Niftyfuture last close: 10235.55 (+1.6%)
What a terrible week….. Finally NiftyFuture was closed above 100 DMA and managed above 10200
Nifty was climbed 2.7% while Sensex rallied 2.8% for the week ended June 19th
Mid-cap index gained 1.6% and 3.7% rally seen in the Small-cap index
On Monday, NF was opened gap down made a low of 9682 then finally settled at 9813
On Tuesday, NF was opened gap up around 10030 then news was flashed two soldiers killed in Ladakh’s Galwan Valley violent face off with Chinese. After the news NF was melted up to 9703. But didn’t break previous day’s low 9682.
On Wednesday, NF was seen huge volatility from 9840 to 9985 again fell up to 9850, But not break previous day’s low
On Thursday, NF was seen rallied up to 2.2% after the news was SC allowed more time to the DOT to review the payment proposals
On Friday also Bulls dominated and NF rallied 1.6%. Reliance rocked up to 7% and helped to index gain
Rising the border tension India and China
IAF chief said Air Force fully aware of situation at Lac and well prepared to respond to any contingency
Covid-19 cases crossed 4 lakh and day by day increases the total number of affected cases
On Friday, US market has erased the intraday gain and dropped up to 200 points, and Nasdaq ended at flat. Fears of second wave of virus hence the investors sold aggressively
FIIs seen consecutive buying mode in last two sessions they bought around 1600 cr whereas DIIs turned to selling mode on last session they sold 880 crore in cash segment
As per global cues, SGXNifty were closed 95 points down around 10130
As per NSEIndia data FIIs long 56% in Index Future they reduced shorts compared in previous days
Reliance stock during the lockdown period as it doubled investor’s wealth since March 23
Reliance Jio Platforms raised more than Rs 1.16 lakh crore in just 56 days and market capitalisation to cross 11 lakh crore. Reliance is a Zero net debt company.
This week (22nd to 26th June) NiftyFuture Trend Decider 10320 and 9810
There will be more turmoils this week than last week because the June expiry week
NiftyFuture carried with positive momentum and seen consecutive two rising bar
As per technical chart indicates a NF resistance at 10320 which means previous week’s high
Once if breaks and managed above (or closed) the level, Expecting more short covering and will move up to 10440 and 10530.
But, Stay caution at higher levels and avoid fresh buying!!
NF finding a supports 10050, 9940 and 9810. Weekly support at 9810 if breaks and closes below the level, Finding a next support at 9680 and 9580
Hence, Closely watch at 10320 and 9810
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Updated : 05.38 PM / 20th June 2020