Dalal Street Week Ahead: #NiftyFuture Trend Decider For March 2nd Week

NiftyFuture last close: 14953.05 (-1%)

What  a terrible week!! NiftyFuture was made a smart comeback from previous week loss

Benchmark indices rising over 2.7% while Sensex added 2.6% to end at 50405

The broader markets outperformed with the Midcap gained 3.5% and the Smallcap indices added around 4%

Boosted strong macro economic data and strong sales report from autos in Feb so these factors lifted sentiment

Global markets worried about rising bond yields in last week

US 10 year bond yields rose to a new 1 year high on last week. Previous week bond yield was settled  at 1.4% and this week settled at 1.57%

FIIs bought net bought Rs 2200 crore of Indian equities in the week ended March 5 while DIIs sold Rs 2635 crore

On coming week, Industrial production data for the month of Jan and CPI inflation for Feb will be released on coming Friday and these factors will be impacting on following week

Easy Trip Planners will open public issue on March 8 at a price band of Rs 186-187 per share

The daily rise in new Covid-19 infections were recorded above 17,000 for the second consecutive day

Goldman Sachs raised Brent crude price forecast by $80 a barrel in the third quarter of this year

China exports surged in the first two months of the year, reflecting strong global demand for manufacturing goods. Exports jumped 60.6% in dollar in the Jan-Feb periods from a year earlier

This week (March 2nd week) NiftyFuture weekly trend decider 15320 and 14520

On last Friday US declared better than expected jobs data and US markets was surged nearly 2% while SGXNifty was up more than 100 points

Today China says, exports jumped 60.6% vs expected of 40%.

These above news is very boost for China market as well as global markets.

NiftyFuture will be opening more than 100-150 points gap up on tomorrow.

Let’s see technical levels,

This week only for 4 trading sessions (On 11th March holiday due to Mahasivatatri)

NiftyFuture is facing a resistance 15100, 15240 and 15320. Weekly strong resistance at 15320

If crossover and closes above 15320.  Then will try to check once again life time high

On another hand, NF is considering a supports 14860, 14775 and 14520

Weekly strong support at 14520 which was placed previous week low

Note these points: Stay caution around 15200-15350 and 14500-14650 that means avoid fresh buying at higher levels and don’t short at lower levels.

More live market update will be sent to my clients only

Updated: 01.28 pm / 07th March 2021