NiftyFuture last close: 10696.30
NiftyFuture snapped a five days winning streak and closed in the red market
NF was opened at 10800 then slowly dropped up to 10765 again went and made a high of 10828.70.
Last one hour NF was dropped from 10828 to 10675 and ended at 10683.75 with losses of 95 points
On noon session I did written in my blog, NF is facing a resistance around 10835.
Not able to cross my resistance zone
I did mentioned in last few days NF will face very strong resistance around 200 DMA 10890
Already Indian market was seen at overbought mode like overvalued.
Action was seen in IT, Banking, Finance, Metals and FMCG was visible for profit booking
FIIs and DIIs both sold in cash segment. FII sold 994 Crore worth of stocks in cash segment whereas DIIs also sold 853 Crore
FIIs bought 1002 Crore in Index future despite of index fell almost 150 points from day’s high
As per NSE data, FIIs having 60% long and DIIs 60% short in Index future
US markets ended at higher levels, Dow Jones climbed 177 points, Nasdaq added 149 points
Asian markets are edge up side, Nikkei added 0.15%, Hong Kong index rose around 1%
SGXNifty indicate a positive opening like 30-50 points higher, Likely to witness volatile trade will be expected during the day
Today NiftyFuture is facing a intraday resistance at 10740 and 10785
If crossover 10785 and manages above the level, Will try to move 10830.
But stay caution at higher level……….
(Anyone want to create shorts……..Sell on higher levels and keep a closing basis stop of 10930 for positional and target of 10350-10450)
Today NF can be considered as supports as 10690-10675 and 10650
Below 10650…….. Will try to check 10605 and………?
More live market update will send to my clients only
Updated : 08.46 am / 09th July 2020