Stock Market Tomorrow: Nifty & Bank Nifty prediction
Stock Market prediction for tomorrow 19 March
Stock market prediction for tomorrow: Indian stock market opened strong today amid firm global cues. In the second half, markets fell sharply, heavy selling witnessed in all major sectors today, IT & Software, Banking, Energy, and Capital Goods fell the most. In the end, the Indian stock market extended their yesterday’s losses and closed in the deep red.
The Indian stock market sentiments were positive in the morning, tracking the global markets cues as the US Federal Reserve pledged to maintain the accommodative monetary policy and projected rapid growth in the US economy this year due to the ease of the Coronavirus crisis. However, the market’s upper side remained capped as some concern came with a joined survey carried out by FICCI-IBA has stated that asset quality of banks which saw some improvement in the second half of 2020 is likely to worsen during the first six months of 2021. The survey was conducted on 20 banks, including the public sector, private sectors, and foreign banks.
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Stock market today: Nifty Sensex and Bank Nifty on the spot price
At the close, Nifty fell 163.45 points or 1.11 percent and closed at 14557.85 levels while Sensex declined 585.10 points or 1.17 percent and finished at 49216.52 levels. The Bank Nifty on the spot price fell 372.45 points or 1.08 percent and ended at 33856.80 levels.
The Nifty midcap and smallcap 100 indices also closed in the red today. The Nifty midcap index fell 321.75 points or 1.37 percent and closed at 23129.85 levels. The smallcap index declined 105.70 points or 1.28 percent and ended at 8149.45 levels.
The top five gainers in the Nifty50 index were ITC, Bajaj Auto, Hindalco, Grasim, and M&M. The top five losers in the Nifty50 index were HCL Tech, Infosys, Dr. Reddy’s Lab, Divis Lab, and Hero Motor Corp. The most active stocks in the Nifty50 index were Tata Motor, ITC, and Reliance.
On a sectoral basis, FMCG and Metal sectors closed marginally higher today. The sectors that dragged down the markets today were IT, Banks, Pharma, and Realty.
Stock market today- Nifty & Bank Nifty futures
The Nifty futures share price opened at 14868.25 made a positive opening of 96.95 points. It has touched an intraday high at 14900.25 and a day’s low at 14506.50
The Nifty futures share price has given a movement of 393.75 points. In the end, it declined by 167.3 points or 1.13 percent and closed at 14604 levels.
The Bank Nifty futures share price opened at 34579.80 It made a positive opening of 219.15 points today. It has touched an intraday high at 34820 and a day’s low at 33668.55
During the day, the Bank Nifty futures share price has given a movement of 1151.45 points. In the end, it declined 400.9 points or 1.17 percent and closed at 33959.75 levels.
Stock Market Tomorrow Prediction 19 March- Nifty & Bank Nifty futures (March Expiry)
Nifty futures prediction for tomorrow 19 March 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14750 whereas All Down Moves Initiates Short Covering (Buy) @ 14500
If the Nifty futures share price Moves Above 14670 and sustain. Then you should Buy with 1st Target of 14728 during the day with a Stop Loss of 14550 FOR the Target of 14728-14752- 14790
If the Nifty futures share price Moves Below 14550 and sustain. Then you should Sell with the 1st Target of 14512 during the day with a Stop Loss of 14670. FOR the Target of 14512- 14480 -14440
Bank Nifty futures prediction for tomorrow 19 March 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35200, whereas All Down Moves Initiates Short Covering (Buy) @ 34550
Suppose Bank nifty share price in futures Moves Above 34160 and sustain, then you should Buy with the 1st Target of 34350 during the day with a Stop Loss of 33810. FOR the Target of 34350 – 34530 – 34930
If Bank nifty share price in the futures Moves Below 33810 and sustained, then you should Sell with the 1st Target of 33480 during the day with a Stop Loss of 34160. FOR the Target of 33480 – 33230 – 32980
Global markets today
On the global fronts, other Asian markets closed in the green today as Federal Reserve hiked the US economic growth. The European markets are trading mostly higher at this moment while UK’s FTSE is trading marginally lower ahead of the Bank of England’s monetary policy due later today. The US future indices Dow and Nasdaq futures are trading lower at 5 pm IST.
Conclusions:
Indian stock market today opened strong due to positive statements made by Fed on the interest rate and economic growth. The markets could not sustain higher, profit booking seen in almost all sectors. In the end, markets closed in the red for the fifth consecutive days. The market sentiment was pessimistic as traders are concern about the surge in coronavirus cases in India and its impact on economic growth.
Traders/investors can follow our Daily Morning market views and can follow our Stock market tomorrow, 19 March’s prediction for Nifty and Bank Nifty futures.
Also read, Hedging: Meaning, Risk, Strategies, and types of Hedge
Intraday Trading books to make money from Stock Markets
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