#NiftyFuture Weekly Analysis (29th June – 3rd July)

Niftyfuture last close: 10318

Consecutive 2nd winning week and NF managed above 10200 mark and weekly close at 10318

NF weekly gain of 1.2% and Sensex rose 1.2%. Rally seen in the Mid-cap and Small-cap index with added 2.7% in the last week

Last week NF was made a weekly high of 10536 (Wednesday) and weekly low of 10181 (Thursday)

On 26th June NF was spiked from intraday low of 10235 to 10348. Finally weekly close at 10318

NF was seen rallied 37% from March 23’s low 7551 to 10548

Till this June month FIIs bought 9430 crore worth of stocks in cash segment whereas DII net sold 653 crore.

FIIs sold 3503 crore in Index Future till date of this month June

Covid-19 have been increasing day by day and daily infected peoples figures came nearly 20k

Total cases currently stands at above 5,29,421 (at 11.06 am) which includes 16103 deaths and recovered cases 3,10, 146 as per govt data. Recovered ratio around 57%.

Many states has already extending their lockdown till July 31st

Now, Govt maybe release July month guidance in couple of days

SEBI recently extended the date for disclosing earnings report till July 31

In coming week many company will be declaring earnings report like, Ongc, Bharatforge, Rites, Sail, Mrf, and Force motors

June auto sales will be declaring on 1st July. April month was full washout, May month was reopened gradually and June month was 85% fully opened. However the sales figure will come better than last month.

NiftyFuture weekly trend decider at 10180 and 10540

(Did you know ? In last week I did mention in NF weekly analysis “NF facing weekly resistance at 10530″……….. Do you know last week NF high ?? Exact high of 10536. Click here )

NiftyFuture has formed Spinning Top candle and 2 days shoulders top

Chart indicating a weekly resistance at 10370, 10450 and 10540. These resistance are very crucial for coming week.

Suppose NF once if breaks and manages above 10540…….. We see further rally up to 10750. But chances are remote only.

On other hand, NF can be considered as weekly supports as 10180 and 10050. If breaks and sustained below 10050.

Bears have an upper hand up to 9820.

On Option side, Call writing was seen 10400, 10500 and followed by 11000 while Put writing was seen at 10100, 10000 and followed by 9800

Highest OI was seen 10000PE and 10500CE…….. Hence is NF will consolidate around 10000-10500 on coming week ?

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Updated : 12.02 PM / 28th June 2020