NiftyFuture last close : 9138.25
On Monday NiftyFuture (hereafter mentioned NF) was opened higher level 9385 then fell up to 9215. Closed with 50 points down.
On Tuesday, NF has opened more then 220 points gap down, The news was US crude fell -37$, Trump singed to ban immigration, and Kim jong un at critical condition. NF ended 290 points down.
On Wednesday, NF has opened 50 points gap up and gradually went up side at 9219. Facebook bought 9.9% stake in Jio cost around 45000 Crore and RIL gained 11%.
On Thursday, NF opened 100 points gap up followed by global market. NF went up to 9328 then fell around 9290. NF gained 110 points
On Friday, NF has opened gap down 100 points at 9160 then went up to 9260 again fell and closed at 9138. Net fall 160 points.
NF has closed with a loss after rallying in the previous two week. Net loss was 173 points. Last week I did mention NF has formed hanging men chart. Till NF unable to cross 9385 mark.
NF attempted four times at 9330-9380 but not sustained once if came that level seen strong selling pressure!!
US markets has closed at green 260 points but Europe markets closed red mark around 1.5%
In India virus case increased 26000, recovered around 6000 and active case 19000
Maharastra seems worst condition, Cases climbs 7500 and recovered figure also low
Maybe lock-down will be extended worst affected states up to May 18th or 19th
Anytime industries stimulus package will release.
Coming week major result stocks are Monday Indusindbank, Tuesday Axisbank, and Thursday HUL and Techm will be declaring results.
NiftyFuture weekly trend decider 9385 and 8900
On the daily chart, NF has been consolidating within a range for the last 10 days
NF facing a weekly resistance 9300-9400. Very strong and crucial resistance zone
If all is well and any big positive news if comes, NF once if crossed 9400 and closes above the level, Further rally will be expected up to 9600, 9875 and 10080.
Suppose if again bears will dominate, NF will retest around 8900 and 8835
Last hope and strong support zone around 8835. Thereafter ?? Will be updated.
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Updated : 11.50 AM / 26th April 2020
