Global Market, Nifty & Nifty Bank share price target
Nifty and Nifty Bank share price targets, Global Markets & Key Factors for Market next week.
Sensex, Nifty, and Nifty Bank Share Price last week: Indian stocks market gained last week with the support of the global market. Nifty gained 224.35 points or 2.16% and at 10607.35 while Sensex was up by 850.15 points or 2.42% and at 36021.42. The Nifty Bank share price gained 260.35 points or 1.21% and at 21852.4 levels.
The Nifty midcap and smallcap 100 indices were closed in the mix. The midcap index gained 67.4 points or 0.45% and at 15042.65 whereas Nifty smallcap was down by 2.35 points and at 4706 levels.
The top gainers and losers in the Nifty50 index
| Weekly Nifty50 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Hero Motor Corp | 2738.25 | 2540.45 | 7.79 |
| HDFC | 1885.20 | 1769.35 | 6.55 |
| ITC | 207.55 | 195.20 | 6.33 |
| M&M | 530.50 | 501.40 | 5.80 |
| Adani Ports | 360.40 | 343.20 | 5.01 |
| Weekly Nifty50 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Coal India | 135.25 | 142.10 | 4.82 |
| Vedanta | 106.45 | 109.95 | 3.18 |
| Hindalco | 146.40 | 151.05 | 3.08 |
| NTPC | 94.50 | 97.00 | 2.58 |
| Zee Entertainment | 172.25 | 176.25 | 2.27 |
The top gainers and losers in the smallcap and midcap index
| Weekly Nifty Midcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| IDBI Bank | 51.00 | 40.00 | 27.50 |
| HUDCO | 34.00 | 27.90 | 21.86 |
| Weekly Nifty Midcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Trent | 619.50 | 687.40 | 9.88 |
| RBL Bank | 173.60 | 190.65 | 8.94 |
| Weekly Nifty Smallcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| PNC Infratech | 156.05 | 139.25 | 12.06 |
| Galaxy Surfact | 1601.65 | 1432.30 | 11.82 |
| Weekly Nifty Smallcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Omaxe | 102.95 | 220.50 | 53.31 |
| Indiamart Inter | 2099.85 | 2397.80 | 12..43 |
Key factors that will influence Market next week
Q4 Results
NTPC
On 27th June, NTPC reported its Q4 results. The company reported a 71.2% YoY fall in standalone net profit for the 31st March-end quarter at Rs 1252.44 crore. NTPC had reported Rs 4350.32 crore profit in the same period last year. The company’s profit fell even after a 28.38% rise in the net sales at Rs 27246.88 crores for the quarter compared with Rs 21222.39 crore in the same quarter last year.
The share price of NTPC fell on the next trading day after the announcement of the Q4 results.
Tata Steel
On 29th June, Tata Steel reported a consolidated net loss of Rs 1095.68 crores in the Q4 as compared to a net profit of Rs 2430.92 crores in the same period last year. The consolidated revenue of the company declined by 20.40% on YoY to Rs 33769.95 crores in the 31st March-end quarter as compared to Rs 42423.86 crores in last year’s same period.
The Q4 results of Tata Steel meet street estimates, the share price of Tata Steel has reacted positively after the Q4 results announcement.
ONGC
On 30th June, ONGC reported Q4 results. The company has posted a standalone net loss of Rs 3098.26 crore for the 31st March-end quarter. The loss is due to an exceptional item towards impairment loss of Rs 4899 crores. The company had posted a net profit of Rs 4239.50 crore in the same period last year.
The company’s revenue from operation almost declined 20% on YoY to Rs 21456.20 crores during the quarter as compared to 26758.46 in the same period last year. The share price of ONGC declined after the Q4 results but recovered in the next trading session.
Next week on 9th July TCS will announce its 1st Quarter Result. IT sectors may focus on 9th July i.e on Thursday.
Global Market Cues
In the absence of any domestic cues, Indian stock markets moved as per the global market last week. We have seen Indian markets tracking the global markets and was trading higher on the July 3rd end week. The improved macro data in the US and China, the new Job creation data in the US created positive sentiments in the market globally. Indian stock markets were also traded in a positive note after tracking the global peers.
Traders should keep in their back of mind that the geopolitical tension between India and China borders can further create a negative sentiment in the market in the coming days. Even the trade war between the US and China are still not yet resolved.
The positive global market cues can boost the Indian market sentiments so traders need to closely follow the global market cues before taking any position.
Coronavirus
The increasing cases of coronavirus infections are seen in the US and India. The Indian government has re-imposed the lockdown in several places due to the high number of cases. The reimpose of lockdown means loss of economy. Though the Indian market ignored the increasing cases of coronavirus it may create negative sentiments if the cases spike in the coming days.
The news of the coronavirus vaccine human trial was also in the news last week. Any further development in this front can make a positive sentiment in the market. The traders are required to follow the coronavirus news in the next week
FIIs and DIIs movement
Last week FIIs were the sellers and DIIs were the buyers in the cash market. FIIs sold Rs 5333.03 crores and DIIs bought Rs 5041.25 crores in the cash segment. FIIs were the sellers in the cash market for the six consecutive days except for the last Friday i.e on 03rd July.
So we may see some positivity in the market if the buying spree continues by the FIIs in the next week.
Crude oil
The crude oil price fell last Friday 03rd July due to the fear of the resurgence of Coronavirus infection in the US. There were 55000 new coronavirus cases registered in the US in a single day. The crude oil price fell on the fear of lowering the demand and fresh lockdown.
The Brent crude oil and WTI crude oil closed at $42.77 and $ 40.08 per barrel last Friday. But on a weekly basis, the crude oil prices gained around 4.5%. The further downside in crude oil can volatile Indian markets. You can follow the movements in crude oil prices.
Technical Levels of Nifty and Nifty Bank share price
Nifty technical analysis in Futures
Primary Trend of Nifty Futures next week: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 10700 whereas All Down Moves Initiates Short Covering (Buy) @ 10420
If Nifty futures share price Moves Above 10615 and sustain. Then you should Buy with 1st Target of 10641 during the day or week with a Stop Loss of 10532 FOR the Target of 10641- 10668- 10704 – 10748
If Nifty futures share price Moves Below 10532 and sustain. Then you should Sell with 1st Target of 10510 during the day or week with a Stop Loss of 10615. FOR the Target of 10510- 10488- 10456-10428
Technical analysis of Nifty Bank share price in Futures
Primary Trend of Nifty Bank share price in future for next week: Mild Positive
Range-Bound Trend of Nifty Bank share price in Future: All up Moves Initiates Profit Booking (Sale) @ 22750, whereas All Down Moves Initiates Short Covering (Buy) @ 21550
Nifty Bank share price future Moves Above 22080 and sustain. Then you should Buy with the 1st Target of 22203 during the day with a Stop Loss of 21650. FOR the Target of 22203 – 22320- 22535- 22740
If Nifty Bank share price future Moves Below 21650 and sustained. Then you should Sell with the 1st Target of 21540 during the day with a Stop Loss of 21395. FOR the Target of 21540 – 21280- 21090-20880
Conclusions
Indian stock market gained in the last week with support from positive global markets. Though there is an improvement in macro data globally at the same time we cannot overlook the spike in coronavirus cases in India and the US. The increasing coronavirus cases are the main concern at present in domestic as well in the US market.
Though the Indian market is looking good the traders should be cautious next week about the above concerns and trade carefully. Traders can also follow our Daily Stock Market Live for Nifty and Nifty Bank share price target reports
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