NSE Index, Nifty closed at 11300 levels and Bank Nifty gained 256 pts 

 

NSE Index-Nifty & Bank Nifty tomorrow: Indian stock market opened in a positive note following the global peers and later extended its morning gains. The Bank Nifty index was trading volatile in the morning. In the second half, the NSE index Nifty and Bank Nifty made a decent gain and closed in the positive territory.

The market sentiments got some support with the Finance Ministery’s statement that the Centre has released over Rs 1.65 lakh crore as GST compensation to states for the FY2019-20. This has also including Rs 13,806 crore GST compensation for March. 

Besides, the market sentiment got boosted with Commerce and Industry Minister Piyush Goyal’s statement. According to him, the government will soon set a single-window system for clearances and approvals for the industry. The government is also working on creating a land bank with a view to attracting investments.

On the global front, most of the  Asian markets closed in the green today, as investors weighed progress in US government stimulus efforts against rising tension with China and the second wave of coronavirus cases. The European markets are trading marginally lower today. The US Dow futures and Nasdaq futures are also trading marginally lower at this moment.

 

BSE Sensex, NSE index Nifty and Bank Nifty today on spot levels

 

At close, the NSE index Nifty gained 168.75 points 1.52% and at 11300.55 levels while BSE Sensex was up 558.22 points or 1.48% and closed at 38492.95 levels. The Bank Nifty was volatile in the morning also gained 256.45 points or 1.18% and closed at 22105.20 levels.

The Nifty midcap and smallcap 100 indices closed in the green today. The midcap index gained 136.30 points or 0.89% and at 15460.10. The smallcap index was up by 67.65 points or 1.36% and closed at 5027.15 levels.

The top gainers in the Nifty50 index for the day are Ultratech Cement, Tata Motors, TCS, Kotak Mahindra, and Grasim. On the losing side, the top losers in the Nifty50 index for the day are Bharti Infratel, ICICI Bank, Nestle, ONGC, and Asian Paints. The most active stocks in the NSE index for the day are Reliance, ICICI Bank and Bajaj Finance.

On a sectoral basis in NSE, IT & Software, Metals & Minings, Automobiles, Banking & Finance, Infrastructures, and Construction Materials sectors closed higher. On the other hand, Capital Goods, Chemicals, and Manufacturing sectors closed marginally lower today. 

 

NSE Index: Nifty and Bank Nifty in futures today

 

The NSE index Nifty in futures opened at 11134.70, it made a positive opening of 31.4 points today. It has touched an intraday high at 11323 and a day’s low at 11128.55

The NSE index Nifty in futures has given a movement of 194.45 points. In the end, it gained by 177.55 points or 1.60% and closed at 11300 levels

The NSE Bank Nifty index in futures opened at 21921.50 it was made a positive opening of 62.15 points today. It has touched an intraday high at 22306.95 and a day’s low at 21630.05

During the day the NSE Bank Nifty index in futures has given a movement of 676.9 points. In the end, it was up by 270.05 points or 1.24% and closed at 22129.40 levels.

 

NSE Index Nifty & Bank Nifty index in futures for 29th July (July Expiry)

 

NSE Index Nifty in futures for 29th July 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11400 whereas All Down Moves Initiates Short Covering (Buy) @ 11225

If NSE Nifty index in futures Moves Above 11328 and sustain. Then you should Buy with 1st Target of 11354 during the day with a Stop Loss of 11250. FOR the Target of 11354- 11385- 11410

If NSE Nifty index in futures Moves Below 11250 and sustain. Then you should Sell with 1st Target of 11225 during the day with a Stop Loss of 11328. FOR the Target of 11225- 11190- 11158

 

NSE Bank Nifty index in futures, 29th July  2020

Primary Trend of Bank Nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 22700, whereas All Down Moves Initiates Short  Covering (Buy) @ 21800

If the NSE Bank Nifty index in futures  Moves Above 22230 and sustain. Then you should Buy with 1st Target of 22415 during the day with a Stop Loss of  22000. FOR the Target of 22415 – 22554- 22690

If the NSE Bank Nifty index in futures Moves Below 22000 and sustained. Then you should Sell with 1st Target of 21880 during the day with a Stop Loss of 22230. FOR the Target of 21880 – 21720- 21640

 

Conclusions:

Indian stock market closed in positive territory after a minor pause yesterday. The Nifty closed at 11300 levels and now inching towards 11500 levels. The market will remain volatile in the coming two days ahead of F&O expiry and Fed meetings outcome. The Fed meeting outcome is expected on 29th July.

The domestic market will also focus on the quarterly results of some blue chips companies that are going to announce in the coming days in this week. Though the Indian markets looking positive, traders should remain cautious and focus on quality stocks only.

Traders can also track these factors closely before taking any position in the market. You may be interested to check out the latest charting platform for your strategy here. Traders can also follow our Daily Stock/Share Market live and NSE index Nifty and Bank Nifty share price in futures for 29th July.

 

You can also read, Best Stock Market Books to Make Money

 

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