NiftyFuture last close: 14953.05 (-1%)
What a terrible week!! NiftyFuture was made a smart comeback from previous week loss
Benchmark indices rising over 2.7% while Sensex added 2.6% to end at 50405
The broader markets outperformed with the Midcap gained 3.5% and the Smallcap indices added around 4%
Boosted strong macro economic data and strong sales report from autos in Feb so these factors lifted sentiment
Global markets worried about rising bond yields in last week
US 10 year bond yields rose to a new 1 year high on last week. Previous week bond yield was settled at 1.4% and this week settled at 1.57%
FIIs bought net bought Rs 2200 crore of Indian equities in the week ended March 5 while DIIs sold Rs 2635 crore
On coming week, Industrial production data for the month of Jan and CPI inflation for Feb will be released on coming Friday and these factors will be impacting on following week
Easy Trip Planners will open public issue on March 8 at a price band of Rs 186-187 per share
The daily rise in new Covid-19 infections were recorded above 17,000 for the second consecutive day
Goldman Sachs raised Brent crude price forecast by $80 a barrel in the third quarter of this year
China exports surged in the first two months of the year, reflecting strong global demand for manufacturing goods. Exports jumped 60.6% in dollar in the Jan-Feb periods from a year earlier
This week (March 2nd week) NiftyFuture weekly trend decider 15320 and 14520
On last Friday US declared better than expected jobs data and US markets was surged nearly 2% while SGXNifty was up more than 100 points
Today China says, exports jumped 60.6% vs expected of 40%.
These above news is very boost for China market as well as global markets.
NiftyFuture will be opening more than 100-150 points gap up on tomorrow.
Let’s see technical levels,
This week only for 4 trading sessions (On 11th March holiday due to Mahasivatatri)
NiftyFuture is facing a resistance 15100, 15240 and 15320. Weekly strong resistance at 15320
If crossover and closes above 15320. Then will try to check once again life time high
On another hand, NF is considering a supports 14860, 14775 and 14520
Weekly strong support at 14520 which was placed previous week low
Note these points: Stay caution around 15200-15350 and 14500-14650 that means avoid fresh buying at higher levels and don’t short at lower levels.
More live market update will be sent to my clients only
Updated: 01.28 pm / 07th March 2021