Intraday Trading Strategy- Nifty & Bank Nifty futures 1 April
Best intraday trading strategy for Nifty & Bank Nifty futures
Best Intraday Trading Strategy for Nifty & Bank Nifty futures: Indian equity markets opened in the red today morning following the negative cues from Wall Street and other Asian markets. Weak trade continued over Dalal Street throughout the day, the key indices remained under pressure with sharp losses. In the end, Indian equity markets fell more than 1 percent on the last day of the financial year 2020-2021
Indian markets traded in a cautious mood due to the surge in coronavirus cases in India. The economy has bounced back amazingly from the Coronavirus pandemic so far after the nationwide lockdown in the last year, but the danger is not yet over. According to the World Bank in its latest report has predicted that India’s real GDP growth for the fiscal year 21/22 could range from 7.5 to 12.5 percent. The investor’s/traders focus is on US President Biden additional stimulus announcement today for the infrastructure.
Today’s market index: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 154.40 points or 1.04 percent and closed at 14690.70 levels while Sensex was down by 627.43 points or 1.25 percent and finished at 49509.15 levels. The Bank Nifty on the spot price tanks 571.20 points today or 1.68 percent and ended at 33303.90 levels.
The midcap and smallcap outperformed the benchmark indices and closed marginally higher today. The Nifty midcap index gained 83.75 points or 0.35 percent and closed at 23693.15 levels. The smallcap index was up by 29.60 points or 0.37 percent and finished at 8113.15 levels.
The top five gainers in the Nifty50 index for the day were Gail, UPL, Grasim, ITC, and Bajaj Finserve. The top five losers in the Nifty50 index were HDFC, HDFC Bank, Power Grid Corp, Tech Mahindra, and Coal India. The most active stocks in the Nifty50 index for the day were HDFC Bank, Tata Steel, and Tata Motors.
On a sectoral front, FMCG, Insurance, Metals, Consumer Durables, and Real Estate sectors closed in the green. The sectors that closed in the red today were Banking, Finance, Oil & Gas, Telecom, and IT & Software.
Nifty & Bank Nifty futures share price today ( April Expiry)
The Nifty share price in futures opened at 14871.05 made a negative opening of 42.5 points. It has touched an intraday high at 14876 and a day’s low at 14720.70
The Nifty futures share price has given a movement of 155.3 points. In the end, it fell 151.05 points or 1.01 percent and ended at 14762.50 levels.
The Bank Nifty futures share price opened at 33939.65 It made a negative opening of 107.15 points today. It has touched an intraday high at 33945.85 and a day’s low at 33266.30
During the day, the Bank Nifty futures share price has given a movement of 679.55 points. In the end, it closed lower by 513 points or 1.51 percent and closed at 33533.80 levels.
Nifty & Bank Nifty futures intraday trading strategy for 1 April ( April Expiry)
Nifty futures intraday trading strategy for tomorrow 1 April 2021
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14860 whereas All Down Moves Initiates Short Covering (Buy) @ 14680
If the Nifty futures share price Moves Above 14795 and sustain. Then you should Buy with 1st Target of 14824 during the day with a Stop Loss of 14732 FOR the Target of 14824-14860- 14897
If the Nifty futures share price Moves Below 14732 and sustain. Then you should Sell with the 1st Target of 14685 during the day with a Stop Loss of 14795. FOR the Target of 14685- 14632 -14600.
Bank Nifty futures intraday trading strategy for 1 April 2021
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33750, whereas All Down Moves Initiates Short Covering (Buy) @ 33200
Suppose Bank nifty share price in futures Moves Above 33633 and sustain, then you should Buy with the 1st Target of 33740 during the day with a Stop Loss of 33400. FOR the Target of 33740 – 33890 – 34080
If Bank nifty share price in the futures Moves Below 33400 and sustained, then you should Sell with the 1st Target of 33218 during the day with a Stop Loss of 33633. FOR the Target of 33218 – 33050 – 32910
Global markets today
On the global fronts, Asian markets closed in the red today even after China’s manufacturing sector continued to expand in March at a faster rate. The National Bureau of Statistics (NBS) said on Wednesday that China’s manufacturing PMI score of 51.9 and beat expectation for 51.0 and was recorded up from 50.6 in February. The European markets are trading almost flat at 6 pm IST. The US future indices Dow and Nasdaq futures are trading mixed today, Nasdaq future is trading higher whereas Dow future is trading marginally down.
Conclusions:
Indian markets took a pause after two days rally. The markets fell due to weak global cues as the US bond yields come into focus again. The US president Joe Biden will unveil the infrastructure package today with an increase in corporate taxes.
Tomorrow, the market will open as per the global cues and may remain range-bound ahead of the long weekend. Traders can follow our Nifty and Bank Nifty futures intraday trading strategy with a strict stop loss.
Also read, Intraday Trading books to make money from Stock Markets
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