31st July 2020 #NiftyFuture Intraday Levels

NiftyFuture July last close: 11108

August last close: 11093.40

As expected NiftyFuture was seen sharp profit booing on the July series expiry day

NF was opened at 11253 and went up to 11290.95 then sustained around 11260 almost 2 hours

After 12 pm, Bears have dominated and Nifty dropped vertically up to 11078.20.

I did mention in pre-market report on my blog. “NF if breaks 11170 expecting long unwinding up to 11090”

What happened on yesterday?? NF followed what I did mention

 In July month NF low was 10156 on 29th June and went up to 11343.40 on 29th July. The rally of almost 9% almost a month.

The Nifty July expiry rollover is at 77.59% on Thursday compared to 78.93% on same day of previous expiry

The Market wide July expiry rollover is at 88.13% on Thursday as compared to 89.97% on same day of previous expiry

Yesterday Pharma stocks was seen good rally like Divislab, Sunpharma, Lupin and Aurophrma

While the profit booking was visible in the Oil, Telecom, and banking stocks

Reliance Jio reported a net profit of Rs 2520 crore for the June 2020 Vs 891 crore in same quarter

Reliance profits beats estimates and Profit rose 31% YoY

US economy shrinks at record 32.9% its sharpest downturn since at least the 1940s

Trump says ” Possibility of delaying the U.S presidential election

Dow Jones fell 225 points , S&P500 lost 13 points and Nasdaq added 45 points

Asian markets were set to rise on Friday’s trade Nikkei added 0.35% and Hangseng gain 0.3%

Today’s result stocks are, SBIN, Tatamotors, Sunpharma, IOC, UPL

FIIs bought 207 crore worth of stocks in cash segment whereas DIIs sold 387 crore

Today NiftyFuture is facing a intraday resistance at 11120, 11145 and 11180

Once if breaks and manages above 11180 will try to move 11240

In last 8 sessions NF was struggled around 11050 to 11300. Hence stay caution at higher levels!!

Today NF can be considered as supports as 11085 and 11050

Once if breaks and holds below 11050……. Finding a next support around 11000 and 10960………… Thereafter………..??

More live market update will send to my clients only

Updated: 08.48 am / 31st July 2020