Sensex, Nifty, and Bank Nifty share price closed flat, prediction for 1st Oct

 

Indian benchmark indices traded flat after opening positive today. In the morning the Bank Nifty share price slipped below its yesterday’s close but later recovered and closed almost flat. At close, there were 24 stocks in advance and 26 on declines in the Nifty 50 index.

The market sentiments were negative with the private report stated that the spillover effect of the strict lockdown measures will continue to undermine the economic growth of the country. The report also said that even if the growth takes in form of V-Shape, the level of GDP will matter. 

Some concerns also came after Nobel Laureate Abhijit Banerjee made a statement that India is among the worst-performing economies in the world. He has also added that government fiscal stimulus measures are inadequate to uplift the economy at present.

On a global front, Asian markets were closed mixed today even after China’s latest survey shows the positive manufacturing data for the month of September. The European markets are trading lower due to surging coronavirus cases in the continent. The US market’s future indices Dow and Nasdaq futures are trading lower after yesterday’s chaotic debate that highlighted risk from the US presidential election.

 

Sensex, Nifty, and Bank Nifty share price today on the spot levels

 

At the close, the Nifty gained 25.15 points or 0.23% and at 11247.55 levels while Sensex gained 94.71 points or 0.25% and closed at 38067.93 levels. The Bank Nifty share price on the spot levels also closed higher by 40.50 points or 0.19% and ended at 21451.80 levels.

The Nifty midcap and smallcap 100 indies closed mixed today. The Nifty midcap index marginally gained by 9.45 points or 0.06% and closed at 16983.05. The smallcap index closed lower by 16.45 or 0.28% and closed at 5822.95 levels.

Grasim, Tech Mahindra, Titan Company, Shree Cement, and Dr. Reddy’s lab are closed as the top gainers in the Nifty50 index. On the losing side BPCL, Bharti Airtel, Tata Steel, JSW Steel, and HDFC Life closed as top losers. The most active stocks for the day in NSE were Dr. Reddy, Reliance, and BPCL.

On a sectoral basis, FMCG, Manufacturing, Capital goods, Chemicals, and IT & Software closed in the green. On the other hand, Metals & Mining, Telecom, Oil & Gas, Insurance and Power closed in the red today. The stocks related to the Chemical sector remained in focus today as Chemical & Fertilisers Minister D V Sadananda Gowda invited investors to invest in the chemical sector which has huge potential. 

Nifty and Bank Nifty futures share price today

 

The  Nifty share price in futures opened at 11249.95, and it made a positive opening of 15.95 points today. It has touched an intraday high at 11294.80 and a day’s low at 11195

The Nifty share price in futures price has given a movement of 99.80 points. In the end, it fell 9.6 points and closed flat to positive at 11244.30 levels.

The Bank Nifty share price in futures opened at 21423.25 It was made a negative opening of 26.95 points. It has touched an intraday high at 21580.60 and a day’s low at 21141.20

During the day, the Bank Nifty share price in futures has given a movement of 439.40 points. In the end, it declined by 15.2 points and closed flat to negative at 21435 levels

 

Nifty, Bank Nifty share price prediction in futures for 1st Oct ( Oct Expiry)

 

 

Nifty share price prediction in futures for 1st Oct 2020

Primary Nifty Trend in futures: Range-Bound

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11320 whereas All Down Moves Initiates Short Covering (Buy) @ 11190

If the Nifty share price in futures Moves Above 11272 and sustain. Then you should Buy with 1st Target of 11294 during the day with a Stop Loss of 11194. FOR the Target of 11294- 11318- 11345

If the Nifty share price in futures Moves Below 11194 and sustain. Then you should Sell with 1st Target of 11170 during the day with a Stop Loss of 11272. FOR the Target of 11170- 11145 -11095

 

Bank Nifty share price prediction in futures, 1st Oct  2020

Primary Trend of Bank Nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21900, whereas All Down Moves Initiates Short  Covering (Buy) @ 21400

If Bank Nifty futures share price Moves Above 21630 and sustain. Then you should Buy with 1st Target of 21750 during the day with a Stop Loss of  21380. FOR the Target of 21750 – 21825- 22040

If Bank Nifty futures share price Moves Below 21380 and sustained. Then you should Sell with 1st Target of 21290 during the day with a Stop Loss of 21630. FOR the Target of 21290 – 21192- 21070

 

Conclusions:

Indian markets closed flat for the second consecutive trading session today. The market was trading slightly volatile in a tight range due to lots of uncertainties in the market. The global traders remained cautious about the US presidential election and rising coronavirus cases in European countries. The positive macro data from the Asian countries have somewhat encouraged the domestic market to close in the green today.

Traders can also follow our Daily Morning market views.

 You can check out the latest charting platform for your strategy here and also follow our Nifty and Bank Nifty share price prediction in futures for tomorrow 1st Oct.

 

Also read, Algo Trading Definition: Pros and Cons of Algorithmic trading

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Editor’s Desk

 

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