Dalal Street Week Ahead: 1st Week Of September

NiftyFuture last close: 11675.20 (+1%)

During the last week, NiftyFuture managed and closed above 11650 mark which was higher then Feb 28th closing

In a mean time Banknifty index was gained almost 10%

Nifty Midcap and Smallcap indices continue to higher and rising 2.3%, 3.7% respectively

Overall the last week was seen bulls have dominated on entire week ahead of strong global sentiment and FII’s money

Market still going to non stop after the RBI governor spoken about bad opinion of economic and market surging

Covid-19 infections crossed 35 lakhs with over 63000 deaths and active cases are 7.5 lakh only

The current recovery rate stood at over 73%

For the first time India crossed the mark of 70,000 infections in a day

GDP date will be releasing on Monday post market hours it will effect on Tuesday’s trade

Auto sales date will be released on first of September and expecting improve from the last month

2nd Sept hearing on moratorium and interest waive off in SC

Maybe AGR verdict judgement on 3rd Sept. Hence the 3 big events is there in coming week

FIIs still showing power and they bought in cash segment entire August month except 2 days

They bought 19145 crore worth of stocks in cash segment whereas DIIs sold 11727 crore

Centre has announced 4th lock-down relaxation it will helped to economic boost

Above average rainfall is major benefit for economic

NiftyFuture has closed the week higher by 2.4% up for the second consecutive week and market ended higher on all five trading days

NiftyFuture has closed with a strong bull candle on 28th Aug and rally will be continued up to 11780.

Index if breaks and manages above 11780 then will move up to 11850 and 11970 which was gap down top on 24th Feb.

NF considering a weekly supports around 11400-11450. If manages below 11400

Then will take next strong support around 11250…….

Suppose if comes above support zone can buy and hold

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Updated: 10.08 am / 30th Aug 2020