NiftyFuture last close: 13774.05
Benchmark indices ended the week at a fresh record high
Market gained for seventh consecutive week ended Dec 18
Global sentiment was lifted benchmark indices, Fed’s decision to keep interest rates unchanged, Many countries approved Covid-19 vaccines, Again talking about US stimulus measures and further improvement in industrial output in October
Nifty rose 247 points to 1.84% while Sensex gained 860 points or 1.87%
Midcap index rallied 1.6% and Smallcap index rose 1.2%
On last week major contributed stocks to index Hdfc twins, Bajaj twins and IT stocks
The main thing is FII’s inflow, They pumping money to be unstoppable in last three month. On Oct month they was pumped money in Indian equities aggressively when Nifty at 10800. Now Nifty at 13800 still they investing!!
FIIs net bought 38734 crore in Dec so far. In last three months they bought Rs 1,18,588 crore
On another hand DIIs still they booked profit. DII sold 29651 crore in Dec so far. In last three months they sold Rs 95288 crore
India crossed 1 crore infections but daily infections count has been declining with strong recovery rate.
The recovery rate further improved to 95.4% while the overall active cases were almost 3 lakh
Vaccine progress continues to provide strong support to the global equity market
In India Bharat Biotech, Serum Institute of India, and Pfizer have already applied for emergency use authorisation for their vaccines
USA has cleared second vaccine for emergency use which is Moderna’s vaccine after Pfizer-BioNTech vaccine.
IPO of Antony Waste Handling Cell will open subscription on Dec 21 and the same will close on Dec 23. Thre price band for the issue has been fixed at Rs 313-315 per share.
NiftyFuture has formed bullish candle on the weekly chart which indicating bulls are still in a strong position
NF marked higher highs and higher lows in past many sessions which was indicated if there is any declines are being good support
NF weekly trend decider at 13620 and 13930
NF will take immediate support at 13620. Once if breaks and closes below the level
Expecting further weakness up to 13520 and 13420.
NF is facing a weekly resistance at 13870-13930, If manages above 13930 we can expect further upside momentum towards 14050-14140
But………overbought territoty on the daily chart which means profit booking from the higher levels can’t be rules out.
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Updated: 12.25 pm / 20th Dec 2020
