Nifty50 futures and Bank Nifty futures technical levels for 27th April 2020

 

Indian stock market closed in negative notes after a volatile session. The market sentiment was subdued with the Confederation of Indian Industry’s (CII) report that India’s GDP is likely to range between a decline of 0.9% and a growth of 1.5% in the current financial year. This is because of the economy undergoing a turbulent phase caused by the coronavirus induced lockdown.

On the global front, European markets are trading lower as the region’s leaders struggled to agree to a long -term plan for cushioning the economic blow from the coronavirus. U.S equity futures and Asian share also slipped while treasuries and the dollar gained.

 

Sensex, Nifty50, and Bank Nifty today on spot level.

At close, Nifty50 fell 159.50 points or 1.71% and at 9154.40 while Sensex was down by 535.86 points or 1.68% and at 31327.22. The Bank Nifty was down by 681.25 points or 3.36% and closed at 19586.70. 

The Nifty midcap and smallcap 100 indexes closed in the red today. Nifty midcap 100 was down by 268.95 points or 2.07% whereas the Nifty smallcap index 100 fell by 78.55 points or 1.95% during the day at the close.

The top gainers in  Nifty50 stocks for the day are Britannia, Reliance, Cipla, Sun Pharma, and Hero Motor Corp. On the losing side in Nifty 50 stock for the day are Bajaj Finance, Bharti Infratel, Zee Entertainment, Bajaj Finserve, and Hindalco.

On a sectoral basis, except for Healthcare and Oil&Gas, all other major sectors closed in the red today. Banking & Finance, Aviation, Hospitality, Insurance, and real Estate are are the major losers for the day.

 

Nifty50 futures and Bank Nifty futures today

The Nifty50 futures opened at 9165, it was down by 131.75 points. It has touched an intraday high at 9260 and a day’s low at 9115. During the day the Nifty50 future has given a movement of 145 points and in the end, it fell 147 points and closed at 9149.75.

The Bank Nifty futures opened at 19734.80, it was down by 447.95 points. It has touched an intraday high at 19860 and a day’s low at 19381. On an intraday basis, the Bank Nifty future has given a movement of 479 points and in the end, it was down by 602.75 points and closed at 19580.

 

Nifty50 futures and Bank Nifty future target for 27th April 2020

 

Nifty 50 Future share price target for 27th April 2020

Primary Nifty Trend in futures: Bearish

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 9270 whereas All Down Moves Initiates Short Covering (Buy) @ 9030

If Nifty50 futures share price Moves Above 9185 and sustain. Then you should Buy with 1st Target of 9208 during the day with a Stop Loss of 9130 FOR the Target of 9208- 9234- 9274

If Nifty50 futures share price Moves Below 9130 and sustain. Then you should Sell with 1st Target of 9084 during the day with a Stop Loss of 9310. FOR the Target of 9084- 9056- 9027

 

 Bank Nifty future share price target for 27th April 2020

Primary Trend of Bank nifty Future: Bearish

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 19950, whereas All Down Moves Initiates Short  Covering (Buy) @ 19120

If Bank Nifty future share price Moves Above 19640 and sustain. Then you should Buy with 1st Target of 19720 during the day with a Stop Loss of  19476. FOR the Target of 19720 – 19830- 19960

If Bank Nifty future share price Moves Below 19476 and sustained. Then you should Sell with 1st Target of 19355 during the day with a Stop Loss of 19640. FOR the Target of 19355 – 19240- 19125

 

Conclusions: 

Indian stock market closed in a negative note today and Nifty50 closed below 9200 levels on the spot. The Bank Nifty is looking weak and dragging the market whereas the pharma sector is looking strong. The Nifty50 is trading 9000 to 9350 levels for the last few days. The market would remain volatile in the coming days and Nifty will trade 8800 to 9350 levels.

Traders should trade with caution and trade with the strict stop loss. Traders should follow global markets, crude, and can follow our Nifty50 futures and Bank Nifty futures share price for 27th April.

 

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