Nifty & Bank Nifty futures ahead of GDP numbers | 26 Feb
How to trade Nifty and Bank Nifty futures ahead of Q3 GDP numbers on 26 Feb
Nifty & Bank Nifty futures for 26 Feb: Indian equity markets opened a gap up in the morning tracking positive global cues. The markets were traded volatile due to the monthly F&O expiry with a positive bias. In the end, markets trimmed their intraday gains and closed in the green.
The Indian market sentiments were positive as the Central government has lifted the embargo placed granting businesses to private banks, which is expected to enhance customer convenience, spur competition, and higher the efficiency of standards of customer services. In a statement, the Department of Financial Services (DFS) said that ‘ The Government has lifted the embargo on private banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payments facilities, pension payments, small saving schemes, etc.
On the global front, Asian markets were closed in the green today. The European markets are trading in the green as Banks and mining shares are trading higher. The US futures indexes are trading mixed, Dow future is trading higher whereas the Nasdaq future is trading down.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty gained 115.35 points or 0.77% and closed at 15097.35 while Sensex jumped 257.62 points or 0.51% and finished at 51039.31 levels. The Bank Nifty on the spot price also gained 96.70 points or 0.27% and ended at 36549 levels.
The Nifty midcap and smallcap 100 indexes outperformed the benchmark indices today. The Nifty midcap index gained 356 points or 1.53% and closed at 23646.80 levels. The smallcap index was up by 144.20 points or 1.43% and ended at 8148.50 levels.
The top five gainers in the Nifty50 index for the day were Coal India, UPL, Adani Ports, Hindalco, and BPCL. The top five losers in the Nifty50 index were ICICI Bank, Nestle, Larsen, Titan, and Divis Lab. The most active stocks for today in the Nifty50 index were Reliance, ICICI Bank, and Tata Motors.
On the sectoral front, barring the FMCG sector, all other sectors were closed in the green today. Oil & Gas, Metals, Capital Goods, Finance, and Infrastructure sectors were the top gainers in the NSE today.
Nifty & Bank Nifty futures price today ( Feb Expiry)
The Nifty futures share price opened at 15078 made a gap up opening of 84.25 points. It has touched an intraday high at 15180.90 and a day’s low at 15050.35
The Nifty futures share price has given a movement of 130.55 points. In the end, it gained 105.55 points or 0.70% and closed at 15099.30 levels.
The Bank Nifty futures share price opened at 36502 It made a positive opening of 33.3 points today. It has touched an intraday high at 37243.40 and a day’s low at 36482.35
During the day, the Bank Nifty futures share price has given a movement of 761.05 points. In the end, it gained by 79.6 points or 0.22% and closed at 35548.30 levels.
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Nifty and Bank Nifty futures prediction for tomorrow 26 Feb ( March Expiry)
Nifty futures prediction for tomorrow 26 Feb 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15250 whereas All Down Moves Initiates Short Covering (Buy) @ 15070
If the Nifty futures share price Moves Above 15202 and sustain. Then you should Buy with 1st Target of 15230 during the day with a Stop Loss of 15115 FOR the Target of 15230-15248- 15284
If the Nifty futures share price Moves Below 15115 and sustain. Then you should Sell with the 1st Target of 15070 during the day with a Stop Loss of 15202. FOR the Target of 15070- 15034-15008
Bank Nifty futures prediction for tomorrow 26 Feb 2021
Primary Trend of Bank Nifty Futures:
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37150, whereas All Down Moves Initiates Short Covering (Buy) @ 36500
Suppose Bank Nifty futures share price Moves Above 36920 and sustain. Then you should Buy with the 1st Target of 37022 during the day with a Stop Loss of 36630. FOR the Target of 37022 – 37150- 37365
If the Bank Nifty futures share price Moves Below 36630 and sustained. Then you should Sell with the 1st Target of 36470 during the day with a Stop Loss of 36920. FOR the Target of 36470 – 36330- 36205
Conclusions:
Markets continued their yesterday rally and made a decent gain on the F&O expiry day. The strong FIIs inflow and global cues helped the Nifty futures to ends the February series above 15000 levels. The nifty midcap and smallcap outperform the benchmark indices today.
Going ahead traders should remain cautious ahead of the December end GDP numbers tomorrow. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty share price target in futures for 26 Feb 2021.
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