NiftyFuture last close: 13518.35
On last week NiftyFuture was seen range with volatile week but indices continued to hit fresh record highs in the week gone
NF gained 255 points to end at 13518.35 or 1.7% while Sensex crossed 46000 for the first time and added 1020 points in the past week
In previous week NF having almost 60-75 points premium but in last week premium was eroded and closed with just 5 points premium which means long unwinding
Midcap index and smallcap index was rallied 1% to 1.5% in the past week
Index heavy weight stocks Reliance gained almost 3% in last week and Hdfcbank did not well
FIIs continued investments in the Indian equities in the third consecutive month in Dec so far
FIIs net bought 26928 crore and DIIs net sold 18625 crore in the month of Dec so far
On Dec 11th post market hours IIP data came with better than expected and market will react to the macroeconomic data IIP, CPI inflation in early trade on Dec 14
US FDA on Dec 11 approved the Pfizer-BioNTech covid-19 vaccine for emergency use
Investors will keep an eye on the progress on the vaccine
On USA, Rising Covid-19 infection cases and deaths. Fresh business restrictions in many US states
Hoping the possiblity of stimulues negotiations dragging on through Christmas
In India Covid-19 active cases around 3,72,000 and recovered rate stood at 94.75%
On 14th Burger King listing on Indian markets expecting a strong debut because shares are trading with a 75% premium in the grey market on Dec 11
Mrs Bectors Food Specialites IPO will open for subscription on Dec 15 with the price band at Rs 286-288 per share
Important events in global side, Dec 14th CPI inflation in India, Dec 15th China IIP data, Dec 17th US FOMC rate decision and Dec 18th Japan BOJ rate decision
NiftyFuture ended higher in the volatile session on December 11 after hitting fresh record highs during the day
NF has formed a small bearish candle on the daily chart which was indicated selling pressure at higher zones but declines are being good support.
NF has formed a long-legged Doji formation candle on weekly chart.
On Dec 3rd week NiftyFuture trend decider at 13350 and 13600
In the near NF would be the trading range between 13350 and 13600
NF is finding a key resistance at 13600… Once if breaks and holds above the level
Bulls will be dominate up to 13750 and 13860. But chances are remote only
NF considering a very strong support around 13350. If closes below the level then will finding a next support 13200 which was 20 DMA then will test 12950
On OI side…. Maximum OI was seen at 13200PE and followed by 13000. On CE side 13600 and followed by 13800 strik
However expecting the range 13200 and 13600 on coming weeks!!
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Updated: 11.32 am / 13th Dec 2020
