Nifty & Bank Nifty futures prediction for tomorrow 7 April

 

RBI Monetary Policy, 7 April || How to trade Nifty & Bank Nifty futures

 

Nifty & Bank Nifty futures tomorrow, 7 April: Indian stock market opened higher amid mixed Asian markets cues. The Bank nifty turned negative in the afternoon session and tried to drag down the markets. But the heavy buying in the Infrastructure, Healthcare, and Capital Goods sectors have supported the domestic markets to close above their neutral lines.

The market sentiments were positive as the Commerce and Industry Ministry in its latest data showed that Foreign Direct Investment (FDI) in equity inflows in the country grew by 28 percent to $54.18 billion during April-January 2020-21. Traders were optimistic today as the Finance Ministry report has shown confidence in the Indian economy and termed the economic recovery due to the continuous improvement in high-frequency indicators.

The monthly Economic Review for March 2021 released by the Department of Economic Affairs (DEA) said that the agricultural sector remains the bright spot of the Indian economy. The foodgrains production has touched 303.3 million tonnes in 2020-2, beating the record production levels for the fifth consecutive year in a row.

 

Stock Market Today: Sensex, Nifty, and Bank Nifty

 

At the close, Nifty gained 45.70 points or 0.32 percent and closed at 14683.50 levels while Sensex closed higher by 42.07 points or 0.09 percent and finished at 49201.39 levels. The Bank Nifty on the spot price remained volatile today, declined 177.50 points or 0.54 percent, and ended at 32501.35 levels.

Today midcap and smallcap outperformed the benchmark indices. The Nifty midcap index gained 217.60 points or 0.91 percent and closed at 24016.20 levels. The Nifty smallcap index was up by 110.50 points or 1.35 percent and finished at 8272.50 levels.

The top five gainers in the Nifty 50 index were Adani Ports, Tata Cons. Prod, Asian Paints, JSW Steel, and SBI Life. The top five losers in the Nifty 50 index were Power Grid, Eicher Motors, IndusInd Bank, Axis Bank, and Grasim. The most active stocks in the Nifty 50 index were Adani Port, Tata Motors, and Tata Steel.

On a sectoral basis, Infrastructure, Pharma, Metals, FMCG, and Financial sectors closed in the green today. The sectors that closed in the red were Banks, Oil & Gas, and Consumer Durables.

 

Nifty and Bank Nifty futures movement today, 6 April 2021

 

The Nifty share price in futures opened at 14750.10 made a positive opening of 51.65 points. It has touched an intraday high at 14849 and a day’s low at 14616

The Nifty futures share price has given a movement of 233 points. In the end, it gained 65.05 points or 0.44 percent and ended at 14763.50 levels.

The Bank Nifty futures share price opened at 33021 It made a positive opening of 203.85 points today. It has touched an intraday high at 33175 and a day’s low at 32461.65

During the day, the Bank Nifty futures share price has given a movement of 713.35 points. In the end, it closed lower by 100.2 points or 0.31 percent and closed at 32716.95 levels.

 

Nifty & Bank Nifty futures prediction for tomorrow 7 April ( April Expiry)

 

 

Nifty futures prediction for tomorrow 7 April 2021

 

Primary Nifty Trend in futures: Volatile

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14850 whereas All Down Moves Initiates Short Covering (Buy) @ 14640

If the Nifty futures share price Moves Above 14809 and sustain. Then you should Buy with 1st Target of 14841 during the day with a Stop Loss of 14730  FOR the Target of 14841-14870- 14916

If the Nifty futures share price Moves Below 14730 and sustain. Then you should Sell with the 1st Target of 14690 during the day with a Stop Loss of 14809. FOR the Target of 14690- 14638 -14585

 

 

Bank Nifty futures prediction for tomorrow, 7 April 2021

 

Primary Trend of  Bank Nifty Futures: Volatile

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33300, whereas All Down Moves Initiates Short  Covering (Buy) @ 32400

Suppose Bank nifty share price in futures Moves Above 32890 and sustain, then you should Buy with the 1st Target of 33018 during the day with a Stop Loss of  32590. FOR the Target of 33018 – 33310 – 33480

If Bank nifty share price in the futures Moves Below 32590 and sustained, then you should Sell with the 1st Target of 32395 during the day with a Stop Loss of 32890. FOR the Target of 32395 – 32220 – 32070

 

Global markets today 

 

On the global fronts, Asian markets closed in a mixed state on Tuesday as China’s service sector grew at a faster pace in March. European markets are trading higher on Tuesday after a long holiday tracking overnight positive cues from Wall Street on global economic recovery. The US futures indices, Dow, and Nasdaq futures are trading lower at this moment ( at 5 pm IST)

 

Conclusions: 

 

Indian stock markets closed marginally higher after yesterday’s sharp fall. It was a highly volatile trading session today and the key indices managed close in the green. Indian markets got some support from positive global markets. The broader markets have seen some healthy buying interest as midcap and smallcap outperformed the benchmark indices.

Going ahead, tomorrow the market will remain volatile due to RBI monetary policy meeting outcome and Service PMI data announcement. You can also follow our daily morning market updates report and Nifty and Bank Nifty futures for 7 April.

 

Also read,    Nifty Fifty [NIFTY 50] & Bank Nifty futures weekly prediction   

                    What is SGX Nifty? Can Indian trade in SGX Nifty?  

 

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Editor’s Desk

 

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