Key factors that may influence markets, Nifty & Bank Nifty futures trading view for next week

 

Nifty & Bank Nifty futures trading view (14-18 Dec): Indian equity benchmark indices outperformed the global peers on the week ended 11 December and closed in the positive zone. The Nifty and Sensex hit a record high and closed sixth consecutive weekly gains last Friday. Coronavirus vaccine news, FIIs inflow helped the domestic market to trade higher during the week. You can also read last week’s market updates here.

In the coming week, other than the Coronavirus vaccine news, FIIs inflow FOMC meeting the key factors that may influence the markets are as follows

 

Coronavirus risk and vaccine updates

 

In Indian decreasing coronavirus cases helped the market sentiments to remain upbeat in the last week. Though cases are increasing in the US, Europe, Japan, and some other countries in the world but the news of the vaccination in the UK has cheered the markets globally. The US government has also given approval for the emergency use of the vaccine developed by Pfizer to prevent the spread of a new wave of coronavirus.

The total coronavirus confirmed cases in India are so far recorded at  98.57 lakhs with the death of 1.43 lakhs people. There are 3,72293 active cases in the country which comprise 3.81% of the total cases. The recovery rate has now increased to 94.74%.

As per the CEO of Serum Institute Adar Poonawala, the vaccination drive in India will start from January onwards. Coronavirus vaccine will be available in the private market by March-April 2021. The news of the vaccination drive in India can create a positive sentiment in the market. Investors/traders should closely watch out for news or development on this front.

 

Technical levels-Nifty, Bank Nifty futures trading view (14- 18 Dec)

 

Nifty futures trading view for the week

Primary Trend of Nifty futures for the week: Range-bound

Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 13650 whereas All Down Moves Initiates Short Covering (Buy) @ 13370

If Nifty share price in futures Moves Above 13562 and sustain. Then you should Buy with 1st Target of 13605 during the day or week with a Stop Loss of 13465 FOR the Target of 13605- 13649- 13694- 13780

Suppose Nifty share price in futures Moves Below 13465 and sustain. Then you should Sell with the 1st Target of 13420 during the day or week with a Stop Loss of 13562. FOR the Target of 13420- 13370- 13325 -13235

 

Bank Nifty futures trading view for the week

Primary Trend of Bank Nifty future for the week: Mild-Negative

Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 30900, whereas All Down Moves Initiates Short Covering (Buy) @ 30000

If Bank Nifty share price in the futures Moves Above 30750 and sustain. Then you should Buy with the 1st Target of 30880 during the day with a Stop Loss of  30470. FOR the Target of 30880 – 31018- 31140- 31400

If Bank Nifty shares price in the future Moves Below 30470 and sustained. Then you should Sell with the 1st Target of 30350 during the day with a Stop Loss of 30750. FOR the Target of 30350- 30218- 30080 – 29840

 

Global market cues

 

Next week, the global market will set the direction for the Indian markets. There are a few important events that lined up for the next week which may decide the market direction. The first vaccine authorization in the US, FOMC meeting, Brexit deadline, macroeconomic data are some events that may decide the market direction. The important macro data that are going to announce in the coming week are as given below

 

Important Global Macro Data Next Week
14 Dec	Industrial Production	Japan
15 Dec	Industrial Production	China
15 Dec	Industrial Production	US
16 Dec	Balance of Trade	Japan
16 Dec	Service & Manufacturing PMI	Japan
	Service & Manufacturing PMI	US
	Service & Manufacturing PMI	GB
17 Dec	FOMC Meeting	US
17 Dec	BOE Interest rate decision	GB
18 Dec	Inflation rate	Japan
	BOJ Interest rate decision	Japan

 

Macroeconomic data for next week in India

 

Indian’s Industrial production data came better than expected last Friday during post-market hours. As per the data released by the Ministry of Statistics and Programme Implementation, India’s Industrial output rose for the second straight month after six months of contraction.

The Index of Indiandustrial Production (IIP) rose by 3.6% in October 2020 compared to last year’s same period. IIP rose by 0.5% in September as compared to the 0.2% estimated earlier. Indian market may react positively to the IIP data. Other macroeconomic data that are going to release next week are:

 

Macro Data Next Week
14 Dec	WPI & CPI Inflation
15 Dec	Balance of trade
18 Dec	Bank Loan & Deposit Growth
	Foreign Exchange Reserve

FII & DIIs investment

 

FIIs were the buyers and DIIs were the seller in the cash market segment during the week ended 11 December. On a weekly basis, FIIs bought Rs 16721.29 crore whereas DIIs sold Rs 12525.34 crores in the cash segment.

On a monthly basis in December, FIIs bought Rs 26927.65 crore and DIIs sold Rs 18625.86 crores in the cash market. Indian markets touched a new record high is due to FIIs fund flow in the cash market segment. As long as FIIs are buying in the Indian markets, sentiment will remain positive.

 

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Happy Investing!!

Editor’s Desk

 

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