NiftyFuture Sept last close: 10811.20 (-3%)
Oct last close: 10836.20 (-2.9%)
NiftyFuture was corrected for the sixth consecutive session on Sept 24
Index fell vertically up to 10820 in Oct series and Oct series closed with premium of 19 points
Sensex plunged 1115 points or 2.96% and Nifty fell 327 points or 2.93%
Nifty was took 38 sessions from 10800 to 11600 but just 5 sessions Nifty fell 11600 to 10800
All sectoral indices closed in the deep red with Bank, IT, Metal, Auto and Pharma fell in the range of 3-5%
While Mid-cap and Small-cap index declined over 2.5% each
The Nifty Sep expiry rollover is at 70.63% on Thursday compared to 79.92% on same day of previous expiry.
The Market wide Sep expiry rollover is at 92.67% on Thursday as compared to 88.13% on same day of previous expiry
The Nifty Sep rollover is lower than its Three months average of 78.82% and its six months average of 74.25%
Last week in my “Dalal Street Week Ahead” I have mention NF strong support at 11200 below the level expecting further weakness!!
On Monday and Tuesday I did written boldly in my blog “Nifty below 11185 turned to bearish”
In last three sessions FIIs was seen huge selling in cash segment
On yesterday they sold 1885 crore worth of stocks in cash segment whereas DIIs bought 188 crore
After long time FIIs turned to short mode in index future
SGXNifty indicate a positive opening for the index and likely to witness volatile trade will be expected during the day
Today NiftyFuture is facing a intraday resistance 10870, 10910 and 10965
Once if breaks and manages above 10965………. Will try to check 11040
But, Stay caution at higher levels!!………
Today NF considering a supports 10800 and 10750 which placed at 200 DMA
If breaks and manages below 10750…………. Further selling pressure will be expected up to 10660-10620
More live market update will be sent to my clients only
Updated: 08.51 am / 25th Sept 2020
