Sensex, Nifty closed higher today, Bank Nifty futures prediction for 15 Dec 2020

 

Nifty & Bank Nifty futures prediction 15 Dec: Indian stocks markets opened positive as indicated by the Asian peer and traded above their neutral line most of the day. The market trimmed some of its early gains in the afternoon session but in the last hour, it recovered again. In the end, Nifty closed above its crucial 13,500 levels.

Indian stock market sentiments remained positive as PM Modi stated that economic indicators have shown encouraging signs of recovery post coronavirus pandemic. He also stated that the government has accorded the highest priority to saving the lives of Indians and the way India has handled the crisis through concerted effort has surprised the world.

However, gains remained capped on the higher side as Former Chief Statistician Pronob Sen made a statement that the Indian macroeconomic situation is very uncertain and India’s Gross Domestic Product (GDP) could contract closer to 10 in the FY21. He also stated that although the overall macro-management of the economy by the government has not been very good this particular slowdown is really beyond its control.

Wholesale Inflation (WPI) in November came at 1.55%, highest in 9 months. It was recorded at 1.48% in October and 0.58% in the same period last year. November months retail inflation CPI came at 6.93% as against 7.61% in October. The data announced post market hours today.

 

Global Market Updates today

 

On the global front, Asian markets were closed mixed today. Japan’s Tankan survey showed that the business sentiments improved consecutively for the second quarter in the fourth quarter of 2020. The European markets are trading higher as Britain and the EU have agreed to continue Brexit trade talks beyond Sunday’s deadline. The US futures markets are trading higher on emergency use of Pfizer Vaccine in the country.

 

Today’s market: Sensex, Nifty, and Bank Nifty

 

At the close, Nifty gained 44.30 points or 0.33% and at 13558.15 level while Sensex up by 154.45 points or 0.34% and closed at 46253.46 levels. The Bank Nifty on the spot levels also gained 141.05 points or 0.47% and ended at 30745.90 levels.

The Nifty midcap and smallcap 100 indices also closed higher today. The midcap index gained 134.05 points or 0.66% and closed at 20,571.25 levels. The smallcap index up by 55.80 points or 0.82% and at 6879.75 levels.

The top five gainers in the Nifty 50 index for the day were ONGC, Larsen, Cipla, Coal India, and IOC. The top losers in the Nifty 50 index for the day were Eicher Motors, Hero Motorcorp, M&M, HDFC Life, and Wipro. The most active stocks of the day in the NES were Reliance, Cipla, and ICICI Bank.

On a sectoral basis, Media, Metal, Infrastructure, Capital Goods, and the Banking and Finance sector closed higher whereas Real Estate, Manufacturing, Automobiles, Insurance, and Aviation sectors closed lower today.

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 13550, it made a positive opening of 31.65 points. It has touched an intraday high at 13612.95 and a day’s low at 13490

The Nifty futures share price has given a movement of 122.95 points. In the end, it gained 50.05 points or 0.37% and closed at 13568.40 levels.

The Bank Nifty futures share price opened at 30702.35 It made a positive opening of 93.10 points today. It has touched an intraday high at 30890 and a day’s low at 30656.10

During the day, the Bank Nifty futures share price has given a movement of 233.9 points. In the end, it ended higher by 171.75 points or 0.56% and closed at 30781 levels.

 

Nifty and Bank Nifty futures prediction for 15 Dec ( Dec Expiry)

 

Nifty futures prediction for 15 Dec 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 13650 whereas All Down Moves Initiates Short Covering (Buy) @ 13530

If the Nifty futures share price Moves Above 13592 and sustain. Then you should Buy with 1st Target of 13624 during the day with a Stop Loss of 13525  FOR the Target of 13624-13652- 13684

If the Nifty futures share price  Moves Below 13525 and sustain. Then you should Sell with the 1st Target of 13502 during the day with a Stop Loss of 13592. FOR the Target of 13502- 13470 -13435

 

Bank Nifty futures prediction, 11 Dec  2020

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 30950, whereas All Down Moves Initiates Short  Covering (Buy) @ 30600

Suppose Bank Nifty futures share price Moves Above 30895 and sustain. Then you should Buy with the 1st Target of 30950 during the day with a Stop Loss of  30680. FOR the Target of 30950 – 31009- 31130

If the Bank Nifty futures share price Moves Below 30680 and sustained. Then you should Sell with the 1st Target of 30605 during the day with a Stop Loss of 30895. FOR the Target of 30605 – 30540- 30430

 

Conclusions:

Indian markets closed positive on the first day of the week. Markets opened positive but erased all gains after the announcement of the WPI numbers later in the last hour it recovered. Nifty closed above 13550 levels is a good sign. 

The Indian market is looking positive investors should accumulate some good stocks on the dip. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 15 Dec. 2020.

 

Also read,     The Best Stock market book to read to make money 

                   Nifty & Bank Nifty futures Trading view for 14-18 Dec 2020 

          

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