Nifty Futures Todays Trend, Support, Resistance, Prediction, Analysis, Target and View is given below
Nifty Futures today was seen marginally in the red along expected lines but the next few weeks are going to be very crucial for Nifty Futures and the overall broader market. Bank Nifty Futures which has significant weightage in nifty futures was seen leading the down move today and has already started showing signs of weakness even before Nifty which means that in the coming time (may not be tomorrow or next week but overall over a bit more longer time frame) banking stocks (especially Public Sector Banks) could underperform the Nifty or in other words banks could be leading the fall whenever the fall begins so it is important to track the bank nifty levels from now onwards as bank nifty could well act as a leading indicator to the Nifty Futures moving down and starting the reversal or showing signs that the move that started at 9952 is over so be very alert. Now coming back to Nifty Futures based on our prediction, trend analysis, view and strategy we maintain lower side targets over long term and remain of the view that these are not levels to buy fresh into the Indian stock market due to multiplicity of reasons some of which we have discussed in our post over the past 1 week or so. Our view in the near term remains that we have significant resistances around 10650 and the near term supports around 10500 are not that strong as there is not significant base building or any major factor that could make the 10500 support zone invincible for the time being so the move that started around 9958 spot Nifty levels has more or less done its bit now we need to wait for fresh signals from Nifty Futures as to what it wants to do there could be one scenario where Nifty gives a minor retracement and then moves towards 10700 well we are keeping all options open and it is even possible that Nifty Futures could just reverse and resume the main trend we are open to any option playing out but we do not see targets of 11,000 as what the general market participants are predicting or we do not align with that view. We are well aware that many people are calling targets and predicting that Nifty Futures will move towards 11,000 levels but we are once again saying that we do not belong to that camp and this is not the time to get overly bullish for now.
Nifty Outlook, view and recommendation for the coming week.
There are important time cycles and astro cycles coming together next week so we could see some increased volatility. For investors who have been buying on dips or Investors who are buying and deploying cash via SIP route, we recommended to book out and our advice is to get out into as much cash as possible. We expect much more lower side from current prices and we see much better valuation entry points that will be available in the coming time. If you do still want to invest money please move to liquid fund or balanced fund we do not recommend any buying or investing in equities especially Indian equities as we expect Indian stock market to underperform the world stock markets in the coming time.
Nifty Share Price / Nifty 50 / Nifty Futures today’s stats
Nifty spot LTP 10564 (-1.25, -0.01%) , Nifty 28April Futures LTP 10,595 (Previous Close 10578, Volume 1,06,390) , Nifty 31May Futures LTP 10625 (Previous Close 10602, Volume 16,940 ), Rollover Difference 30.1 points, Rollover percent 9.53% , Open Interest 400937, OI Change 1.35%, PCR (Put Call Ratio) 1.38, Today’s Low-High 10527-10582. Top Gainer was TCS and Top Loser was Yes Bank. Most Open Interest Up SunPharma Most Open Interest Down Balrampur Chinni. Daily Nifty spot RSI 63.62. Advance 723 Declines 1018 Unchanged 310
Nifty Futures / SGX Nifty Live Streaming Real-Time Chart which updates on a real-time basis is provided below for reference Resistance, support levels have been discussed above