NiftyFuture last close: 11435.55 (+1.6%)
NiftyFuture was rallied 3.4% and the best weekly gain since May last week
Sensex rose 3.5% while the Midcap and Smallcap inde was surged around 3.2% respectively
Bank index was gained 5.8% and consumer durable index rose 5.5%
On last week rally was led by global cues and expectation of another round of stimulus from USA
Another positive news was “There is no fresh lock-down in any country”
In India, the rising of auto sales numbers in Sept month
Earning sessions will be starting on this week and first TCS will be declaring the results on 07th Oct
Tomorrow (05th Oct) Supreme Court’s decision on the interest waiver case
RBI will schedule MPC meeting on this week
In India Covid-19 deaths crossed 1 lakh and recovery rate stood at 84% previous week was placed at 82%. In world-wide best recovery rate in India
On the global side, US President Trump infected in Covid-19 and the situation will be closely monitored
After the news was Trump infected in Covid-19 global market was melted but slightly recovered in end of the session. SGXNifty closed with declined 40 points
NiftyFuture weekly trend decider 11620 and 11100
On Thursday, NiftyFuture was formed a bullish candle on the daily and weekly chart for the week ended on Oct 1
NiftyFuture is facing a weekly resistance 11525 and 11620 which was placed in latest swing high
Index finding a very strong resistance around 11620. Once if breaks and closes above the level, Expecting further rally up to 11800
NF can considered as weekly support as 11185 and 11090
Suppose if breaks and closes below 11090……… Finding a next supports 10930 and 10790 which was placed around 200 DMA
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Updated: 10.49 am / 04th Oct 2020
