NiftyFuture last close: 13763.75
The market closed flat for the week ended December 24. On 18th Dec Nifty was closed at 13760 and 24th Dec Nifty closed at 13749.25. Almost 10 points declined.
During the week index was seen tired after the 19% rally of previous seven consecutive weeks
The Sensex rose 13 points to 46973
On Monday 21st Dec deep fall was seen which was biggest single day fall since May 2020. Nifty has declined 410 points or 3.1%
But, the entire loss was recovered by the rally in three consecutive sessions
The novel strain of coronavirus in the UK sent a panic and fears of more lockdowns
However the global market cheer of early phases of vaccines and relief bill passed by the US
The market is expected to remain huge volatile in the coming week due to Dec series expiry and novel coronavirus fears
In India Covid-19 recovery rate stood at 95.77% so far from 95.4% on previous week
Active cases in India around 2.75 lakh or 2.8% of total infections
The novel strain coronavirus found in other parts of UK like France, Australia, Germany and Belgium
Japan will ban entry to most foreigners to fight virus and Tokyo cases jump to record high
Auto companies will release their December sales on the first of Jan 2021
FIIs inflow decreased in the past week they bought 2590 crore in the week ended Dec 24 but they invested Rs 11805 crore of previous week. They net bought Rs 41000 crore in Dec so far
DIIs continued to be net sellers they sold 3400 crore in last week
NiftyFuture trend decider is 13800 and 13450 for the period of 28th Dec to 1st Jan
On Thursday NF formed a bullish candle on the daily chart while the weekly chart formed dragon fly doji kind of pattern which indicated index weekly closed near by weekly opening levels.
The market is expected to remain huge volatile in the coming week due to Dec series expiry and novel coronavirus fears
However…… NiftyFuture is facing a weekly resistance at 13800 which was Dec 18 high
NF if breaches 13800 and closed above the level further rally will be expected up to 13900, 13960 and 14100
NF can be considered as weekly supports 13640 and 13450…… If closes below 13450 then will retest past week low 13150
I am expecting the market swinging between the range of 13950-13450 levels!! Maybe I am wrong
Anyway……. For the next days traders need to be extra cautions!!
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Updated: 11.05 am / 27th Dec 2020
