Nifty and Nifty Bank Index prediction for 14 May
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Nifty and Nifty Bank index prediction for tomorrow 14 May: Indian markets opened flat notes on Wednesday as indicated by the SGX Nifty in the morning. Markets traded in the red zone throughout the day. Sensex and Nifty traded below their crucial 48,900 and 14,800 levels respectively. In the end, markets extended their early losses and closed in the deep red.
Market sentiments were dampened as Moody’s revised India’s GDP forecast to 9.3 percent from their earlier projection of 13.7 percent and have ruled out a sovereign rating upgrade- at least for now. Traders remained cautious ahead of the CPI inflation and IIP data, to be announced post-market hours today.
Indian markets today: Sensex, Nifty, and Nifty Bank Index on the spot price
At the close, Nifty fell 154.25 points or 1.03 percent and closed at 14696.50 levels while Sensex slipped 471.01 points or 0.95 percent and finished at 48690.80 levels. The Nifty Bank index on the spot price was down by 419.90 points or 1.27 percent and ended at 32452.30 levels.
The midcap and smallcap indexes also closed in the red today. The Nifty midcap index declined 201.35 points or 0.81 percent and closed at 24770.40 levels. The Nifty smallcap index fell 52.35 points or 0.59 percent and ended at 8890.55 levels.
The top five gainers in the Nifty 50 index for the day were Tata Motors, Titan Company, Maruti Suzuki, Power Grid, and UPL. The top five losers in the Nifty 50 index were Tata Steel, JSW Steel, IndusInd Bank, Hindalco, and HUL. The most active stocks in the Nifty 50 index were Tata Steel, Tata Motors, and SBI.
On a sectoral front, Nifty PSU Bank, Media, Chemical, and Auto sectors closed higher today. On the losing side, Metals, Banking, Financials, IT & Software and Healthcare sectors closed in the red today.
Nifty and Nifty Bank Index futures movements for 12 May ( May Expiry)
The Nifty futures price opened at 14842.10 made a negative opening of 36.15 points. It has touched an intraday high at 14842.10 and a day’s low at 14662.95
The Nifty futures price has given a movement of 179.15 points today. In the end, it fell 169.35 points or 1.14 percent and ended at 14708.9 levels.
The Nifty Bank index in futures opened at 32775 It made a negative opening of 177.5 points today. It has touched an intraday high at 32817 and a day’s low at 32423.05
During the day, the Nifty Bank index in futures has given a movement of 393.95 points. In the end, it closed lower by 437.5 points or 1.33 percent and closed at 32515 levels.
Nifty and Nifty Bank index futures prediction for 14 May (May Expiry)
Nifty futures prediction for 14 May
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14810 whereas All Down Moves Initiates Short Covering (Buy) @ 14600
If the Nifty futures share price Moves Above 14742 and sustain. Then you should Buy with 1st Target of 14775 during the day with a Stop Loss of 14665 FOR the Target of 14775-14813- 14865
If the Nifty futures share price Moves Below 14665 and sustain. Then you should Sell with the 1st Target of 14634 during the day with a Stop Loss of 14742. FOR the Target of 14634- 14597 -14560
Nifty Bank index futures prediction for 14 May
Primary Trend of Nifty Bank Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32900, whereas All Down Moves Initiates Short Covering (Buy) @ 32300
Suppose the Nifty Bank index in futures Moves Above 32655 and sustain, then you should Buy with the 1st Target of 32840 during the day with a Stop Loss of 32470. FOR the Target of 32840 – 32930 – 33050
If the Nifty Bank index in futures Moves Below 32470 and sustained, then you should Sell with the 1st Target of 32360 during the day with a Stop Loss of 32655. FOR the Target of 32360 – 32280 – 32170
Global markets today
On the global front, Asian markets were mostly closed in the red on Wednesday as investors were concerned over a potential spike in US inflation, which will be announced later today in the evening. The European markets are trading higher after yesterday’s selloff, as strong earnings and signs of speedy economic recovery offset concerns about higher inflation. The US future indexes, Dow and Nasdaq futures are trading lower at this moment (4 pm IST)
Conclusions:
Indian markets extended yesterday’s losses ahead of domestic CPI and IIP data, to be announced around 5.30 pm on Wednesday. Indian market closed one percent lower on the back of heavy selling on metals stocks, Traders were also cautious due to domestic and US inflation data to be released later today. Tomorrow, Indian markets will be closed due to a holiday on account of ID-Ul-Fitr.
Going ahead, Indian markets will react to the IIP and CPI data on Friday. You can also follow our Daily Morning Report and Expert view on the Nifty and Nifty Bank index in futures for 14 May.
Also read, Your Stock Broker will never say these Hidden Charges.
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