Know how to trade in Nifty and Bank Nifty futures in next week ( 19-23 Oct)

 

Nifty & Bank Nifty futures prediction for next week: Indian markets closed lower in the week ended 16 October. The Sensex and Nifty declined more than 1% on a weekly basis. The Indian markets erased all their weekly gains on Thursday due to negative global cues. Last week the Indian market sentiments were negative due to the rise in coronavirus cases in Europe and the US, delay in US fiscal stimulus, and week macro data.

The key factors to impact the market next week are as follows

 

Earnings

The second quarterly corporate earnings will play a very vital role to decide the market direction next week. There are a total of twelve Nifty 50 companies will announce their second-quarterly results next week. Corporates are expected to announce better earnings compared to the previous quarter due to ease of lockdown.

The schedule for the next week’s corporate result.

 

Q2 Results dates for Nifty50 Stocks
19 Oct	Britannia
19 Oct	HDFC Life
20 Oct	HUL
21 Oct	Bajajfinserv
	Bajaj Finance
21 Oct	Ultratech Cement
22 Oct	Asian Paints
	Bajaj Auto
23 Oct	JSW Stee
	TechM
	Nestle India

 

Coronavirus 

There is a decline in new coronavirus infection in India. At present, there are a total of more than 74 lakh coronavirus confirmed cases registered in India. Out of that only 7.8 lakh are active. The recovery rate has increased by up to 88% and the fatality rate is 1.52% at present.

The new Coronavirus cases are rising in the US and European region whereas in India there is a  decline in new cases continuously for two weeks. Experts feel there may be a second wave of Coronavirus in India after the festive season and so we need to maintain social distancing and hygiene.

Regarding the Corovirus Vaccine, last week J&J has paused the clinical trials but there several other companies already in phase 2 and 3 clinical trials. Experts are hopeful for the coronavirus vaccine to hit the market by March 2021. Any development related to coronavirus infection can create volatility in the market.

 

Global Market Cues

 

Global market cues will be very crucial for the Indian stock market next week. As investors are worried about the outcome of the US presidential election to be held on November 3. Domestic markets would remain volatile and trade range-bound until the US election result. 

Investors are also worried about the rising coronavirus cases in Europe and the US. The economic data that are going to impact the global markets are below, traders should keep update on these data.

 

Important Global Macro Data Next Week
19 Oct	GDP Growth	China
21 Oct	Inflation rate	GB
22 Oct	Jobless claim	US
23 Oct	PMI & Inflation data	Japan
23Oct	PMI data	GB
23 Oct	PMI data	US

 

Nifty and Bank Nifty futures prediction for next week (19-23 Oct)

 

 

Nifty futures prediction for next week (19-23 Oct)

Primary Trend of Nifty futures next week: Mild Negative

Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 11930 whereas All Down Moves Initiates Short Covering (Buy) @ 11620

If Nifty share price in futures Moves Above 11805 and sustain. Then you should Buy with 1st Target of 11845 during the day or week with a Stop Loss of 11720 FOR the Target of 11845- 11872- 11928- 11990

Suppose Nifty share price in futures Moves Below 11720 and sustain. Then you should Sell with 1st Target of 11695 during the day or week with a Stop Loss of 11805. FOR the Target of 11695- 11658- 11621-11560

 

 

Bank Nifty futures prediction for next week (19-23 Oct)

Primary Trend of Bank Nifty future for next week: Mild Negative

Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 24300, whereas All Down Moves Initiates Short Covering (Buy) @ 23100

Bank Nifty share price in the future Moves Above 23650 and sustain. Then you should Buy with the 1st Target of 23790 during the day with a Stop Loss of  23350. FOR the Target of 23790 – 23905- 24020- 24280

If Bank Nifty shares price in the future Moves Below 23350 and sustained. Then you should Sell with the 1st Target of 23255 during the day with a Stop Loss of 23650. FOR the Target of 23255 – 23105- 22950 – 22700

 

FIIs and DIIs movement

FIIs are the buyers so far in the month of October whereas DIIs are the seller in the cash market segment. On a monthly basis, FIIs bought Rs 6981.2 crores, and DIIs sold Rs 7347.44 crores in the cash market. On a weekly basis also FIIs are buyers in the cash market. So far the FIIs are buying in the market, the sentiment will remain positive. Traders need to follow the FIIs movement closely to know the market trend.

 

You may also like to read, Ultratech & JSW Steel Share Price target for next week

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Weekly share market analysis: Top Nifty gainers and losers

Happy Investing!!

Editor’s Desk

 

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