Bank Nifty futures & Nifty futures prediction for 1 Jan 2021
Indian Market closed flat today, Nifty and Bank Nifty futures prediction for 1 Jan 2021
Nifty & Bank Nifty futures prediction for 1 Jan 2021: Indian equity benchmarks opened mixed and traded almost flat in the morning. The markets turned slightly volatile in the afternoon session and traded in a tight range. In the end, the benchmark indices closed absolutely flat today.
The market took some support with Russian President Vladimir Putin’s statement that next year Russia and Indian would continue to work together towards stepping up constructive bilateral cooperation as well as coordinating efforts to address topical issues on the regional and global agendas.
Some support also came with the report of Federation of Indian Exports Organisations (FIEO) President Sharad Kumar Saraf stated that the country’s exports may reach USD 290 billion by the end of FY21 as the outbound shipments were hit hard by the Coronavirus pandemic during the first half of the year. He also said that 2021 would bring a ray of hope and optimism for the exporting community.
However, the higher side remained capped as some concerns came with the Finance Ministry’s report that total liabilities of the government increased to Rs 107.04 lakh crore at the end of the second quarter of FY21 from 101.3 lakh crore in the first quarter of FY21. It means on a QoQ basis the liabilities increased by 5.6% in Q2 FY21.
On a global front, Asian markets were in a holiday mood today. Nikkei, Kospi, Set composite was closed today, other markets mostly closed in the green today. In Europe, markets are trading mostly in the red today. The U.S Dow and Nasdaq futures are trading almost flat today.
Today’s market: Sensex, Nifty, and Bank Nifty
At the close, Nifty closed almost flat, down 0.20 points only and at 13981.75 level while Sensex gained 5.11 points and closed at 47751.33 level. The Bank Nifty on the spot level fell 39 points or 0.12% and ended at 31264.05 level.
The Nifty midcap and smallcap 100 indices closed in the green today. The midcap index gained 100.80 points and closed at the 20842.50 level. The smallcap index closed higher by 21.45 points and ended at the 7087.60 level.
The top five gainers in the Nifty 50 index for the day were HDFC, Sun Pharma, Hindalco, ICICI Bank, and Divis Lab. The top five losers in the Nifty 50 index for the day were Shree Cement, TCS, Bharti Airtel, Ultratech Cement, and Kotak Mahindra Bank. Reliance, HDFC Bank, and Bajaj Finance were the most active stocks in the NSE today.
On a sectoral basis, Capital Goods, Consumer Durables, Healthcare, Media, and Metals sectors closed in the green today. On the losing side, IT & Software, Telecom, Oil & Gas, FMCG, and Construction materials sectors closed in the red today.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 13968.10, it made a negative opening of 9.35 points. It has touched an intraday high at 14026.90 and a day’s low at 13930.95
The Nifty futures share price has given a movement of 95.95 points. In the end, it gained 4.55 points or 0.03% and closed at 13982 levels.
The Bank Nifty futures share price opened at 31283.95 It made a negative opening of 54.3 points today. It has touched an intraday high at 31427.90 and a day’s low at 31079.05
During the day, the Bank Nifty futures share price has given a movement of 348.85 points. In the end, it closed lower by 76.6 points or 0.24% and closed at 31261.65 levels.
Nifty and Bank Nifty futures prediction for 1st Jan ( Jan Expiry)
Nifty futures prediction for 1 Jan 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14050 whereas All Down Moves Initiates Short Covering (Buy) @ 13950
If the Nifty futures share price Moves Above 14009 and sustain. Then you should Buy with 1st Target of 14030 during the day with a Stop Loss of 13955 FOR the Target of 14030-14054- 14075
If the Nifty futures share price Moves Below 13955 and sustain. Then you should Sell with the 1st Target of 13930 during the day with a Stop Loss of 14005. FOR the Target of 13930- 13905 -13880
Bank Nifty futures prediction, 1 Jan 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31500, whereas All Down Moves Initiates Short Covering (Buy) @ 31100
Suppose Bank Nifty futures share price Moves Above 31350 and sustain. Then you should Buy with the 1st Target of 31435 during the day with a Stop Loss of 31170. FOR the Target of 31435 – 31520- 31605
If the Bank Nifty futures share price Moves Below 31170 and sustained. Then you should Sell with the 1st Target of 31084 during the day with a Stop Loss of 31350. FOR the Target of 31084 – 30995- 30910
Conclusions:
Indian benchmark indices closed flat today while midcap and smallcap outperformed the benchmark indices. Sensex and Nifty hit a new record high on an intraday basis. The Nifty touched 14024.85 an all-time high today.
Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 1 Jan. 2021.
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