Key factors that will impact the market and Nifty, Bank Nifty futures prediction for the week 26-30 Oct.

 

Nifty & Bank Nifty futures prediction for 26-30 Oct Week: Indian stock market closed the week ended 23 October on a strong note. The market gained support from Asian market cues, better quarterly earnings, and easing coronavirus cases. You can read last week’s detailed market analysis here. The next week is the monthly derivative expiry week, the markets are expected to remain volatile. Below are some key factors that may impact the market next week.

 

Corporate Earnings

 

The second-quarter earnings will be the key factor that will directly impact the domestic stock market. There are fifteen Nifty50 companies that are going to announce their quarterly earnings next week. Investors should remain cautious and closely monitor the results of below Nifty50 companies. 

 

Q2 Results dates for Nifty50 Stocks
26 Oct	Kotak Bank
26 Oct	SBI Life
27 Oct	Bharti Airtel
27 Oct	Tata Motors
28 Oct	Axis Bank
28 Oct	Dr Reddy Lab
28 Oct	Hero Motorco
28 Oct	L&T
28 Oct	Titan
29 Oct	BPCL
29 Oct	Maruti Suzuki
30 Oct	IndusInd Bank
30 Oct	IOC
30 Oct	Reliance
30 Oct	UPL

 

Global market cues

 

Global market cues will play a vital role to set domestic market direction in the next week. The US Presential election on November 3 would remain in the focus. The quarterly earnings, a new spike in coronavirus cases, and the stimulus package ahead of the election are other concerns for the market next week. 

In European markets, the surge in new coronavirus cases and its new restrictions and lockdown process worried the investors for the economic recovery in the region. Though there are no major economic data to be announced in the coming week in the global market, the quarterly earnings will play an important role to decide the market directions next week.

 

Coronavirus risk

 

In India, the Coronavirus cases are in the declining stage compare to week on week basis. India’s coronavirus recovery rate was around 90% on Friday against 88% last week, while the fatality rate remained around 1.5% it is the lowest among all impacted countries. 

In India, there are around 70 Lakh total coronavirus cases registered so far, and active cases are around 6.68 Lakh. The daily active cases have declined from 98000 to 50000 (approx) is a good sign for the Indian market.

The second wave of Coronavirus cases has started in the US and UK, experts are worried that after the festive season India may see some spike in new cases. On the vaccine front, Bharat Biotech’s Covaxin has got approval for Phase III trails from the next month. Hopefully, in early 2021 world will have Vaccines for coronavirus infection. Investors should keep watch closely the coronavirus related news.

 

Nifty and Bank Nifty futures prediction for next week (26 – 30 Oct)

 

Nifty futures prediction for next week

Primary Trend of Nifty futures next week: Range-Bound

Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 12080 whereas All Down Moves Initiates Short Covering (Buy) @ 11800

If Nifty share price in futures Moves Above 11974 and sustain. Then you should Buy with 1st Target of 11992 during the day or week with a Stop Loss of 11902 FOR the Target of 11992- 12048- 12085- 12120

Suppose Nifty share price in futures Moves Below 11902 and sustain. Then you should Sell with 1st Target of 11884 during the day or week with a Stop Loss of 11974. FOR the Target of 11884- 11858- 11832-11795

 

Bank Nifty futures trading strategy for next week

Primary Trend of Bank Nifty future for next week: Mild Negative

Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 25150, whereas All Down Moves Initiates Short Covering (Buy) @ 24200

Bank Nifty share price in the future Moves Above 24670 and sustain. Then you should Buy with the 1st Target of 24750 during the day with a Stop Loss of  24430. FOR the Target of 24750 – 24950- 25170- 25380

If Bank Nifty shares price in the future Moves Below 24430 and sustained. Then you should Sell with the 1st Target of 24340 during the day with a Stop Loss of 24670. FOR the Target of 24340- 24250- 24155 – 23950

 

FIIs and DIIs movement

 

Last week FIIs were the buyers and DIIs were the seller in the cash market segment. FIIs bought Rs 7375.72 crore and DIIs sold Rs 7800.22 crore in the cash market on the week ended 23 October. As long as FIIs are the buyers in the cash segment, the domestic market will trade in positive sentiments. Traders should follow the FIIs movement in the cash market segment to know the market trend.

 

You may also like to read, Stock Trading: Make money with these two Nifty 50 stocks

Nifty today closed above 11900, Sensex gained 127 pts

 

Happy Investing!!

Editor’s Desk

 

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