NiftyFuture last close : 9842.40
What a fantastic month!! Sensex and Nifty rallied more than 14% each in April month
This is the highest series to series gain since May 2009
In last four sessions Nifty was surged 7.7% and Banknifty index climbed 9.95% higher
Did you know ? On last Sunday I did mentioned in our blog “NiftyFut above 9400 expecting more rally up to 9875” Click here to check What I written
On last four sessions NF movement was….. Monday 1.70%, Tuesday 1.1%, Wednesday 1.6% and on settlement day 3.1%.
BSE Small cap index was up 15.50%, Midcap index gained 13.50% during the same period.
Investor’s wealth rose by 16 lakh cr in a month of April
FIIs selling also slowed in April which was supported to indices. FIIs was net sold around 5000 Cr in the cash segment of equity markets in the month of April, Compared to over 65000 Cr sold in the month March.
On last Thursday, post market hours three big company declared earnings report
RIL, Hindunilvr and Techm all three was declared disappointed report
Specially, RIL rights issue was at 1275 per share, discount of 14% from current price
HUL revenues fell over 9%, Net profit fell 3% and TechM net profit 803.9 Cr Vs 1146 Cr
Moody’s has slashed India GDP to 0.20% and Fitch also reduced GDP growth 0.80%
Lock-down 3.0 extended up to May 17th, Virus cases spiked 40000
Above all bad news and will be reacting on Monday market!!
This week NiftyFuture Trend Signal is 9110 and 10130
Thursday after market closed, Continuously came negative news liks RIL, HUL, Techm results, Downgrade GDP, Lock-down extended, Global markets melted, and again USA-China tariff war.
SGXNifty was fell almost 600 points and settled at 9223. I think this is too much fall
All see only for sgxnifty up or down and how much points… But see volume also
Because Sgxnifty fell 600 points but volume was just around 10000. Is this volume ?
This is the tool of spreading the panic……So don’t panic.
Let’s see……… This week NiftyFuture technical views!!
NiftyFuture considering a supports 9400, 9250 and 9110
Technical chart indicating NF weekly support around 9110. Once if failed to take support at 9110
Finding a next strong and crucial support at 8800.
On the other hand, NF is facing a resistance 9770, 9870 thereafter 10130.
So, Watch above technical levels and Happy trading!!
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Updated : 10.15 AM / 03rd May 2020
