NiftyFuture Last Close: 13311.60
Bulls domination continues so far & Nifty at 11560 the dominance of the bull began
Nifty and Sensex created a history in the week ended Dec 4
Sensex surpassed above 45000 for the first time while the Nifty50 hit a fresh record high of 13280
Indices gained more than 2% in all sectors!!
On India side, RBI unchanged repo rate and growth forecast upwards by the RBI, FIIs pumped money in cash segment, Better than expected GDP data, Covid-19 active cased below 4 lakh and recovery rate above 94%
Industrial Production data, Inflation rate, and Manufacturing Production data will be released on coming Friday Dec 11
Rising hopes for new fiscal relief fund lifted sentiment at US markets. Lawmarkers need to pass the bill before the deadline of Dec 11 to avoid government shutdown
US markets ended record highs on Friday
FIIs continued to dominate the Indian’s market they bought Rs 10206 crore in first week of Dec while DIIs which continued booking profits. They sold over Rs 6090.52 crore in last week
Do you know ? FIIs net bought Rs 65317 crore in Nov month whereas DIIs net sold Rs 48319 crore
Coming week important event in global side, Japan GDP data on 08th Dec, China will be declaring inflation on 9th Dec, ECB interest rate decision and US jobless claims on 10th Dec.
NiftyFuture Trend Decider On Dec 2nd Week : 12960 and 13440
The market mood is positive bias but there could be consolidation range with volatility in the coming week
India volatility index was settled and down by 9% at 18.02, hence I did not expect huge volatility
NiftyFuture has formed a bullish candle on the daily as well as weekly chart
NiftyFuture is facing a weekly resistance at 13440, If crossover and closes above the level bulls domination will be continued up to 13540 and 13660
NF considering a minor supports 13190 and 13070
NF can be considered as weekly strong support as at 12960 which was placed at weekly low
However, positive bias should be maintained in the index above 12960
Buy if there is any declines with stop of 12960 closing basis!!
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Updated: 11.59 am / 06th Dec 2020
