Nifty & Bank Nifty share price target in futures for 30th April

 

Nifty & Bank Nifty Share Price for 30th April: Indian stock market has extended its gains for the third consecutive trading session. Indian market got support from the Asian and European markets and domestic cues also added fuel to trade higher for the day.

The sentiment got positive after the news that the Finance Minister Nirmal Sitharaman is likely to announce a stimulus package for the economy this week. This would be the second stimulus after a nationwide lockdown due to COVID 19. 

On the other hand, traders ignored Moody’s Investor Service report which has cut India’s growth forecast to 0.2% from 2.5% projected in March for the calendar year 2020. For 2021, Moody has expected India’s growth to rebound to 6.2%

 

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

At close, Nifty gained 155.25 points or 1.66% and at 9536, while Sensex was up by 605.64 points or 1.89% and at 32720.16. The Bank Nifty was trading sideways in the morning and got momentum in the second half. The Bank Nifty share price gained 311.60 points or 1.51% and closed at 20982.72.

The Nifty midcap 100 index was up by 166.55 points or 1.28% and closed at 13227.55. Whereas the Nifty smallcap 100 index gained 29.05 or 0.72% and closed at 4050.70.

The top gainers in the Nifty 50 stocks are Hindalco, Adani Ports, HDFC, Gail, and HCL Tech. On the losing side, the top losers for the day are Axis Bank, Asian Paints, HUL, Dr. Reddy’s Lab, and Britannia.

On the sectoral front today, Banking & Finance, Media, Metal, IT & Software, and Insurance. The sectors that closed in the red today are FMCG, Chemical, Paper, Electricals, and Dimond and jewelry.

 

Nifty and Bank Nifty share price in futures today.

The Nifty share price in futures opened today at 9425, it was up by 27.25 points. It has touched an intraday high at 9595.20 a day’s low at 9399.50

During the day Nifty share price in futures has given a movement of 195.70. points. In the end, it was gained 128.45 points and closed at Rs 9526.55

The Bank Nifty future share price today opened at 20540.05, it was up by 136.05 points. It has touched an intraday high at 21359.85 and a day’s low at 20401.05.

During the day the Bank Nifty future share price has given a movement of 958.8 points. In the end, it was up 323.90 points and closed at 21000

 

Nifty and Bank Nifty share price in futures target for 30th April 2020

 

Nifty share price in futures target for 30th April 2020

Primary Nifty Trend in futures: Volatile

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 9600 whereas All Down Moves Initiates Short Covering (Buy) @ 9360

If Nifty futures share price Moves Above 9562 and sustain. Then you should Buy with 1st Target of 9605 during the day with a Stop Loss of 9474 FOR the Target of 9605- 9648- 9690

If Nifty futures share price Moves Below 9474 and sustain. Then you should Sell with 1st Target of 9427 during the day with a Stop Loss of 9428. FOR the Target of 9427- 9365- 9322.

 

 Bank Nifty share price in futures target for 30th April 2020

Primary Trend of Bank nifty Future: Volatile

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21650, whereas All Down Moves Initiates Short  Covering (Buy) @ 20480

If Bank Nifty share price in futures Moves Above 21180 and sustain. Then you should Buy with 1st Target of 21440 during the day with a Stop Loss of  20920 FOR the Target of 21440 – 21670- 21878

If Bank Nifty share price in futures Moves Below 20920 and sustained. Then you should Sell with 1st Target of 20710 during the day with a Stop Loss of 20920 FOR the Target of 20710 – 20480- 20220.

 

Conclusions: 

Indian stock market gained for the third consecutive trading session on the support of global and domestic cues. The banking, IT and metal stocks have lifted the market today. Traders should remain cautious tomorrow due to the monthly expiry and should trade with strict stop loss and avoid carry forward positions. Traders can also follow our Nifty and Bank Nifty future share price for 30th April.

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