Dalal Street Week Ahead: Sept 3rd Week | SEBI Regd Investment Advisor

NiftyFuture last close: 11467.10

The market rebounded this week after a correction of previous week

Nifty ended 130 points gained or 1.2% in 2nd week of Sept while the Sensex climbed around 500 points or 1.32% to close at 38854

While a period Midcap index declines 1.1% and Small-cap index dropped 3%

Index heavyweight stock Reliance was surged almost 10% and helped to lift the index

But, Bank index did not well on last week seems heavy selling pressure

India-China border tensions continue and two country’s ministers talk held in Moscow

However, The broader markets was underperformed. US markets was seen huge volatility in last week and daily volatile between 3% to 5%

Covid-19 daily infections increased and near 1 lakh per day. India reported 96550 confirmed cases on Sept 11, the total count of 46 lakh with 77500 deaths.

India is at second place aftet USA which reported 65 lakh confirmed case

WPI and CPI inflation data for August will be released on Monday 12 pm

USA will be declared IIP data on Tuesday and followed by FED rate decision on Wednesday

NiftyFuture weekly trend decider 11200 and 11600

NiftyFuture was formed bullish candle in last three sessions but weekly chart shows hammer kind of pattern

Hence the sideways trade will be expected during this week and NiftyFuture is facing a weekly resistance 11520 and 11600

Once if breaks and manages above 11600……. Rally will be expected up to 11680 and 11800. But chances are remote only and stay caution at higher levels!!

NF considering a weekly supports 11330 and 11200 which was placed latest swing low

If breaks and manages below 11200……… Expecting more weakness up to 11100-11000

On the OI side, Highest open interest was seen 11300PE and 11500CE