Bank Nifty futures intraday trading strategy for 18 Feb
Today’s Market Updates || Nifty & Bank Nifty futures intraday trading strategy for 18 Feb
Nifty & Bank Nifty futures intraday trading strategy for 18 Feb: Indian stock markets opened negative today tracking other Asian market peers in the morning. The key benchmarks continued to show a sluggish trend throughout the day. Sensex and Nifty traded below their psychological levels of 52000 and 15300 respectively. In the end, the markets extended their early losses and closed in the red.
The market sentiments were under pressure as loan growth is slowing across financial markets. Growth in non-food credit slipped back below the 6% mark to 5.92% YoY basis during the fortnight ended January 29 from 6.35% YoY in the previous fortnight. As of January 29, outstanding non -food credit stood at Rs 106.17 lakh crore, data from the Reserve Bank of India (RBI) showed.
Meanwhile, RBI has come out with the draft guidelines for allowing derivatives trading in the credit default swaps (CDS) in over-the-counter (OTC) markets and on recognized stock exchanges in the country.
On the global front, Asian markets were mostly closed in the red today on profit booking after the stocks went bullish on optimism of the world getting normalcy amid reduced corona cases and faster vaccine rollout. European markets are trading lower as investors are worried about British inflation that rose more than expected in January. The US future index Dow and Nasdaq futures are trading marginally lower.
Today’s market updates- Sensex, Nifty, and Bank Nifty
At the close, Nifty fell 104.55 points or 0.68%, and at 15208.90 while Sensex was down by 400.34 points or 0.76% and closed at 51703.83 levels. The Bank Nifty on the spot price declined by 187.45 points or 0.50% and ended at 36910.95 levels.
The Nifty midcap and smallcap 100 indices closed marginally higher today. The Nifty midcap gained 71.80 points or 0.31% and closed at 23388.30 levels. The smallcap index gained just 2.50 points and ended at 7977.45 levels.
The top five gainers in the Nifty50 index were Hero Motor Corp, Adani Ports, SBI, Power Grids, and NTPC. The top five losers in the Nifty50 index were Nestle, Bajaj Finserve, Asian Paints, Maruti Suzuki, and HDFC Bank. The most active stocks in the Nifty50 index for the day were SBI, Adani Ports, and Reliance.
On the sectoral front, Telecom, Infrastructure, Capital Goods, Oil & Gas, and Insurance sectors closed as top gainers. On the losing side, the sectors that closed lower were IT & Software, FMCG, Healthcare, Finance, and Chemicals.
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Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 15279 made a negative opening of 51.25 points. It has touched an intraday high at 15323.85 and a day’s low at 15165.05
The Nifty futures share price has given a movement of 158.8 points. In the end, it 139.7 points or 0.91% and closed at 15190.55 levels.
The Bank Nifty futures share price opened at 37050.05 It made a gap down opening of 168.1 points today. It has touched an intraday high at 37400.55 and a day’s low at 36820
During the day, the Bank Nifty futures share price has given a movement of 580.55 points. In the end, it declined by 288.15 points or 0.77% and closed at 36930 levels.
Nifty and Bank Nifty futures intraday trading strategy for 18 Feb ( Feb Expiry)
Nifty futures intraday trading strategy for tomorrow 18 Feb 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15250 whereas All Down Moves Initiates Short Covering (Buy) @ 15130
If the Nifty futures share price Moves Above 15228 and sustain. Then you should Buy with 1st Target of 15249 during the day with a Stop Loss of 15160 FOR the Target of 15249-15284- 15332
If the Nifty futures share price Moves Below 15160 and sustain. Then you should Sell with the 1st Target of 15129 during the day with a Stop Loss of 15364. FOR the Target of 15129- 15098 -15060
Bank Nifty futures intraday trading strategy for tomorrow 18 Feb 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37300, whereas All Down Moves Initiates Short Covering (Buy) @ 36500
Suppose Bank Nifty futures share price Moves Above 37070 and sustain. Then you should Buy with the 1st Target of 37160 during the day with a Stop Loss of 36810. FOR the Target of 37160 – 37280- 37450
If the Bank Nifty futures share price Moves Below 36810 and sustained. Then you should Sell with the 1st Target of 36692 during the day with a Stop Loss of 37070. FOR the Target of 36692 – 36585- 36470
Conclusions:
Indian stock markets traded below their neutral lines throughout the day amid negative cues from other Asian markets. The broader markets closed in the green today. Investors should take advantage of the healthy correction in the markets and accumulate good quality stocks on the dip.
Going ahead Indian stock market will trade as per the global market cues. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures intraday trading strategy for 18 Feb 2021.
Also read, How to trade Nifty & Bank Nifty futures next week
Best shares to buy today for the short term || Feb 2021
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