Nifty50 and Bank Nifty

Nifty & Bank Nifty NSE share price in futures for 28th April

Nifty & Bank Nifty NSE share price: Market gained on domestic and global cues

 

The Indian stock market opened on a positive note today. Sensex, Nifty, and Bank Nifty NSE share price opened in gap up as per SGX Nifty indicated. The global cues and domestic sentiments boost the Indian market sentiment in a positive note throughout the day. 

The Reserve bank of India (RBI) has announced a Rs 50,000 crores special liquidity facility for a mutual fund. This was due to the Franklin Templeton Mutual Fund decided to wind up six debt fund schemes last week.

The domestic market sentiment remained positive after the news of the Central Board of Indirect Taxes has cleared over Rs 10,700 crore worth of refunds in GST and customs duty between April 8-23rd. On the global front, the Asian markets closed in the green as the Bank of Japan (BOJ) expanded its monetary stimulus for the second straight month to support the economic and financial activities amid COVID 19

 

Sensex, Nifty and Bank Nifty NSE share price on spot level

At close, the Nifty was up by 127.90 points or 1.40% and at 9282.30 while Sensex has gained 415.86 points or 1.33% and at 31743.08. The private banks lifted the Bank Nifty NSE share price today. It has gained 494.55 points or 2.52% and closed at 20081.20.

The Nifty midcap and smallcap 100 indexes closed in the green. The Nifty midcap 100 indexes gained 198 points or 1.56% whereas the Nifty smallcap 100 was up by 32.40 or 0.82% during the day.

The top gainers in the Nifty50 index are IndusInd Bank, Britannia, Axis Bank, Bajaj Finserve, and Kotak Mahindra Bank. And the losers in the Nifty 50 stocks are M&M, NTPC, HDFC Bank, Dr. Reddy’s lab, and Grasim.

On the sectoral front, Banking & Finance, Insurance, Automobiles, Real Estate, Healthcare, and Chemical sectors are major sectors closed in green. The sectors that closed in red are Aviation, Hospitality, Manufacturing, Telecom, and logistics.

 

Nifty and Bank Nifty NSE share price in future today

The Nifty future share price opened today at 9230.55, it was up by 92.30 points. It has touched an intraday high at 9373.75 and a day’s low at 9230.55

During the day Nifty future share price has given a movement of 143.20 points. In the end, it was gained 165.95 points and closed at Rs 9304.20

The Bank Nifty NSE share price in the future opened today at 19690, it was up by 172.90 points. It has touched an intraday high at 20240 and a day’s low at 19690

During the day the Bank Nifty NSE share price in futures has given a movement of 550 points. In the end, it was up 607.9 points and closed at 20125.

 

Nifty and Bank Nifty NSE share price in futures target for 28th April 2020

Nifty Future share price target for 28th April 2020

Primary Nifty Trend in futures: Bearish

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 9410 whereas All Down Moves Initiates Short Covering (Buy) @ 9160

If Nifty futures share price Moves Above 9338 and sustain. Then you should Buy with 1st Target of 9375 during the day with a Stop Loss of 9260 FOR the Target of 9375- 9410- 9446

If Nifty futures share price Moves Below 9260 and sustain. Then you should Sell with 1st Target of 9227 during the day with a Stop Loss of 9310. FOR the Target of 9227- 9194- 9160

 

Bank Nifty NSE share price in futures target for 28th April 2020

Primary Trend of Bank nifty Future: Bearish

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 20570, whereas All Down Moves Initiates Short  Covering (Buy) @ 19800

If Bank Nifty NSE share price in futures Moves Above 20195 and sustain. Then you should Buy with 1st Target of 20346 during the day with a Stop Loss of  20015 FOR the Target of 20346 – 20460- 20570

If Bank Nifty NSE share price in futures Moves Below 20015 and sustained. Then you should Sell with 1st Target of 19920 during the day with a Stop Loss of 20195 FOR the Target of 19920 – 19790- 19640

 

Conclusions: 

Indian stock market closed in a positive note, Nifty closed above 9250 can extends its gain tomorrow if the global market supports. The sentiments of the Asian market was positive in the morning due to the stimulus package announced by the BOJ. European markets are also trading in the green today.

As this is a derivative expiry week traders need to be extra cautious, Nifty future share price has got strong resistance at 9410-9450 level. Traders should trade with strict stop loss and avoid taking overnight carry forward positions. Traders can also follow our Nifty and Bank Nifty NSE share price in futures for 28th April.

 

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