NiftyFuture last close: 12871.30
NiftyFuture was gained 80 points and Sensex rose 245 points in last week after surging 10% in the previous two weeks
In last week bulls strength reduced compared to the previous two week
On last week Mid-cap and Small-cap stocks was seen action and index rose 2.8% and 1.6%
FIIs net bought 46250 crore in Nov month so far this is the highest monthly inflow in last two decades
On other hand DIIs took advantage of recent big rally and they continued with their profit booking. They sold Rs 32643 crore in Nov month so far
DII not even to buy single day in current month and they sold highest figure since 2007
Action was seen Banking, Financials, Metals, Realty, and Intra stocks
Selling pressure was seen in last week Telecom and Pharma stocks
Especially Reliance did not support to index and seen strong selling pressure
The positive news from leading pharma companies in last two weeks
First Pfizer reported vaccine showed a 95% success rate and as a result, Second Moderna claimed that its vaccine is 94.5% effective
However, Almost near by 100% success rate it will be helped to Covid-19
India worried about spike in virus cases in key states like, Kerala, Gujrat, MP, WB, Delhi and MH
Some states planning to curfew in particular cities
In India recovery rate increased to 93.75%, compared to 93% in the previous week
On last week NiftyFuture was consolidated around 12740 to 12975. Almost 200 points range bound in last 4 sessions but volatility was more
On Thursday NF was formed hammer pattern candle and Friday index formed small-bodied bullish candle which was tough fight seen in bulls and bears
On Nov 4th week, NF is facing a strong weekly resistance 12950-12980, Once if breaks and manages above the level
Bulls will be dominate up to 13070 and 13180 but expecting profit booking at higher level might not be ruled out.
On the contrary, NF finding support at 12740 which was placed on last week low
If manages below 12740………….Expecting more weakness up to 12480.
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Updated: 11.42 am / 22th Nov 2020
