Dalal Street Week Ahead December 1st Week

NiftyFuture last close: 13017.40

On last week NiftyFuture was some volatility and rangebound trade was seen although the Nifty hit 13000 and closed above the level

Nifty gained 0.85%, Sensex rallied 0.7% to close at 44180 during the week

Significant movement was seen Nifty Midcap index rallied 4% and Smallcap index rocked 6.2%

After market hours GDP date came -7.5% which was better than expected

 FIIs has pumped Rs 19064 crore in cash segment while DIIs has unwinding Rs 15674 crore in last week

Something went wrong in last Friday after 3 pm trade like all largecap stocks was fell almost intraday high to low like 2-3%. Britannia, Itc, Nestle, Hul, Tatamotors, Heromotoco, Colpal and Asianpaints

The market will first react to Q2 GDP data which at -7.5%

 While updating SGXNifty were trading around 12900 down 130-150 points due to global market seems selling pressure

Maruti, Heromotoco, Escorts, M&M, Ashokley, Eicher and Bajajauto will be focus on Tuesday as monthly volume sales data for Nov will be released by the company

RBI will be declaring interest rate decision on 04 Dec at 11.45 am.

I am expecting RBL to  hold the Cash Reserve Ratio and Reverse Repo Rates

Covid-19 recovery rate has stood at 98.7% and the active cases stood at 4.50 lakh

I think India remanins in a better position compared to the western world which has seen a sharp increase in infections in the second wave

NiftyFuture trend decider for Nov 1st week 12730 and 13140

NiftyFuture was formed small-bodied bearish candle on Friday and bulls strength was seen decreased compared to last week strength

This week NF facing a weekly resistance at 13140 which was placed at last week high

If crossover the level and closes above the level…….. Expecting next resistance 13370

But, I am expecting profit booking zone around 13000-13200

NF can be considered as weekly support at 12730 which has been placed at 10 days support

If breaks and manages below the level……….. Will try to check next support 12600 and 12500

Maybe bears will be dominate until 12500-12600

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Updated: 11.17 am / 30th Nov 2020