Nifty & Bank Nifty futures for next week ( 26- 30 April)
Key factors that may impact Nifty and Bank Nifty futures next week (26 April -30 April )
Nifty & Bank Nifty futures next week ( 26-30 April ): Indian stock markets closed almost 2 percent lower during the week ended 23 April. Markets fell for the third consecutive week due to the rise in coronavirus infection and strict restrictions imposed in several states. The weakness in the global markets, FIIs outflow, and revised GDP forecast by the global brokerage house are other factors that impacted the Indian market sentiments last week. The markets will now focus on the corporate earnings and FOMC meeting scheduled for the next week.
The key factors that may impact the Nifty and Bank Nifty futures for the next week are
Domestic events for next week
Next week, there is no major event scheduled for the domestic market, except for infrastructure output data that will be released on Friday 30 April. The earning season has just started, there are twelve Nifty50 companies that will announce their Q4 results. The Nifty50 companies that are going to announce their Q4 results in the next week are given below.
| Q4 Results dates for Nifty50 Stocks | |
| 26 Apr | HDFC Life |
| 26 Apr | Tech Mahindra |
| 27 Apr | Axis Bank |
| 27 Apr | Bajaj Finance |
| 27 Apr | Britannia |
| 27 Apr | Maruti Suzuki |
| 28 Apr | Bajaj Finserve |
| 29 Apr | Baja Auto |
| 29 Apr | Hindustan Unilever |
| 29 Apr | Titan Company |
| 30 Apr | IndusInd Bank |
| 30 Apr | Reliance |
Global market cues
The global markets were volatile last week, mostly closed in the negative territory during the week ended 23 April. Next week global markets will remain cautious ahead of the FOMC meeting outcome. There are some other important macroeconomic data that are going to impact the global markets next week are
| Important Global Macro Data Next Week | ||
| 27 Apr 2021 | BOJ Interest rate decision | Japan |
| 28 Apr 2021 | Retail Sales YoY March | Japan |
| 28 Apr 2021 | Fed Interest rate decision | US |
| 29 Apr 2021 | GDP Growth rate QoQ Adv Q1 | US |
| 29 Apr 2021 | US jobless claim 4 weeks avg | US |
| 30 Apr 2021 | Unemployment rate Mar | Japan |
| 30 Apr 2021 | Tokyo CPI Apr/ Industrial production March | Japan |
| 30 Apr 2021 | Jibun Bank Manufacturing PMI April | Japan |
| 30 Apr 2021 | NBS Manuf/Non-Manufacturing PMI April | China |
Nifty and Bank Nifty futures next week (26 April – 30 April)
Nifty futures prediction for the week ( 26 April – 30 April )
Primary Trend of Nifty futures for next week: Negative
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 14500 whereas All Down Moves Initiates Short Covering (Buy) @ 14150
Suppose Nifty share price in futures Moves Above 14360 and sustain. Then you should Buy Nifty futures with 1st Target of 14407 during the day or week with a Stop Loss of 14280 FOR the Target of 14407-14446-14503- 14550
Suppose Nifty share price in futures Moves Below 14280 and sustain. Then you should Sell with the 1st Target of 14240 during the day or week with a Stop Loss of 14360. FOR the Target of 14240- 14190- 14150 -14048
Bank Nifty trend for next week ( 26 April – 30 April )
Primary Trend of Bank Nifty future for the week: Negative
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 32300, whereas All Down Moves Initiates Short Covering (Buy) @ 31000
Suppose Bank Nifty share price in the futures Moves Above 31850 and sustain. Then you should Buy Bank Nifty futures with the 1st Target of 32046 during the day or week with a Stop Loss of 31430. FOR the Target of 32046 – 32350- 32510- 32860
If Bank Nifty shares price in the future Moves Below 31430 and sustained. Then you should Sell with the 1st Target of 31260 during the day or week with a Stop Loss of 31850. FOR the Target of 31260- 31080- 30920 – 30560
FII & DIIs investment in Indian stock markets
Foreign Institutional Investors (FIIs) have pulled out Rs 4986.35 crores and Domestic Institutional investors have invested Rs 6224.14 crores in the cash market segment during the week ended 23 April. On a monthly basis, FIIs sold Rs 8236.62 crores while DIIs invested 7689.45 crores in the cash market segment.
FIIs have turned seller after six months due to the rise in coronavirus infections and on fears of its impact on the Indian economy. Whereas DIIs have turned buyers after five months in the cash market.
Coronavirus risk & Vaccination
The recent downtrend in the domestic stock markets is due to the surge in coronavirus cases in the country. Investors and traders fear that the second wave of coronavirus is likely to hit the economic growth but so far its extend is unknown. FIIs started to withdraw money from the cash market segment due to the recent surge. The foreign brokerage houses have also started to trim the GDP forecast of the country. The domestic markets may react sharply once the potential damage is known through economic data in the coming days.
India reported more than 3.4 lakh new coronavirus infections on Saturday. Maharashtra continued to be the most affected state with more than 66 thousand new cases. The other states that affected the most are Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Uttar Pradesh, and Delhi. In the global tally, the US is the most affected country followed by India, Brazil, France, and Russia. However, in the last seven days, India added the highest number of coronavirus cases followed by the US and Turkey.
On the vaccine front, as many as 13.83 crores vaccine has been administered so far in India.
You can also read daily morning market updates before the markets get open and Nifty and Bank Nifty futures levels on daily basis.
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Happy Investing!!
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