NiftyFuture Last close 11327
The index ended with losses for a third week. Across the board selling pressure and NF close below 11300 for this week.
For the week, Midcap index was slipped 1,6%, PSU Bank cracked 5%, Small cap index melted 2%, Metal index was down by 1.8% and IT down 0.3%. Whereas Media index rose 5% and Pharma index rose by 1.6%
NiftyFuture losing a third consecutive week, However on Friday NF has minor bounce back and closes at 0.7% gain. Overall Indian market looks weak only but some bulls action attempts cannot be ruled out
My Weekly technical outlooks, NiftyFuture will take multiple supports 11225, 11160 (200DMA) and 11130.
NF will act above supports for very crucial for coming week
Suppose, NF once if breaks and closes below 11130 (Low of May 2019) Expecting more cracks & would lead to a major breakdown up to 11010, 10840 and 10600
In current scenario if bulls return to dominate the market NF will move up to 11410, 11475 and 11560. If comes the level chances for bears to create short position.
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Updated : 09.58 PM / 27th July 2019
