Dalal Street Week Ahead: #NiftyFuture Trend Decider For March 4th Week

NiftyFuture last close: 14756.45 (+1.2%)

Bears took control on last week & Market remained under selling pressure thoughout the week ended March 19

The Sensex fell 933 points or 1.84% to 49859 and the Nifty50 declined 287 points or 1.9% to settled at 14744 levels

Small-cap index fell 3.5%, Large-cap index dropped 2% , Realty index fell 5.75% while Mid-cap index declines 2.6% week ended March 19

On concerns over rising the inflation and bond yields on last week

Investors were worried about a second wave of Covid-19 in India which was dragged the Indian equities markets

Indian rupee spiked against the US dollar during the week and rupee ended higher by 27 paisa at 72.51 per dollar on March 19

During the week FIIs bought Rs 5893 crore in equities while DIIs sold Rs 3037 crore

During this month so far, FIIs bought Rs 9221 crore and DIIs sold 4433 crore worth of stocks in cash segment

On coming week there is no macro economic data in India

But, Investors looks and  worried about a second wave of Covid-19 virus cases

In Maharastra, Kerala, Gujarat and Tamilnadu has reported highest virus cases in last 48 hrs

India has recorded 1,15,14, 331 confirmed cases, including 1,59, 370 deaths and 2,71, 380 active cases in the country as of 19 March

Vaccine doses administered in India has crossed 3.70 crore said Union Health Ministry

5 state election will be held on next month onwards, but people and politicians is not cared about virus. Maybe virus cases will spreading more in these states.

Crude oil fell more than 10% in past week fear of lock-down

Barbeque Nation Hospitality IPO opens on March 24, Price band fixed at Rs 498-500

NiftyFuture weekly trend decider for March 4 week of 15080 and 14480

On Friday, NF was broken March month low and made a low was 14371 which was indicated Budget day closing rate around, but unable to sustained below the level and bulls took control NF went to more than 250 points

Now, NF finding a weekly support at 14480, once if breaks and closes below the level

Expecting further weakness and finding a next positional support 14350, 14170 and 13800-13700. The Budget day gap will be filling.

On other hand, NF is facing a resistance 14900, 15000 and 15080 (Last week high)

The above resistance are crucial for coming day, If comes resistance zone can do fresh shorts until 15080 closing basis stop

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Updated : 07.59 pm / 20th March 2021