NSE Indices: Nifty & Bank Nifty futures for (14-18 June)
NSE Indices- Nifty and Bank Nifty futures for next week ( 14-18 June): Indian stock markets closed higher around one percent for the week ended 11 June. Markets gained higher due to the reopening of business in the country, progress on vaccination drive, and FIIs buying. The timely arrival of the monsoon has also supported the market sentiments during the week. In the coming week, the FOMC meeting will play a vital role to set the market direction.
The other key factors that may impact the BSE and NSE indices, in the next week are as follows
Economic Data
As per the data released by the National Statistical Office (NSO) on Friday, India’s Industrial production rose by 134.44 percent in April on a low year-on-year (YoY) base against 24.14 percent in March. However, this jump in the factory output is partial data, due to the effect of state-imposed lockdowns and restriction amid the second wave of coronavirus infection.
The market will first react to the IIP data on Monday and then react on the WPI and CPI data set to be released on Monday. The schedule for the domestic economic data set for next week’s release is given below.
| Economic Data Next Week | |
| 14 Jun 2021 | CPI Inflation |
| 14 Jun 2021 | WPI Inflation |
| 15 June 2021 | Balance Of Trade Export/Import |
| 18 June 2021 | Foreign Exchange reserve |
| 18 June 2021 | Monetary Policy Meeting minutes |
Global market cues
The global market indices closed mixed during the week as high inflation and its impact on interest rates continued to dominate the markets. The economic data announced during the week were also mixed in U.S and China. The coming week will be vital as several important economic data are expected along with FOMC and BOJ interest rate decisions. The schedule of economic data for the next week are given below
| Important Global Macro Data Next Week | ||
| 14 June 2021 | Industrial Production MoM | Japan |
| 15 June 2021 | Unemployment rate | GB |
| 15 June 2021 | Industrial production & retail sales | US |
| 16 June 2021 | Balance of Trade Export/Import | Japan |
| 16 June 2021 | Industrial Production/ Retail Sales | China |
| 16 June 2021 | Unemployment rate | China |
| 16 June 2021 | Inflation rate/ Core Inflation | GB |
| 16 June 2021 | FOMC economic Projection | US |
| 16 June 2021 | Fed Interest Rate decision | US |
| 17 June 2021 | Initial Jobless Claim | US |
| 18 June 2021 | Inflation/ Core Inflation rate | Japan |
| 18 June 2021 | BOJ Interest Rate Decision | Japan |
| 18 June 2021 | Retail sales | GB |
NSE indices-Nifty and Bank Nifty futures prediction for (14 – 18 June)
NSE Index- Nifty Futures for the next week (14 – 18 June)
Primary Trend of NSE Nifty index futures for next week: Positive
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 15900 whereas All Down Moves Initiates Short Covering (Buy) @ 15750
Suppose Nifty share price in futures Moves Above 15849 and sustain. Then you should Buy Nifty futures with 1st Target of 15876 during the day or week with a Stop Loss of 15785 FOR the Target of 15876- 15908- 15946- 15985
Suppose Nifty share price in futures Moves Below 15785 and sustain. Then you should Sell with the 1st Target of 15752 during the day or week with a Stop Loss of 15849. FOR the Target of 15752- 15706- 15670 -14630
NSE Bank Nifty Index futures for next week (14- 18 June)
Primary Trend of NSE Bank Nifty index future for the week: Range-Bound
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 35700, whereas All Down Moves Initiates Short Covering (Buy) @ 34900
Suppose the Bank Nifty share price in the futures Moves Above 35325 and sustains. Then you should Buy Bank Nifty futures with the 1st Target of 35435 during the day or week with a Stop Loss of 34930. FOR the Target of 35435 – 35570- 35702- 35950
If Bank Nifty shares price in the future Moves Below 34930 and sustained. Then you should Sell with the 1st Target of 34820 during the day or week with a Stop Loss of 35325. FOR the Target of 34820- 34710- 34460 – 34220
FII & DIIs investment in Indian stock markets
Foreign Institutional Investors (FIIs) were buyers while Domestic Institutional investors (DIIs) have sold in the cash market during the week ended 11 June. FIIs have bought Rs 1738.22 crores while DIIs have sold Rs 823.54 crores in the cash market segment during the week.
Meanwhile, the indications of betterment in the second wave of coronavirus infection over the last 21 days have provided some relief, as FIIs turned buyers in the cash market segment. In the last three weeks, FIIs inflow was more than Rs 8,800 crores. The concern over the second wave of the coronavirus pandemic and its possible impact on the Indian economy had kept foreign investors sidelines in the month of April and mid of May. Traders need to keep a close eye on FIIs investment next week.
Coronavirus risk & Vaccination
India witnessing a decline in covid-19 cases, the country reported 84,332 news cases on Saturday morning in the last 24 hrs, the lowest infection in 70 days. The active cases have decreased by 40.981 in the last 24 hrs to take the tally to less than 11 lakhs ( 10,80,690) after 63 days. According to the government, the recovery rate at national levels has improved to 95.07 percent. The death related to the virus recorded at 4002 in the last 24 hrs, is continued to remain high.
Around 25 crores vaccine administered so far in India. India’s vaccination drive is going to accelerate soon as per the recent government policy. The declining trend of coronavirus infections, reopening of business at various states, and the progress in vaccination drive are positive for the Indian stock markets.
You can also read daily morning market updates before the markets get open and daily NSE Nifty and Bank Nifty Index futures Prediction in the evening on our website.
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Happy Investing!!
Editor’s Desk
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