Sensex and Nifty closed flat today, Nifty and Bank Nifty futures prediction for 16 Dec

 

Nifty & Bank Nifty futures Prediction for 16 Dec: Indian equity market opened on a flat note in the morning. The market continued to trade on a weak note in the morning. In the second half, benchmarks managed to cut their losses and closed in the positive. Negative global cues impacted market sentiments today.

Traders got some relief after the Finance Ministery highlighted the economic reforms for the growth and development of the country. It said that from January 2021, taxpayers up to the turnover of Rs 5 cr will now have the option of filing Goods and Service Tax return (GSTR) under the quarterly returns monthly payment scheme.

Asian markets were closed in the red today as Hong Kong’s manufacturing output declined at a faster pace in the third quarter. The Europen markets are trading higher with the optimism of vaccine roll-out in the continent from January. The US futures are also trading higher today at 4 pm IST 

 

Today’s Market: Sensex, Nifty, and Bank Nifty

 

At the close, Nifty gained 9.70 points or 0.08%, and at 13567.85 levels while the Sensex also up by 9.71 points or 0.03% and closed at 46263.17 levels. The Bank Nifty on the spot level closed lower by 54.85 points or 0.17% and ended at 30691.05 levels.

The Nifty midcap and smallcap 100 indices closed higher today. The Nifty midcap index gained 96.80 points or 0.47% and closed at 20,668.05 levels. The smallcap index was up 12.95 points or 0.19% and ended at the 6892.70 level.

The top five gainers in the Nifty 50 index for the day were Bajaj Finance, Bajaj Finserve, Eicher Motors, JSW Steel, and Shree Cement. The top five losers in the Nifty 50 index for the day were Nestle, HUL, BPCL, ICICI Bank, and Axis Bank. Bajaj Finance, Reliance ad HDFC Bank was the most active stock in the NSE today.

On a sectoral basis, Financials, Metals, Capital goods, Media, and Infrastructure sectors were the top gainers. On the losing side, Oil & Gas, FMCG, Insurance, IT & Software, and Aviation sectors closed in the red.

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 13530.05, it made a negative opening of 41.55 points. It has touched an intraday high at 13602.80 and a day’s low at 13454.20

The Nifty futures share price has given a movement of 148.6 points. In the end, it gained 13.4 points or 0.10% and closed at 13585 levels.

The Bank Nifty futures share price opened at 30700 It made a negative opening of 88.4 points today. It has touched an intraday high at 30780.60 and a day’s low at 30343.95

During the day, the Bank Nifty futures share price has given a movement of 436.65 points. In the end, it declined by 96.35 points or 0.31% and closed at 30692.05 levels.

 

Nifty and Bank Nifty futures prediction for 16 Dec ( Dec Expiry)

 

Nifty futures prediction for 16 Dec 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 13650 whereas All Down Moves Initiates Short Covering (Buy) @ 13490

If the Nifty futures share price Moves Above 13608 and sustain. Then you should Buy with 1st Target of 13638 during the day with a Stop Loss of 13547  FOR the Target of 13638-13668- 13695

If the Nifty futures share price  Moves Below 13547 and sustain. Then you should Sell with the 1st Target of 13518 during the day with a Stop Loss of 13608. FOR the Target of 13518- 13490 -13445

 

Bank Nifty futures prediction, 16 Dec  2020

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 30950, whereas All Down Moves Initiates Short  Covering (Buy) @ 30500

Suppose Bank Nifty futures share price Moves Above 30750 and sustain. Then you should Buy with the 1st Target of 30860 during the day with a Stop Loss of  30600. FOR the Target of 30860 – 30950- 31040

If the Bank Nifty futures share price Moves Below 30600 and sustained. Then you should Sell with the 1st Target of 30518 during the day with a Stop Loss of 30750. FOR the Target of 30518 – 30430- 30300

 

Conclusions:

Indian markets recovered their early losses and closed positive for the second consecutive days in the week. The Indian market sentiments were subdued due to weak global sentiments. Going ahead, the FOMC meeting outcome, the US Stimulus package, and Brexit trade talks will derive the market from here.

Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 15 Dec. 2020.

 

Also read,     The Best Stock market book to read to make money 

                      Nifty & Bank Nifty futures Trading view for 14-18 Dec 2020

          

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Editor’s Desk

 

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