Nifty and Bank Nifty share price target (13th -17th April) for the next week

 

Nifty and Bank Nifty Share Price Target for 13th-17th April: Indian share market gained in the last truncated week on the hopes of the stimulus package. The market sentiment was improved last week due to positive global cues and FIIs buying. 

 

Sensex, Nifty & Bank Nifty Share Price last week

The Nifty gained around 1028 points or around 13% while Sensex was up by 3569 points or around 13% on a weekly basis. The Bank Nifty spike 2664 points or 15.50% from the last week’s close.

The Nifty midcap was up by 1237 or 11% whereas nifty smallcap gained 336 points or 10% in the last truncated week.

There were no losers in the Nifty 50 stocks last week, the top five gainers in the Nifty 50 Stocks were as follows

 

Weekly Nifty50 Gainers
Company Name	LTP	Previous Close	Change (%)
M&M	381.4	280.7	35.87
Maruti Suzuki	5326.65	4011.5	32.78
Axis Bank	420.15	325.45	29.1
Cipla	579.6	449.2	29.03
IndusInd Bank	395.4	313.2	26.25

 

The top gainers in the Nifty Midcap and Smallcap 100 are as follows

 

Weekly Nifty Midcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Jindal Steel	91.60	63.15	45.05
Cholamandalam Inv &Fin	171.75	124.65	37.79
Weekly Nifty Midcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Edlewiess Fin	36.9	42.25	12.66
Future Retail	66.25	70.7	6.29
Weekly Nifty Smallcap 100 Gainers
Company Name	LTP	Previous Close	Change (%)
Avanti Feeds	382.7	283.85	34.82
Ashoka Buildcon	50.45	37.5	34.53
Weekly Nifty Smallcap 100 Losers
Company Name	LTP	Previous Close	Change (%)
Infeabeam Avenue	34.5	40.5	14.81
Chalet Hotel	171.2	197	13.1

 

All the sectors in Nifty closed in green last week, Auto, Banking & Finance, Metal, and Pharma are the top gainers. FIIs are back in the cash market last week, they are net buyers whereas DIIs were the net seller. Last week FIIs bought Rs 4422.03 crores and DIIs sold Rs 1801.3 crores in the cash segment. 

 

The Indian market next week:

Next week Indian share will be closed on 14th April Tuesday on account of Dr. Ambedkar Jayanti. The key factors that will influence the Indian share market for next week are:

 

Global market factors

The global cues will be the key factor that will decide the sentiment of the Indian share market next week. Globally the economic growth has become standstill and declined due to the spread of coronavirus, it has largely affected almost all the continents in the world.

A decline in new cases in Europe and America can improve market sentiments globally.

 

Domestic market sentiments

In India, the coronavirus cases have been increased, the lockdown period has increased in several places until from 14th to 30th April. There is a high chance that the lockdown period will increase till 30th April at all over India. 

The increase in lockdown means the loss in economic growth, this will directly hit the Indian GDP and fiscal deficit. This may create negative sentiment for the short term whereas the decrease in new daily coronavirus cases can improve the domestic market sentiment in the coming week.

 

Q4, Earnings

The 4th quarter earnings have got delayed due to the nationwide lockdown on the coronavirus pandemic outbreak. The Nifty50 stocks that are going to announce the Q4 earnings next week are given below.

 

Q4 Earning dates for Nifty50 Stocks
15th April	Wipro
16th April	TCS
18th April	HDFC Bank

 

Macro data

The macro data that are going to announce for the next week are 

 

Macro Data Next Week
13th April	CPI Inflation
14th April	WPI Inflation
15th April	Balance of Trade
17th April	Minutes of Monetary
	Policy, Foreign
	Exchange Reserve

The experts estimate lower inflation for the month of March due to lower crude oil prices. The lower CPI and WPI inflation can create positive sentiment for the domestic market on Wednesday.

 

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Technical views: Nifty and Bank Nifty Share Price Target for next week

Nifty share price target in Futures

Range-Bound Trend of Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 9380 whereas All Down Moves Initiates Short Covering (Buy) @ 8700

If Nifty futures share price Moves Above 9105 and sustain. Then you should Buy with 1st Target of 9170 during the week with a Stop Loss of 9027 FOR the Target of 9170- 9210- 9255-9380

If Nifty futures share price Moves Below 9027 and sustain. Then you should Sell with 1st Target of 8988 during the week with a Stop Loss of 9105. FOR the Target of 8988- 8878- 8810- 8700

Bank Nifty share price target in Futures

Range-Bound Trend of Bank Nifty Future: 

All up Moves Initiates Profit Booking (Sale) @ 20800, whereas All Down Moves Initiates Short  Covering (Buy) @ 18750

If Bank Nifty share price future Moves Above 19850  and sustain. Then you should Buy with 1st Target of 20075 during the day with a Stop Loss of  19570. FOR the Target of 20075 – 20230- 20380-20800

If Bank Nifty share price future Moves Below 19570 and sustained. Then you should Sell with 1st Target of 19420 during the day with a Stop Loss of 19850. FOR the Target of 19420 – 19260- 19010-18750

 

Crude and rupee updates

The crude oil price was volatile in the last week in the hopes of a production cut meeting by OPEC and its allies. The international benchmark Brent crude oil future closed at $31.48 per barrel, it was down by $2.63 per barrel from the previous close.

The crude oil price fell was due to refusal of a production cut by Mexico in the meeting which held on 9th April. Other allies have agreed to cut the production of crude to stable the price but Mexico has denied. Now all eyes are on Mexico to cut the production and stabilize the crude oil price.

The Indian rupee touched the record low at Rs 76.55 and closed at 76.28 against the US dollar. It has got depreciated by 15 paise during the week

 

Conclusions

Indian share market volatility has slightly subsided last week, India VIX is at 49.75. The FIIs are back in the cash market last week is a good sign for the market. The positive news from the coronavirus angle could only change the market sentiment, it may be either from the domestic or internationally.

We are re-starting our daily Nifty and Bank Nifty share price target report from 13th April. Do visit our website to read the daily target of Nifty and Bank Nifty share price target in the evening aftermarket

 

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Happy Investing!!

Editor’s desk.