Nifty & Bank Nifty futures prediction tomorrow 29 April
Nifty & Bank Nifty futures prediction for tomorrow 29 April: Indian markets opened higher amid mixed cues from the global market peers. The market extended its early gains as optimism grew over the nation’s accelerated vaccination program to control the world’s largest surge in coronavirus infection and strong corporate earnings. Sensex and Nifty traded above their crucial levels in the second half due to heavy buying in Auto, Banking, and consumer discretionary.
Traders took support with Union Health Minister Harsh Vardhan’s statement that India is better prepared mentally and physically this year with more experience to beat the Covid-19 pandemic as compared to 2020. Adding more optimism, the head of an India-centric American business advocacy group has said that America’s corporate sector has stepped up its efforts to help India in its battle against the Covid-19 pandemic and ensures that lives are saved.
Today Market at Close: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty gained 211.50 points or 1.45 percent and closed at 14864.55 levels while Sensex climbed at 49733.84 levels, up by 789.70 points or 1.62 percent. The Bank Nifty on the spot level jumped 987.45 points or 3.02 percent and closed at 33722.80 levels.
The midcap and smallcap stocks also witnessed buying today. The Nifty midcap index gained 266.35 points or 1.11 percent and closed at 24313.50 levels. The Nifty smallcap index was up by 54.10 points or 0.64 percent and ended at 8543.25 levels.
The top five gainers in the Nifty50 index were Bajaj Finance, Eicher Motors, IndusInd Bank, Bajaj Finserve, and ICICI Bank. The top five losers in the Nifty50 index for the day were Britannia, Hindalco, HDFC life, Nestle, and BPCL. The most active stocks in the Nifty50 index were Bajaj Finance, Axis Bank, and ICICI Bank.
On a sectoral basis, Financial, Banking, Automobiles, Consumer Durables and telecom sectors closed higher. On the losing side, Metals, Insurance, Infrastructure, Real Estate, and Healthcare sectors closed lower today.
Nifty and Bank Nifty futures price movement today, 28 April 2021
The Nifty futures price opened at 14702.25 made a positive opening of 57.55 points. It has touched an intraday high at 14890.80 and a day’s low at 14685
The Nifty futures price has given a movement of 205.8 points today. In the end, it gained 201.75 points or 1.38 percent and ended at 14846.45 levels.
The Bank Nifty futures price opened at 32874 It made a positive opening of 132.05 points today. It has touched an intraday high at 33764.90 and a day’s low at 32833.90
During the day, the Bank Nifty futures price has given a movement of 931 points. In the end, it closed higher by 928 points or 2.83 percent and closed at 33669.95 levels.
Nifty & Bank Nifty futures prediction for tomorrow 29 April ( April Expiry )
Nifty futures prediction for tomorrow 29 April 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14950 whereas All Down Moves Initiates Short Covering (Buy) @ 14800
If the Nifty futures share price Moves Above 14870 and sustain. Then you should Buy with 1st Target of 14925 during the day with a Stop Loss of 14805 FOR the Target of 14925-14965- 15012
If the Nifty futures share price Moves Below 14805 and sustain. Then you should Sell with the 1st Target of 14765 during the day with a Stop Loss of 14870. FOR the Target of 14765- 14724 -14680
Bank Nifty futures prediction for tomorrow 29 April 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34350, whereas All Down Moves Initiates Short Covering (Buy) @ 33550
Suppose Bank nifty share price in futures Moves Above 33840 and sustain, then you should Buy with the 1st Target of 34080 during the day with a Stop Loss of 33418. FOR the Target of 34080 – 34180 – 34360
If Bank nifty share price in the futures Moves Below 33418 and sustained, then you should Sell with the 1st Target of 33154 during the day with a Stop Loss of 33840. FOR the Target of 33154 – 33018 – 32878
Global markets today
On the global front, Asian markets were mostly closed in the green on Wednesday as Japan’s retail sales data beat estimates. The European markets are trading higher as investors wait on the US Federal Reserve policy announcement later in the day. The US futures indices, Dow, and Nasdaq futures are trading marginally lower at this moment. ( 4.40 pm IST)
Conclusions
Indian stock market closed higher for the third consecutive day. The strong earning reported by the banking, auto, and financial stocks lifted the market sentiments today. The broader markets also closed in the positive zone. Indian markets are now looking positive but volatility would still remain in the coming two days due to the FOMC meeting outcome, monthly F&O expiry, and corporate earnings.
Traders should remain cautious tomorrow, due to the Federal Reserve policy decision later today and F&O expiry tomorrow. You can also follow our daily morning market updates report and Nifty and Bank Nifty futures prediction for tomorrow 29 April.
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