Nifty 50 and Bank Nifty Futures Trend for (10-14 May)
Nifty 50 and Bank Nifty Futures Trend (10-14 May): Indian stock market gained around one percent during the week ended May 7. Markets gained after RBI announced Covid-19 relief measures on 5 May. The strong earnings and positive global cues also supported the markets to close higher on a weekly basis. The upside remains capped as traders were concern about the localized lockdown/restrictions imposed by the states and slow growth in service sectors.
The key factors that may impact the Indian stock markets for the next week are
Domestic events for next week
4th Quarterly result
So far the Q4 corporate earnings have reported better than expected results. Next week there are a total of six Nifty 50 companies that will announce their 4th quarter result along with a bunch of midcaps and smallcap companies. The schedule for Nifty 50 companies Q4 earnings for the next week are
| Q4 Results dates for Nifty50 Stocks | |
| 12 May 2021 | Asian Paints |
| 12 May 2021 | UPL |
| 14 May 2021 | BPCL |
| 14 May 2021 | Cipla |
| 14 May 2021 | Dr. Reddy |
| 14 May 2021 | LT |
Macroeconomic data
Next week, Inflation seemed to be a major driver of sentiments in the markets. As per the report published on 6 May by Morgan Stanley, India’s WPI inflation may accelerate to 9.1% YoY in April from 7.39% YoY in March, while CPI is likely to moderate to 3.9% in April from 5.5% reported in March. The other macroeconomic data that are going to release next week are as follows.
| Economic Data Next Week | |
| 12 May 2021 | Industrial Production Data- March |
| 12 May 2021 | CPI Infation Data- April |
| 14 May 2021 | WPI Inflation data |
| 14 May 2021 | Foreign Exchange Reserve |
| 14 May 2021 | Export and Import data |
Global market cues
The major global market indexes closed higher during the week ended 7 May. The global cues were positive during the second half of the week due to strong corporate earnings, better economic data, and ease of lockdown and reopening of businesses in Europe. Next week the release of US inflation data, industrial production data will derive the global markets. The schedule for macroeconomic data for the next week is as follows.
| Important Global Macro Data Next Week | ||
| 11 May 2021 | Inflation Rate MoM April | China |
| 12 May 2021 | Foreign Exchange reserve | Japan |
| 12 May 2021 | GDP Growth rate Prel Q1 | GB |
| 12 May 2021 | Industrial Production | GB |
| 12 May 2021 | Inflation Rate MoM April | US |
| 13 May 2021 | Jobless Claim | US |
| 14 May 2021 | Retail Sales data, Industrial Production | US |
Nifty 50 and Bank Nifty futures trend for (10 – 14 May)
Nifty 50 Futures Trend for the week (10 – 14 May)
Primary Trend of Nifty 50 futures for next week: Positive
Range-Bound Trend of Nifty 50 futures: All up Moves Initiates Profit Booking (Sale) @ 14950 whereas All Down Moves Initiates Short Covering (Buy) @ 14830
Suppose Nifty 50 share price in futures Moves Above 14885 and sustain. Then you should Buy Nifty 50 futures with 1st Target of 14910 during the day or week with a Stop Loss of 14802 FOR the Target of 14910-14952-15050- 15170
Suppose Nifty 50 share price in futures Moves Below 14802 and sustain. Then you should Sell with the 1st Target of 14780 during the day or week with a Stop Loss of 14885. FOR the Target of 14780- 14750- 14698 -14660
Bank Nifty Trend for next week (10 – 14 May)
Primary Trend of Bank Nifty future for the week: Positive
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 33350, whereas All Down Moves Initiates Short Covering (Buy) @ 32800
Suppose Bank Nifty share price in the futures Moves Above 33310 and sustain. Then you should Buy Bank Nifty futures with the 1st Target of 33430 during the day or week with a Stop Loss of 32930. FOR the Target of 33430 – 33590- 33840- 34090
If Bank Nifty shares price in the future Moves Below 32930 and sustained. Then you should Sell with the 1st Target of 32780 during the day or week with a Stop Loss of 33310. FOR the Target of 32780- 32650- 32570 – 32318
FII & DIIs investment
Foreign Institutional Investors (FIIs) have sold Rs 5092.5 crores and Domestic Institutional investors have invested Rs 2135.23 crores in the cash market segment during the week ended 7 May.
FIIs selling can be used as an opportunity for the traders because DIIs are supporting the markets now. DIIs sold aggressively in the last year and hopefully, they will turn as buyers in the market this year. So Investors should take the opportunity to invest in good quality stocks on dips.
Coronavirus risk & Vaccination
India reported more than 4 Lakh new coronavirus infection and over 4 thousand fatalities on Saturday in the last 24 hrs. Indian become the third country after the US and Brazil, that reported more than 4000 death on a daily basis. India’s total active cases are reached more than 37 lakh on Saturday, 17.01 percent of the total positive cases.
Indian main opposition party has demanded a complete nationwide lockdown to curb the infection. But prime minister Modi is resisting the move as it may adversely impact the Indian economy. The deadly infection has now spread from the cities to towns and several localized lockdowns and strict restrictions imposed during the last week.
The slow progress of vaccination drive and shortage of oxygen in India has compounded the crisis. So far Indian has administered around 16 cr vaccine doses which is just over 10% of the total India’s population. Despite being the world’s biggest producer of vaccines, India is facing a shortage of supplies. The CEO of Serum Institutions, the Covishield vaccine maker has warned shortage will last for months.
Meanwhile, another batch of 1,50,000 doses of Russian Sputnik-V Vaccine and Ogygen generating truck will reach India in a day or two. Indian markets will closely watch out for the vaccine-related news in the coming days. The availability of vaccines and the declining stage of coronavirus infection can be positive for the Indian markets.
You can also read daily morning market updates before the markets get open and daily Nifty 50 and Bank Nifty Futures Trend in the evening on our website.
You may also like to read, Weekly Stock Market- These Nifty stocks gained up to 20%
Algo Trading Definition: Pros and Cons of Algorithmic trading
Happy Investing!!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are own and only for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
