Nifty | Bank Nifty futures prediction for 27 Jan 2021
Markets closed lower today, Nifty and Bank Nifty futures prediction for 27 Jan 2021
Nifty & Bank Nifty futures prediction for 27 Jan 2021: Indian stock market opened strong as indicated by the Asian peers in the morning. The markets erase all early gains after just a few minutes of trading in the morning. The Sensex and Nifty were altering between green and red terrain throughout the day as mixed cues from the Asian markets impacted sentiments over the Dalal Street. In the end, the benchmark indices closed in the negative zone today.
However, the downside remained capped after the UN has said that Foreign Direct Investment into India rose by 13% in 2020, boosted by interest in the digital sector. The fund flows declined most strongly in major economies such as the UK, the US, and Russia due to the Coronavirus pandemic, Indian and China ‘bucked the trend’. An ‘investment trends monitor’ issued by the United Nations Conference on Trade and Development (UNCTAD) on Sunday said that global foreign direct investment (FDI) collapsed in 2020 by 42% to an estimated USD 859 billion from USD 1.5 trillion in 2019.
On the global front, Asian markets were closed mostly in the green today, as Hang Seng gained 2.4% closing near the highest level since May 2019. The European markets are trading flat as tech shares and upbeat corporate earnings hold the market’s sentiments. The US futures indices, Dow, and Nasdaq futures are trading marginally higher at 4 pm IST
Today’s Market- Nifty, Sensex, and Bank Nifty on the spot price
At the close, Nifty declined by 133 points or 0.92% and at 14238.90 level while Sensex fell 530.95 points or 1.08% and closed at 48347.59 levels. The Bank Nifty on the spot price closed marginally higher by 31.15 points or 0.10% and ended at 31198.40 levels.
The Nifty midcap and smallcap indices closed in the red today. The Nifty midcap index closed lower by 203.85 points or 0.94% and at 21455.20 levels. The smallcap index fell 86.60 points or 1.18% and finished at 7261.60 levels today.
The top five gainers and in the Nifty 50 index for the day were Grasim, UPL, Cipla, Hero Motorcop, and Axis Bank. The top five losers in the Nifty 50 index for the day were Reliance, IndusInd Bank, HCL Tech, Tata Motors, and Eicher Motors. The most active stocks in the Nifty 50 index for the day were Reliance, Tata Motors, and HDFC.
On a sectoral basis, barring Healthcare and Manufacturing all other sectors closed in the red today. The sectors that closed in the deep red today were Oil & Gas, Power, IT & Software, Finance, and Capital Goods.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 14475, it made a positive opening of 94.85 points. It has touched an intraday high at 14497.75 and a day’s low at 14233.60
The Nifty futures share price has given a movement of 264.15 points. In the end, it fell 126.15 points or 0.88% and closed at 14254 levels.
The Bank Nifty futures share price opened at 32469.95 It made a positive opening of 272.2 points today. It has touched an intraday high at 31700 and a day’s low at 30989.90
During the day, the Bank Nifty futures share price has given a movement of 710.1 points. In the end, it closed flat and declined only 9.75 points or 0.03%, and closed at 31188 levels.
Nifty and Bank Nifty futures prediction for 27 Jan ( Jan Expiry)
Nifty futures prediction for 27 Jan 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14380 whereas All Down Moves Initiates Short Covering (Buy) @ 14150
If the Nifty futures share price Moves Above 14330 and sustain. Then you should Buy with 1st Target of 14358 during the day with a Stop Loss of 14170 FOR the Target of 14358-14376- 14397
If the Nifty futures share price Moves Below 14170 and sustain. Then you should Sell with the 1st Target of 14150 during the day with a Stop Loss of 14665. FOR the Target of 14150- 14116 -14074
Bank Nifty futures prediction, 27 Jan 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31400, whereas All Down Moves Initiates Short Covering (Buy) @ 30900
Suppose Bank Nifty futures share price Moves Above 31430 and sustain. Then you should Buy with the 1st Target of 31655 during the day with a Stop Loss of 31080. FOR the Target of 31655 – 31800- 31956
If the Bank Nifty futures share price Moves Below 31080 and sustained. Then you should Sell with the 1st Target of 31000 during the day with a Stop Loss of 31430. FOR the Target of 31000 – 30875- 30650
Conclusions:
Indian markets traded volatile on the first day of the week and closed in the red. The heavyweight RIL reacted negatively on post-Q3 results, the stock fell more than 5% today. The news of Indian and China cross-border tension near the Sikkim border also dented the market sentiments today.
Indian stock markets will be closed tomorrow due to the Republic Day celebration. Going ahead markets would remain volatile this week due to monthly F&O expiry, 2021 Union Budget on 1st Feb, and Q3 corporate earnings.Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 27 Jan 2021.
Also read, Intraday Trading books to make money from Stock Markets
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