Nifty | Bank Nifty futures prediction for the week (8-12 Feb)
Key factors that may impact Nifty & Bank Nifty futures next week (8-12 Feb)
Market prediction next week ( 8- 12 Feb)- Nifty & Bank Nifty futures: Indian markets made the biggest weekly gains after the fall in the previous week. Foreign Institutional Investors (FIIs) have become buyers in the last week after the Union Budget 2021 presented. The other factors that helped the markets to make the biggest weekly gain last week were better than expected PMI data, decent auto sales numbers, positive global cues, and corporate earnings.
The key factors that may impact Nifty & Bank Nifty futures next week ( 8- 12 Feb) are
Quarterly earnings: Nifty 50 Companies
Most of the Nifty50 companies have already announced their December end quarter earnings. This week there are eight Nifty50 listed companies that will announce their third quarterly results along with more than 1000 mid and small-cap size companies. The schedule is mentioned below :
| Q3 Results dates for Nifty50 Stocks | |
| 8 Feb | BPCL |
| 9 Feb | Adani Ports |
| 10 Feb | GAIL |
| 10 Feb | Hindalco |
| 10 Feb | Titan Company |
| 11 Feb | Coal India |
| 11 Feb | ITC |
| 11 Feb | Power Grid |
Economic data
The key economic data that are going to release next week are given below.
| Macro Data Next Week | |
| 12 Feb 2021 | Inflation Rate |
| 12 Feb 2021 | Industrial Production |
| 12 Feb 2021 | Bank loan growth |
| 12 Feb 2021 | Foreign Exchange Reserve |
Nifty and Bank Nifty futures prediction for the week (8- 12 Feb)
Nifty futures prediction for the week ( 8-12 Feb)
Primary Trend of Nifty futures for the week: Positive
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 15100 whereas All Down Moves Initiates Short Covering (Buy) @ 14850
If Nifty share price in futures Moves Above 14980 and sustain. Then you should Buy with 1st Target of 15014 during the day or week with a Stop Loss of 14902 FOR the Target of 15014- 15048- 15082- 15153
Suppose Nifty share price in futures Moves Below 14902 and sustain. Then you should Sell with the 1st Target of 14870 during the day or week with a Stop Loss of 14980. FOR the Target of 14870- 14835- 14795-14730
Bank Nifty futures prediction for the week ( 8-12 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) @ 36500, whereas All Down Moves Initiates Short Covering (Buy) @ 35000
If Bank Nifty share price in the futures Moves Above 35995 and sustain. Then you should Buy with the 1st Target of 36216 during the day with a Stop Loss of 35650. FOR the Target of 36216 – 36445- 36770- 36950
If Bank Nifty shares price in the future Moves Below 35650 and sustained. Then you should Sell with the 1st Target of 35330 during the day with a Stop Loss of 35995. FOR the Target of 35330- 35120- 34875 – 34700
Global market cues
Almost all major global indices surged last week after the previous week’s fall. Last week global markets gained mainly on the hopes of US stimulus, speedy economic recovery, easing of lockdown restrictions in European countries, and pace in coronavirus vaccination. In the coming week the important global economic data that an investor should watch out for are;
| Important Global Macro Data Next Week | ||
| 10 Feb 2021 | Inflation rate | China, US |
| 11 Feb 2021 | Jobless Claims | US |
| 12 Feb 2021 | GDP Growth rate | GB |
| 12 Feb 2021 | Industrial Production | GB |
FII & DIIs investment in Indian stock markets
Foreign Institutional Investors (FIIs) have reversed their position and have given thumbs up to the Union Budget last week. On a weekly basis, FIIs were the buyers and DIIs were the seller in the cash market. FIIs bought Rs 12133.45 crores and DIIs sold Rs 3293.95 crores in the cash segment.
Indian markets will touch a new record high if the FIIs inflow continues, traders need to keep a close eye on FIIs investments.
Coronavirus risk & Vaccination
Coronavirus cases continued to decline in India. The average number of new cases in India is around 12000, the active cases dropped to below 1.5 Lakh in India. The recovery rate is improving to 97.19% with the mortality rate at 1.43%. India is showing a declining trend in coronavirus cases for the last four months and it helped the markets to trade higher.
The vaccination drive that started on 16 January has vaccinated more than 54 lakh health workers so far. The second dose of the vaccine will be administered from 13 February. So far there is positive news on the coronavirus and vaccination front but investors should closely monitor the news on this front.
Conclusions:
There are no major events scheduled for the next week, we may see consolidation in the markets. Investors should accumulate good stocks on dips and should trade with strict stop loss.
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Happy Investing!!
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