31st March 2020 #NiftyFuture Intraday Levels

NiftyFuture last close : 8290.15 (-4.20%)

NiftyFuturue saw a another weak session, Index fell 4.2%

In last hour, NF has slipped almost 250 points.

Financial stocks has seen strong selling pressure, HDFC, Bajfinance, Hdfcbank, and Kotakbank

India VIX index closed at 72 up 2%

On the Option side, Premium was eroded in both CE and PE options

FII net sell 967 Cr in Index Future. OI +18728 contracts

FII net buy 481 Cr in Index options. OI +23837 contracts

FIIs net buy 2012 Cr in Stock future. OI +24920 contracts

FIIs sold 4363 Cr worth of stocks in cash segment whereas DIIs bought 3550 Cr

On global side, US market bounced from two days declined, Dow gained 700 points

Oil prices continue to be under pressure, Brent prices at 25 year’s low

Asian markets opened in the green mark, China has opened all industrial

Australia, South Korea and Japan indices seeing over 2% higher

On Virus side, US cases are up normal, Italy and Spain deaths around 750-800 on Yesterday

In India virus case are under control.

Nifty was worst month since 2008

Today NiftyFuture is expected to open with a positive note and likely to witness volatile trade during the day.

NiftyFuture is facing a intraday resistance at 8400 and 8520

If crossover 8520 with volumes, Finding a next resistance at 8650-8750

Today NF can be considered as supports as 8250, 8180 and 8050

Don’t short at lower levels!!

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Updated : 08.25 AM / 31st March 2020