Dalal Street Week Ahead: NiftyFuture Trend Decider For Feb 4th Week

NiftyFuture Last Close: 14987

NiftyFuture was made a record high of 15430 on 16th Feb then slipped more than 2% from week high to low

NiftyFuture have been ending in the red for the last four consecutive sessions

NiftyFuture lost 1.3% in the week ended Feb 19 while Midcap and Smallcap outperformed in the last with gains of 0.6% and 1.2% respectively. Sensex breached 51000 levels at slipped 1.2%

BankniftyFuture was made a record high of 37770 then slipped more than 2000 points from week high to low and finally settled at 35850 and declined 0.8% in the week ended Feb 19

FIIs has reduced the the buying power in last few sessions and they decreased f&O long positions in last week

However, FIIs net bought 23874 crore worth of stocks in cash segment in Feb so far while DIIs continued to profit booking and they sold 16638 crore in same period

Global cues will continue dominating market sentiment

Market will be reacting sudden spike in Covid-19 in some parts of the country like Kerala, Maharastra, Punjap and Chattisgarh have recorded an upsurge in daily new cases of Covid-19

One more thing source from Bloomberg, Russia reports first cases of H5N8 Bird Flu in humans. Wait and see what will happen on coming days ?

The market would track rising inflation like Petrol prices touched Rs 100 in many of states and it will impact on coming inflation data

GDP data for the third quarter is to be released towards the end of the week, It will be reflect on next week only

RailTel was subscribed 42.4 times and likely to commence trading in equity shares on Feb 26

NiftyFuture Trend Decider For The Last Week Of Feb is 14860 and 15400

After long period NiftyFuture formed a bearish engulfing candle on the weekly chart while formed a big bearish candle on daily charts

NF formed a lower lows and lower highs it’s completely opposite side on previous week which was indicated sell on rise pattern

Let’s see technical levels, NiftyFuture is facing a resistance should be 15150, 15260 and 15400 (Weekly resistance)

Above three resistance are very very crucial…… If anybody want to sell keep stop of above levels.

(Do you know ?  In my youtube video about Nifty prediction on 2021, I told 2nd resistance of Nifty at 15500 on 1st week of Jan 2021. Nifty recent high was 15431)

On another hand, NiftyFuture can be considered as supports as 14860. If breaks and closes below the level

Expecting further weakness up to 14700 and 14550

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Updated: 10.19 am / 21st Feb 2021