Nifty, Bank Nifty futures closed Nov F&O series on a positive note, read prediction for 27 Nov

 

Nifty & Bank Nifty futures prediction for 27 Nov: Indian stock markets opened on a positive note on Thursday and traded volatile on the first half of the day. Markets turned positive in the late noon session and extended their early gains. In the end, the benchmark indices closed almost 1% higher.

Market traders took support after the Reserve Bank of India (RBI) Governor Shaktikanta Das has said the country’s economy has recovered stronger than expected from the initial impact of the Covid-19 pandemic. Market sentiment also got boosted with the private report that the Indian economy is likely to have improved in the second quarter with GDP printing in at -7.8% as against 23.9 contractions in the previous quarter.

On the global front, Asian markets are mostly closed in the positive today. European markets are trading mixed today while the US futures indices are trading flat to positive notes.

 

Markets today- Sensex, Nifty, and Bank Nifty on spot levels.

 

At the close, Nifty gained 128.60 points or 1.01%, and at 12987 whereas Sensex up by 431.64 points or 0.99% and at 44259.74 levels. The Bank Nifty on the spot levels also closed higher by 353.35 points or 1.22% and at 29549.75 levels.

The Nifty smallcap and midcap 100 indices also closed higher today. The midcap index gained 163.85 points or 0.86% and at 19196.45 levels. The smallcap index was also up by 54.20 points or 0.86% and at 6377.40 levels

JSW Steel, Tata Stee, Grasim, Hindalco, and Shree Cement are closed as top gainers in the Nifty 50 index today. The top losers in the Nifty50 index for the day are Eicher Motors, BPCL, Maruti Suzuki, ONGC, and HDFC Life. Bajaj Finance, Reliance, and Axis Bank were the most active stocks in the NSE today.

On a sectoral basis, all major sectors closed in the green today, Metals, Capital Goods, Banking & Finance, Healthcare, and Infrastructure were closed as gainers. On the losing side, Manufacturing, Aviation, and Retail sectors closed lower.

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 12920.65, it made a gap up opening of 61.40 points. It has touched an intraday high at 12998 and a day’s low at 12785.20

The Nifty futures share price has given a movement of 212.8 points. In the end, it gained 127.75 points or 0.99% and closed at 12986.90 levels.

The Bank Nifty futures share price opened at 29300.05 It made a gap up opening of 91.35 points today. It has touched an intraday high at 29626.80 and a day’s low at 28901.10

During the day, the Bank Nifty futures share price has given a movement of 725.7 points. In the end, it gained 346.05 points or 1.18% and closed at 29554.75 levels.

 

Nifty and Bank Nifty futures prediction for 27 Nov ( Dec Expiry)

 

 

Nifty futures prediction for 27 Nov 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 13150 whereas All Down Moves Initiates Short Covering (Buy) @ 12970

If the Nifty futures share price Moves Above 13085 and sustain. Then you should Buy with 1st Target of 13118 during the day with a Stop Loss of 13025 FOR the Target of 13118- 13148- 13182

If the Nifty futures share price  Moves Below 13025 and sustain. Then you should Sell with the 1st Target of 12970 during the day with a Stop Loss of 13085. FOR the Target of 12970- 12908 -12880

 

 

Bank Nifty futures prediction, 27 Nov  2020

Primary Trend of  Bank Nifty Futures: Mild Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 30100, whereas All Down Moves Initiates Short  Covering (Buy) @ 29300

Suppose Bank Nifty futures share price Moves Above 29830 and sustain. Then you should Buy with the 1st Target of 29918 during the day with a Stop Loss of  29450. FOR the Target of 29918 – 30020- 30135

If the Bank Nifty futures share price Moves Below 29450 and sustained. Then you should Sell with the 1st Target of 29338 during the day with a Stop Loss of 29830. FOR the Target of 29338 – 29225- 29000

Conclusions:

Indian markets bounced back after yesterday’s fall. The markets were volatile in the first half, buying in commodity and banking stocks were witnessed in the second half. Investors will remain cautious tomorrow ahead of the quarterly GDP data announcement.

Traders can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 27 Nov.2020.

 

Also read, Coronavirus impact on various sectors & Indian economic growth

                 Best Stock market Books to gain knowledge and make money

 

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Editor’s Desk

 

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