Nifty & Bank Nifty prediction for tomorrow 22 April
Nifty & Bank Nifty prediction for tomorrow 22 April: Indian stock markets opened higher on Tuesday and managed to trade in the green terrain most of the day amid mixed cues from other Asian markets. In the last hour, markets erased all early gains on the back of selling in the IT, FMCG, and Banking sectors and closed in the red.
The markets sentiments were positive in the morning as the Minister of Commerce & Industry Piyush Goyal launched the startup India seed Fund Scheme (SISFS). The aim is to provide financial assistance to startups for proof of concept, prototype development, product trails, market-entry, and commercialization.
However, the early gains were erased in the market as market participants got cautious after the Reserve Bank of India (RBI) has said it has decided not to activate the countercyclical capital buffer (CCyB) framework as the current situation does not warrant such an action. The RBI in February 2005 had put in place CCyB guidelines with the overall objectives of strengthening the banking sector. It was envisaged that the CCyB would be activated as and when the circumstances warranted.
Market updates 20 April: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 63.05 points or 0.43 percent and closed at 14296.40 levels while Sensex was down by 243.62 points or 0.50 percent and finished at 47705.80 levels. The Bank Nifty on the spot price erased all intraday gains and closed lower by 95.70 points or 0.30 percent and ended at 31112.70 levels.
The midcap and smallcap indices closed in the green today. The Midcap index gained 48 points or 0.21 percent and closed at 23304.35 levels. The smallcap index was up by 75.65 points or 0.94 percent and finished at 8141.15 levels.
The top five gainers in the Nifty50 index were Dr. Reddy’s Lab, Bajaj Finserve, Bajaj Finance, HDFC Life, and Bajaj Auto. The top five losers in the Nifty50 index were Ultratech Cement, HCL Tech, HDFC, Grasim, and Shree Cement. The most active stocks in the Nifty50 index were Dr. Reddy’s Lab, HDFC, and Tata Motors.
On the sectoral front, Insurance, Healthcare, Consumer Durables, Real Estates, and Automobiles sectors closed in the green. On the losing side, IT & Software, FMCG, Banking, and Construction materials sectors closed in the red today.
Nifty and Bank Nifty futures price movement today, 20 April 2021
The Nifty futures price opened at 14502.30 made a positive opening of 128.15 points. It has touched an intraday high at 14535.50 and a day’s low at 14225.55
The Nifty futures price has given a movement of 309.95 points today. In the end, it declined 84.15 points or 0.59 percent and ended at 14290 levels.
The Bank Nifty futures price opened at 31589 It made a gap-up opening of 349.3 points today. It has touched an intraday high at 31784.30 and a day’s low at 30917
During the day, the Bank Nifty futures price has given a movement of 867.3 points. In the end, it closed lower by 124.25 points or 0.40 percent and closed at 31115.45 levels.
Nifty & Bank Nifty futures prediction for tomorrow 22 April ( April Expiry)
Nifty futures prediction for tomorrow 22 April 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14350 whereas All Down Moves Initiates Short Covering (Buy) @ 14100
If the Nifty futures share price Moves Above 14352 and sustain. Then you should Buy with 1st Target of 14409 during the day with a Stop Loss of 14225 FOR the Target of 14409-14465- 14510
If the Nifty futures share price Moves Below 14225 and sustain. Then you should Sell with the 1st Target of 14175 during the day with a Stop Loss of 14352. FOR the Target of 14175- 14110 -14050
Bank Nifty futures prediction for tomorrow 22 April 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31400, whereas All Down Moves Initiates Short Covering (Buy) @ 30800
Suppose Bank nifty share price in futures Moves Above 31310 and sustain, then you should Buy with the 1st Target of 31398 during the day with a Stop Loss of 31000. FOR the Target of 31398 – 31720 – 31880
If Bank nifty share price in the futures Moves Below 31000 and sustained, then you should Sell with the 1st Target of 30770 during the day with a Stop Loss of 31310. FOR the Target of 30770 – 30585 – 30405
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Global markets today
On the global fronts, Asian markets were closed mixed today after China kept its benchmark lending rates unchanged as widely expected. European markets are trading lower today after hitting record highs a day earlier, as tobacco companies weighed on UK stocks. The US futures indices, Dow, and Nasdaq futures are trading lower at this time ( 5 pm IST)
Conclusions
Indian stock markets fell for the second consecutive day today due to the profit booking at the higher levels. Markets erased all early gains due to weak global cues and fears of strict lockdown in Maharashtra. Tomorrow Indian stock markets will be closed on account of Ram Navami.
You can also follow our daily morning market updates report and Nifty and Bank Nifty futures prediction for tomorrow 22 April.
Also read, What is SGX Nifty? Can Indian trade in SGX Nifty?
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