NiftyFuture last close: 14577.05 (-1.3%)
NiftyFuture was opened strong gains on 18 March. But unable to sustained at higher levels.
NF was opened 14868 and went to 14900 then slipped 14506.50 and finally closed at 14604
In last 2 hrs NF was slipped from 14750 to 14500 then went to 14600. Almost 350 points movement
US bond yields spiked and bears took control in Indian equities
The US 10 yer treasury yields rose to 1.74% their highest since Jan 2020
Sensex fell 585 points to 49216 while Nifty50 closed 163 points lower to 14557
Midcap index fell 1.3% while Small cap index was down 1.55%
On US side, Fed chairman Dovish comments on the strong economic bounce back but unable to support to markets
Indian volatility index fell more than 5% in first half then second session came up to flat
US markets ended sharply lower on Thursday
Dow Jones fell 0.46%, S&P500 lost 1.48% and Nasdaq dropped more than 3%
Asian markets were set to lower opening on Friday as a spike in global bond yield spikes
Brent crude dropped more than 5% and fell fifth day in a row on Thursday
Brent crude fell $2.65 to $65.35 a barrel
FIIs net bought 1258 crore in cash segment while DIIs sold 1116 crore
NiftyFuture was formed a strong bearish candle on a daily chart and formed higher lows which was indicated sell on rise mode
US 10 year yield hitting its highest level in a over a year and bears held the upper hand on March 18, 2021
SGXNifty indicate negative opening for the index
Today NiftyFuture can be considered as supports as 14500-14520
If breaks and manages below 14500………. Bears action will be expected up to 14440, 14400 and 14340
(Note : NiftyFuture if closes below 14500 ultimate target 13600-13700. I am very bearish Nifty at the level of 14900-15000)
If there is any rally likes 14600, 14650 and 14730……….. Sell Sell Sell
Don’t think to buy at higher levels!!
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Updated: 08.59 am / 19th March 2021