Sensex and Nifty touched new high today, Nifty and Bank Nifty futures prediction for 18 Nov

 

Nifty & Bank Nifty Futures Prediction for 18 Nov: Indian stock market opened positive and was trading above their neutral lines today. Buying in frontline stocks like Tata Steel, SBI, Larsen was witnessed in the market today. In the end, the market closed in the positive, and Bank Nifty extended its morning gains.

The Market sentiments were positive with a private report that the Indian economy is seen recovering faster than expected and the Reserve Bank is like to have come to an end of the rate easing cycle. Meanwhile, as per the private report government is considering a plan to allow up to 26% foreign direct investment (FDI) from countries with which it shares a land border, including China, without government scrutiny for some sectors.

On the global front, Asian markets were closed in mixed even after the positive news of another promising coronavirus vaccine. European markets are trading marginally lower at this moment. The US futures, Dow, and Nasdaq futures are also trading in the mixed today.

 

Stock market today: Sensex, Nifty, and Bank Nifty today

 

At the close, Nifty gained 93.95 points or 0.74% and at 12874.20 levels, while Sensex gained 314.73 points or 0.73% and at 43952.71 levels. The bank Nifty on the spot level jumped 587 points or 2.06% and ended at 29181.30 levels.

The nifty midcap and smallcap 100 indices also closed in the green today. The Nifty midcap gained 204.65 points or 1.11% and at 18652.30 levels. The nifty smallcap closed marginally higher by 15.55 points or 0.26% and ended at 6104.65 levels.

The top five gainers in the Nifty50 index for the day are Tata Steel, Tata Motors, HDFC Life, SBI, and Adani Ports. The top five losers in the Nifty50 index for the day are BPCL, Hero Motocorp, NTPC, IOC, HCL Tech. Reliance, Tata Steel, Bajaj Finance were the most active stocks in the NSE today.

On a sectoral basis, Banking & Finance, Infrastructure, Automobiles, Metals, and Insurance sectors gained the most today. On the losing side, Oil & Gas, Healthcare, IT& Software, FMCG, and Media sectors closed in the red today.

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 12897.70, it made a gap up opening of 108.80 points. It has touched an intraday high at 12906.80 and a day’s low at 12801

The Nifty futures share price has given a movement of 105.8 points. In the end, it gained 100.5 points or 0.79% and closed at 12889.40 levels.

The Bank Nifty futures share price opened at 28750. It made a gap up opening of 153.65 points today. It has touched an intraday high at 29213 and a day’s low at 28707

During the day, the Bank Nifty futures share price has given a movement of 506 points. In the end, it gained 612.35 points or 2.14% and closed at 29208.70 levels.

 

Nifty and Bank Nifty futures prediction for 18 Nov ( Nov Expiry)

 

 

Nifty futures prediction for 18 Nov 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 12930 whereas All Down Moves Initiates Short Covering (Buy) @ 11800

If the Nifty futures share price Moves Above 12898 and sustain. Then you should Buy with 1st Target of 12928 during the day with a Stop Loss of 12865 FOR the Target of 12928- 12950- 12972

If the Nifty futures share price  Moves Below 12865 and sustain. Then you should Sell with the 1st Target of 12844 during the day with a Stop Loss of 12898. FOR the Target of 12844- 12826 -12792

 

 

Bank Nifty futures prediction, 18 Nov  2020

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 29500, whereas All Down Moves Initiates Short  Covering (Buy) @ 28850

Suppose Bank Nifty futures share price Moves Above 29250 and sustain. Then you should Buy with the 1st Target of 29380 during the day with a Stop Loss of  29040. FOR the Target of 29380 – 29460- 29550

If the Bank Nifty futures share price Moves Below 29040 and sustained. Then you should Sell with the 1st Target of 28950 during the day with a Stop Loss of 29250. FOR the Target of 28950 – 28860- 28702

 

Conclusions:

Indian markets started the week on a positive note. Today the market gained while tracking the global peers and on the news of the positive development of another coronavirus vaccine. The Banking, Auto, and infra stocks supported the market and helped to touch a new record high today. 

However, after a sharp rally, Indian markets may see some consolidation with a positive bias. In the absence of any major trigger, global cues may drive the domestic market.

Traders can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 18 Nov.2020.

 

Also read, Coronavirus impact on various sectors & Indian economic growth

                 Algo Trading Definition: Pros and Cons of Algorithmic trading  

               

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Editor’s Desk

 

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