Bank Nifty & Nifty futures prediction for 21 May 2021
Nifty & Bank Nifty futures prediction for tomorrow 21 May 2021: Indian stock markets opened marginally higher in the morning amid negative cues from the global market peers. The key benchmark indices continued their lackluster performance ahead of the weekly F&O expiry. In the second half, markets extended their yesterday’s losses on the back of selling in metals and banking sectors.
The key benchmark indices Sensex and Nifty have struggled to remain in the positive zone and the Nifty index tried to sustain the key level 15000 in the morning. The traders remained cautious, with rating agency ICRA’s report stating that the increase in headline figures of key economic indicators in April is attributable to the base effect and that the economy will see a hard time as consumer morale remains low.
However, the downside of the market capped as India reported 2,76,110 fresh daily coronavirus cases on Thursday, continued to decline in fresh cases, and remained below the 3L mark for the fourth consecutive days.
Today’s market updates- Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 124.10 points or 0.82 percent and closed at 14906.05 levels while Sensex declined 337.78 points or 0.67 percent and closed at 49564.86 levels. The Bank Nifty on the spot price was down by 350.65 points or 1.04 percent and ended at 33334.55 levels.
The midcap and smallcap index closed marginally lower today. The Nifty midcap index was down 21.10 points or 0.08 percent and closed at 25211.70 levels. The Nifty smallcap index declined by 15.45 points or 0.17 percent and ended at 9036.90 levels.
The top five gainers in the Nifty 50 index were M&M, Cipla, BPCL, IndusInd Bank, and Titan Company. The top five losers in the Nifty 50 index were Tata Steel, Hindalco, Coal India, Britannia, and ONGC. The most active stocks in the Nifty 50 index were Tata Steel, Tata Motors, and SBI.
On a sectoral front, Finance, Infrastructure, Power, Real Estate sectors closed marginally higher. The sectors that closed in the red were Metals, Banking, FMCG, Healthcare, and Oil & Gas sectors.
Nifty and Nifty Bank futures price movement for 20 May ( May Expiry)
The Nifty futures price opened at 15040 made a negative opening of 19.45 points. It has touched an intraday high at 15084.85 and a day’s low at 14911.65
The Nifty futures price has given a movement of 173.2 points today. In the end, it fell 121.45 points or 0.81 percent and ended at 14938 levels.
The Bank Nifty futures opened at 33779 It made a negative opening of 21.75 points today. It has touched an intraday high at 33913.75 and a day’s low at 33387
During the day, the Bank Nifty in futures has given a movement of 526.75 points. In the end, it closed lower by 310.75 points or 0.92 percent and closed at 33490 levels.
Nifty and Bank Nifty futures prediction for tomorrow 21 May (May Expiry)
Nifty futures prediction for tomorrow 21 May
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15040 whereas All Down Moves Initiates Short Covering (Buy) @ 14870
If the Nifty futures share price Moves Above 14982 and sustain. Then you should Buy with 1st Target of 15011 during the day with a Stop Loss of 14902 FOR the Target of 15011-15048- 15095
If the Nifty futures share price Moves Below 14902 and sustain. Then you should Sell with the 1st Target of 14870 during the day with a Stop Loss of 14982. FOR the Target of 14870- 14838 -14804
Bank Nifty futures prediction for tomorrow 21 May
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33700, whereas All Down Moves Initiates Short Covering (Buy) @ 33350
Suppose the Bank Nifty futures Moves Above 33597 and sustain, then you should Buy with the 1st Target of 33702 during the day with a Stop Loss of 33380. FOR the Target of 33702 – 33810 – 33965
If the Bank Nifty futures Moves Below 33380 and sustained, then you should Sell with the 1st Target of 33270 during the day with a Stop Loss of 33597. FOR the Target of 33270 – 33180 – 33060
Global markets today
On the global front, Asian markets mostly closed in the red on Thursday tracking the negative cues from the US markets and on concern about the surges of coronavirus cases in the region. The European markets are trading higher after yesterday’s sell-off due to the reopening optimism and solid corporate earnings. In the US futures markets, Dow and Nasdaq futures are trading marginally lower at this moment. ( 4.30 pm IST)
Conclusions
Indian stock markets closed lower on weak global cues. Fed’s minutes stated that the bond purchasing program may slow down and the decision to be taken in the next Fed meeting. A profit booking was seen in the metals, banking counters today. In the absence of any domestic trigger, Indian markets will trade as per global cues. The global markets may remain volatile in the coming days due to inflation fears.
You can also follow our Daily Morning Report and an expert view on Nifty and Nifty Bank futures prediction for tomorrow 21 May.
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