NiftyFuture last close: 12788.90
What a fantastic long week at record closing high on Muhurat trading on 14th Nov
Nifty gained 517 points or 4.3% and Sensex surged 1745 points while Midcap and Smallcap indices rose 3.6% and 3.95% on last week
Indian markets extending gains for second consecutive week
On last week all index likes Healthcare, IT, Metals, Banking and Telecom index gained 3% to 7%
FIIS seems very bullish on Indian markets and their support was the major reason for indices to trade at record high
They have bought Rs 19750 crore worth of shares in last week and they bought net total Rs 33232.35 crore for this November month. This is the highest level since 2007.
Domestic institutional investors to book profits as they net sold Rs 20301 crore in Nov
WPI inflation data for Oct will be releases on Monday
Covid-19 cases declining week-after-week as the active infections at 4.88 lakhs against more than 10 lakh in couple of months back
The recovery rate was at 93.2%
Gland Pharma is expected to list on Friday after its IPO was subscribed just 2 times
Weekly Trend Decider 12480 and 12940
NiftyFuture ended the week at record closing high in the one hour muhurat trading on Saturday
On Friday index was formed a strong bullish candle and Saturday one hour trading index was formed a small bodied candle. In overall weekly scale was seen very strong
While updating SGXNifty were trading at 12850 and index up almost 75 points
On Nov 3rd week NiftyFuture is facing a weekly resistance at 12940
Once if breaks and manages above 12940 and rally will be expected 13050 and 13170
More possibility is there in this November series index will breach 13000.
But………. The bears are taking a rest in last 10 days Once they back……… will show more strength
However, NF is expected to act as a support at 12500
If close below 12500………. Then bears will be dominate the market
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Updated: 10.18 am / 16th Nov 2020