Share Market Prediction next week 21-24 Dec: Nifty and Bank Nifty futures

 

Share Market Prediction for 21-24 Dec- Nifty & Bank Nifty futures: Indian stock markets continued to gain for the seventh consecutive week ended 18 December. The domestic markets gained mainly with the support of global market cues that rallied on the hopes of the US stimulus package and vaccine rollout news. The domestic macro data and FIIs inflow also boosted the market sentiments during the week.

The factors that may impact the Indian stock market next week are 

 

Coronavirus risk and vaccine updates

 

In the last two months, the US and European countries were hit by the second wave of coronavirus cases whereas in India the deadly virus is in the declining stage. The UK government is planning to impose new restrictions after the discovery of a coronavirus variant that is significantly more infectious than Covid-19.

Though India has crossed 1Cr in a total number of coronavirus cases, the active cases are around 3L only. The recovery rate further improved to 95.40% as compared to last week whereas the fatality rate remained stagnant. The decline in coronavirus cases in India has continued to support the stock market sentiment.

 Nowadays every alternative day we are getting new progress on the Covid-19 vaccine front. The approval of the emergency use of the Covid-19 vaccine has created very positive sentiments in the global stock market. On Friday the US government has also cleared the second vaccine for emergency use which is Moderna’s vaccine after Pfizer-BioNTech. Germany will roll out the Covid-19 vaccine from 27th December. 

Indian has already started preparation for the rollout of the Covid-19 vaccine across the country. At any time the government body can give approval for the emergency use of the vaccine. The news would boost the Indian stock market sentiments. Indian has received a request for Covid-19 vaccines from 12 countries as per the NITI Aayog member Dr. VK Pauk said on 19 December.

 

Technical levels-Nifty, Bank Nifty futures prediction for the week (21- 24 Dec)

Nifty futures prediction for the week 21-24 Dec

Primary Trend of Nifty futures for the week: Positive

Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 13860 whereas All Down Moves Initiates Short Covering (Buy) @ 13670

If Nifty share price in futures Moves Above 13782 and sustain. Then you should Buy with 1st Target of 13813 during the day or week with a Stop Loss of 13718 FOR the Target of 13813- 13840- 13865- 13924

Suppose Nifty share price in futures Moves Below 13718 and sustain. Then you should Sell with the 1st Target of 13695 during the day or week with a Stop Loss of 13782. FOR the Target of 13695- 13662- 13628 -13570

Bank Nifty futures prediction for the week 21-24 Dec

Primary Trend of Bank Nifty future for the week: Positive

Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 31130, whereas All Down Moves Initiates Short Covering (Buy) @ 30300

If Bank Nifty share price in the futures Moves Above 30790 and sustain. Then you should Buy with the 1st Target of 30910 during the day with a Stop Loss of  30510. FOR the Target of 30910 – 31018- 31130- 31370

If Bank Nifty shares price in the future Moves Below 30510 and sustained. Then you should Sell with the 1st Target of 30420 during the day with a Stop Loss of 30350. FOR the Target of 30420- 30290- 30150 – 29915

Global market cues

 

In the coming week, Global markets will be in a Christmas celebration mood. Next week, most of the markets will have only four trading days due to Christmas Celebration. The US and UK will announce their GDP numbers on Tuesday. Investors should watch out for the weekly US jobless claim numbers as it was high in the previous week.

Other than macroeconomic data, the market is eagerly waiting for the US stimulus package of $900 billion to announced ahead of Christmas. On the other hand, the post-Brexit trade deal talks deadline has been extended for the final consensus. If the EU and the UK failed to strike a deal by January 1st, 2021, then they need to follow the World Trade Organisation rules for imports and exports. Investors will closely watch out for these two events which would set the market direction next week.

 

FII & DIIs investment

 

In the month of December FIIs bought Rs 38734.10 crore while DIIs sold Rs 29651.18 crore in the cash market segments. On a weekly basis, FIIs bought Rs 11806.44 crores whereas DIIs sold Rs 11025.32 in the cash markets.

FIIs remain bullish on Indian stock markets and continued to invest in the cash market segment. If the buying spree continues market will remain bullish.

 

You may also like to read, Indian Stock Market Index updates for the week 14-18 Dec

10 Best Stock Market books to read while in quarantine

Happy Investing!!

Editor’s Desk

 

Disclaimer

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