Dalal Street Week Ahead: #NiftyFuture Trend Decider For 3rd Week Of Feb

NiftyFuture last close: 15161.45

After the big move in previous week, market witnessed consolidation in the last week

However, Nifty hit a fresh record high and gained 1.6% in week ended 12 Feb

Sensex was rallied 812 points to 51544 and Midcap index rose 2 % while Smallcap index up 3.80%

India VIX fell more than 8% in last week, Its good for option writers

The major of the corporate earnings report is out  of the way and supported to lift the markets

FIIs continued to pumped money into Indian markets, FIIs net bought 19466.41 crore value of stocks in cash segment Feb so far

On other hand DIIs continued to profit booking they net sold 10354 crore in mean time

The Wholesale Price Inflation data for Jan will be released on Monday

Brent crude closed above $62 a barrel, Negative news for Indian equities

On coming week Nestle, Ambujacem, Jetairways and BinaniInd will be declaring earnings report

Two IPO will open on coming week, Nureca will open on Feb 15, price band for the offer has been fixed at Rs 396-400 per share

RailTel corporation of India will open for subscription of Feb 16, The price is fixed at Rs 93-94 per share and offer will close on Feb 18

Brookfield maybe will list on Feb 17

NiftyFuture Trend Decider For The 3rd Week Of Feb: 14985 and 15265

NiftyFuture has formed a small bodied bullish candle on weekly charts which indicates consolidation with up trend

As per my technical charts says, NiftyFuture is facing a weekly resistance at 15265 which was last high swing high.

Once if breaks and closes above the level further rally will be expected up to 15370 and 15500. Advise to all book profits if NiftyFuture enters this last resistance zone.

On the other side, NF considering a weekly support at 14985, Once if breaks and closes below the level…….expecting more profit booking up to 14850, 14720 and 14600

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Updated: 10.06 am / 14th Feb 2021