattern and was seen very tough fight for bulls and bears around 12000
Let’s see today’s levels………… NiftyFuture is facing a intraday resistance at 11950, 11980 and 12030
Above 2nd and 3rd resistance are very crucial for today’s trade
Suppose, If crossover 12030 and manages above the level……. We see all round short covering
Today NF can be considered as supports as 11900, 11880 and 11850
Below 11850……….. Will try to check next support around 11800-11760
More live market update will be sent to my clients only
Updated: 08.05 am / 22nd Oct 2020
