How to trade Nifty & Bank Nifty futures next week
Key factors that may impact Nifty & Bank Nifty futures next week
Nifty & Bank Nifty Futures next week: Indian stock markets closed higher by 1.6% in the week ended 12 February. The broader markets Nifty midcap and smallcap indices outperformed the benchmark during the week. The domestic markets gained with the support of positive global cues, FIIs inflow, and strong quarterly earnings
As there are no major events scheduled in the next week, the market may see some consolidation or short-term correction. The key factors that will drive the market and may impact the indices Sensex, Nifty, and Bank Nifty futures next week are
Economic data
On Friday post-market, the Ministry of Statistics & Program Implementation (MoSPI) released a better than expected CPI and IIIP data. Indian markets will definitely react positively on Monday to the CPI & IIP data released. The key economic data that are going to release next week are given below.
| Macro Data Next Week | |
| 15 Feb 2021 | WPI number |
| 15 Feb 2021 | Exports & Imports number |
| 15 Feb 2021 | Balance of Trade |
| 19 Feb 2021 | Foreign Exchange Reserve |
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Nifty and Bank Nifty futures prediction for the week (15- 19 Feb)
Nifty futures prediction for the week ( 15-19 Feb)
Primary Trend of Nifty futures for the week: Positive
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 15250 whereas All Down Moves Initiates Short Covering (Buy) @ 15030
If Nifty share price in futures Moves Above 15203 and sustain. Then you should Buy with 1st Target of 15241 during the day or week with a Stop Loss of 15116 FOR the Target of 15241- 15284- 15322- 15403
Suppose Nifty share price in futures Moves Below 15116 and sustain. Then you should Sell with the 1st Target of 15070 during the day or week with a Stop Loss of 15203. FOR the Target of 15070- 15032- 14990-14908
Bank Nifty futures prediction for the week ( 15-19 Feb)
Primary Trend of Bank Nifty future for the week: Positive
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 36950, whereas All Down Moves Initiates Short Covering (Buy) @ 35800
If Bank Nifty share price in the futures Moves Above 36432 and sustain. Then you should Buy with the 1st Target of 36570 during the day with a Stop Loss of 36040. FOR the Target of 36570 – 36710- 36960- 37270
If Bank Nifty shares price in the future Moves Below 36040 and sustained. Then you should Sell with the 1st Target of 35930 during the day with a Stop Loss of 31450. FOR the Target of 35930- 35810- 35625 – 35480
Global market cues
The global market was positive last week. The US markets gained last week due to vaccine rollout, subdued inflation, fell in the jobless claim, and hopes of a larger stimulus package. The European markets were volatile but closed higher during the week. The slowdown in coronavirus cases, vaccine rollout, and expectation of larger US stimulus aid created positive sentiments in the European markets even after the news of a 9.9% contraction in the UK economy. The Japanese stock market gained during the week. The Chinese stock market also rallied ahead of the Lunar New Year holiday.
In the coming week, there are no major events scheduled for the global markets. Traders should closely monitor and keep update the news on vaccine rollout and US stimulus package other than the below microeconomic data
| Important Global Macro Data Next Week | ||
| 15 Feb 2021 | GDP Growth Rate/ Ind. Production | Japan |
| 17 Feb 2021 | Inflation rate | GB |
| 17 Feb 2021 | Industrial Production | US |
| 18 Feb 2021 | Initial jobless claim | US |
| 19 Feb 2021 | Inflation rate | Japan |
| 19 Feb 2021 | Manufacturing PMI flash | Japan/GB/US |
| 19 Feb 2021 | Service PMI flash | Japan/GB/US |
FII & DIIs investment in Indian stock markets
Last week the markets closed positive with the support of FIIs buying. Weekly basis, FIIs bought Rs 5871.25 crores and DIIs sold Rs 5642.08 crores in the cash market segment. On the last day of the week,12 February FIIs position was negative in the cash market. On Friday both FIIs and DIIs sold in the cash market. FIIs sold Rs 37.33 crores while DIIs sold Rs 597.62 crores in the cash market segment.
Traders should closely monitor FII’s investment in the cash market. If FIIs turned seller then the market may see some correction.
Coronavirus risk & Vaccination
India report around 12k new coronavirus cases in the last 24 hrs with a recovery rate of 97.31% and a fatality rate of 1.43%. The total coronavirus active cases also fell to 1.36 L from 1.5L in the previous week. The slowdown in coronavirus cases has lifted the market sentiments so far. In the past few days, there is a spike seen in fresh coronavirus cases in Kerela and Maharastra. Traders need to closely watch out for the news on this front as it may stop the northward journey of Indian markets.
The second phase of coronavirus vaccination has started on 13 February for the health workers in the country. So far 66% of the health workers have reported mild side effects post-vaccination.
You can also read daily morning market updates before the markets get open and Nifty and Bank Nifty futures predictions on daily basis.
You may also like to read, Intraday Trading books to make money from Stock Markets
Best shares to buy today for the short term || Feb 2021
Happy Investing!!
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