Dalal Street Week Ahead: #NiftyFuture Trend Decider For April 5th Week

NiftyFuture last close: 14338.60

The Indian equities remained under selling pressure throughout the week ended April 23

For the week Nifty50 declined 276 points or 1.89% to close at 14341 while the Sensex dropped 954 points or 1.95% to finish at 47878

Largecap index shed nearly 2%, Midcap index fell almost 1%, Nifty realty index dropped 3.5% and Smallcap index closed at flat

Investors were worried about the second wave of Covid-19 and partial lock-down are restrictions being announced many states

Global wise sentiment was looks positive but in Indian sentiment looks very bearish

Indian rupee rose against the US dollar it ended higher by 34 paise at 75.01 per dollar on 23 April

In the week gone by, FIIs sold Rs 4986 crore worth of stocks in cash segment while DIIs bought Rs 6224 crore

In the month gone by, FIIs sold Rs 7583 crore worth of stocks in cash segment while DIIs net bought Rs 7960 crore

On coming week following company were set to declare earnings reports on Monday Hdfclife and Techm. On Tuesday Axisbank, Bajfinance, Maruti, Britaania, Tvsmotor. On Wednesday Bajajfinsv and Biocon. On Thursday Bajajauto, HUL, Titan. On Friday Marico, Indusindbank.

ICICIBANK has announced standalone profit Rs 4402 crore for quarter ending March 2021 and Net NPA declined to 1.14% during the quarter. Overall the performance was below estimation and not good report

Investors worried about local sentiment and many states tighten the lock-down. India added record over 3.49 lakh new virus cases in single day on April 24

Recovery rate in the last 24 hours dips to 83.05% Vs 83.49% on the previous day, mortality rate at 1.13% Vs 1.14%.

Positivity rate rises to 20.33% Vs 19.77% previously. 14.09 cr have been vaccinated so far in India


NiftyFuture weekly trend decider 14150 and 14535 for the last week of April

NiftyFuture formed a hammer pattern in the daily scale as well as weekly chart which indicating sell on rise formation

NF considering a strong support and resistance is last week low and high

The strong support around 14150 if breaks and closes below the level, expecting further weakness up to 14000 and 13900

But, If not breaks 14150 and sustains above 14350 rally will be expected 14470 and 14535 which was last week high. If breaks 14535, expecting more relief

But, again same mantra, If rise and if comes strong resistance zone can create short positions

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Updated: 11.16 am / 25th April 2021