Nifty,Bank Nifty futures prediction for 5 Jan 2021
Indian markets closed at a record high today, Nifty and Bank Nifty futures prediction for 5 Jan 2021
Nifty & Bank Nifty futures prediction 5 Jan 2021: Indian equity markets opened strong in the morning as indicated by the SGX Nifty. The markets erased most of their gains in the late morning and later bounced back after the announcement of Markit Manufacturing PMI data. In the end, benchmark indices closed at the record-high levels.
The market sentiments got boosted after the report shows that India’s manufacturing sectors continued to strengthen in the month of December. Data released by an analytics firm IHS Markit showed the Purchasing Manager’s Index (PMI) for the manufacturing sector picked up marginally in December to 56.4 from 56.2 recorded the previous month. A figure above 50 indicates expansion while below 50 indicates contraction.
On the global front, Asian markets were mostly closed in the green today. Nikkei closed in the red even after the manufacturing sector of Japan improved in December to a level of stability as per the latest survey shown by Jibun Bank on Monday. The European markets and U.S futures are trading in the green at 4 pm IST.
Today’s Market- Nifty, Sensex, and Bank Nifty on spot levels
At the close, Nifty gained 114.40 points or 0.82% and at 14132.90 levels while Sensex climbed 307.82 points or 0.65% and at 48176.80 levels. The Bank Nifty on the spot levels closed marginally lower by 13.40 points or 0.04% and at 31,212.45
The Nifty midcap and smallcap 100 indices outperformed the benchmark indices today. The midcap index gained 297.55 points or 1.41% and at 21388.50 level. The smallcap index closed higher by 88.40 points or 1.23% and at 7258.15 level.
The top five gainers in the Nifty50 index for the day were Tata Steel, Hindalco, Eicher Motor, ONGC, and TCS. The top five losers for the day in the Nifty 50 index are Hero Motorcop, Kotak Mahindra Bank, Bajaj Finance, Asani Ports, and Asian Paints. The most active stocks for the day in NSE were Tata Steel, Reliance, and TCS.
On a sectoral basis, almost all major sectors closed in the green today except for Banking. Metals & Mining sector gained above 4% today followed by IT & Software, Automobiles, Capital Goods, and Real Estate. Banking sectors closed marginally lower today.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 14100, it made a positive opening of 46.15 points. It has touched an intraday high at 14179.45 and a day’s low at 13970.05
The Nifty futures share price has given a movement of 209.4 points. In the end, it gained 119.5 points or 0.85% and closed at 14173.35 levels.
The Bank Nifty futures share price opened at 31450.25 It made a positive opening of 140.9 points today. It has touched an intraday high at 31599 and a day’s low at 30930.80
During the day, the Bank Nifty futures share price has given a movement of 668.2 points. In the end, it closed higher by 62.25 points or 0.20% and closed at 31371.60 levels.
Nifty and Bank Nifty futures prediction for 5 Jan ( Jan Expiry)
Nifty futures prediction for 5 Jan 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14250 whereas All Down Moves Initiates Short Covering (Buy) @ 14125
If the Nifty futures share price Moves Above 14185 and sustain. Then you should Buy with 1st Target of 14216 during the day with a Stop Loss of 14118 FOR the Target of 14216-14245- 14280
If the Nifty futures share price Moves Below 14118 and sustain. Then you should Sell with the 1st Target of 14081 during the day with a Stop Loss of 13990. FOR the Target of 14081- 14025 -13980
Bank Nifty futures prediction, 5 Jan 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31800, whereas All Down Moves Initiates Short Covering (Buy) @ 31100
Suppose Bank Nifty futures share price Moves Above 31510 and sustain. Then you should Buy with the 1st Target of 31650 during the day with a Stop Loss of 31295. FOR the Target of 31650 – 31820- 31960
If the Bank Nifty futures share price Moves Below 31295 and sustained. Then you should Sell with the 1st Target of 31110 during the day with a Stop Loss of 31510. FOR the Target of 31110 – 31000- 30840
Conclusions:
Indian stock markets started the week on a strong note. The progress on the coronavirus vaccine, positive PMI data, and Asian market cues helped the domestic market to close at a record high. The midcap and smallcap outshine the benchmark indices today. The market is ‘Buy on Dip’ as seen in today’s market, every dip traders are considering a buying opportunity.
Going ahead, progress on the vaccine, corporate earnings, and global market cues will derive the market. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 5 Jan 2021.
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