#NiftyFuture Trend Decider For June 4th Week. Strong support and resistance levels ?

Last close: 15696.70

Indian equity market broken its four week winning streak this week and settled marginal losses

Global cues was triggered bullish sentiment on last week

The Nifty50 fell 116 points or 0.73% to end at 15684 while the Sensex was shed 130 points to close at 52344

Fresh record high was Nifty at 15901 and Sensex at 52869

Midcap index fell more than 3%, Smallcap index shed 2%, Metal index dropped 6.5% and Realty, Psu bank index fell around 4% in the week ended 18th June 2021

FIIs bought Rs 1060 crore value of stocks while DIIs sold 488 crore in the last week

So far in June month FIIs bought Rs 5848 crore while DIIs sold 2293 crore

On last week many important date came-out likes CPI and WPI inflation which was rose to 6.3% and 12.94%. On global side FED signaled two rate hike before 2023

Oil prices went up-normally the followed news was not comfort for stock market

On last Friday US markets tumbled more than 1.5% and SGXNifty was ended down 180 points hence Monday morning market will be reacting as per global cues

Many states relaxed the lock-down restrictions

Petrol and Diesel prices rising sharply on every day which is triggering by inflation

On coming week some company will be declaring the earnings report Naukri, NMDC, Apollohosp, Ashokley and IGL

India has witnessed decline in the daily case count, On 19 June 60,753 fresh infections were reported along with 1647 deaths

The daily positivity rate was recorded at 3.22% it has been less than 5% for 13 consecutive days

AIIMS chief Dr Randeep Guleria said that, Third wave of Covid-19 could hit India in the next 6-8 weeks

NiftyFuture trend decider for June 4th week at 15800 and 15450

On coming week highly volatile will be expected due to June expiry

NiftyFuture was formed a hanging man type of pattern in daily chart and formed a small bodied bearish candle on weekly chart

Which was indicated caution trade on higher levels like resistance zone as well as not short at very lower levels

However, NiftyFuture is considering a weekly support 15450 which was indicated double bottom in past 15 days

If breaks and closes below 15450, expecting further weakness up to 15275 and 15100

On other hand, NF is facing a resistance 15775-15800 which last two day’s high

If sustains above 15800, easily will be breach 16000. But chances are very remote only

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Updated: 10.31 am / 20th June 2021