Nifty & Bank Nifty index share price- Nifty gained 206 pts, Sensex above 31K

 

Nifty & Bank Nifty index share price in futures for 23rd April: Indian stock market closed in the green with Nifty closed near 9200 levels. The market was range-bound in the morning and later in the afternoon extended its gain. 

Today morning traders were concerned with a survey by FICCI-Dhruva showing that as many as 72% of businesses surveyed as part of a report said they expect to see a very high impact from the coronavirus pandemic and the steps taken to counter it. The joint survey of ASSOCHAM-Primus Partners showed that economic stress on the industry could last more than a quarter due to the nationwide lockdown.

Later in the afternoon, the positive global market lifted the market and extended the morning gains.

 

Sensex, Nifty and Bank Nifty index share price today on spot level

At close, the Nifty50 index share price gained 205.85 points or 2.30% and at 9187.30 while Sensex was up by 742.84 points or 2.43% and at 31379.55. The Bank Nifty index share price was volatile today in the end, it gained 292.45 points or 1.51% and closed at 19701.80.

The Nifty midcap and smallcap index closed in the green today. The midcap index gained 0.75% whereas the smallcap was up by 0.52% for the day.

The top gainers in the Nifty50 index are Zee Entertainment, Reliance, Asian Paints, Bajaj Finserve, Indusind Bank. On the losing side in the Nifty50 index are ONGC, Vedanta, Larsen & Toubro, Cipla, and HDFC.

On a sectoral basis, Automobiles, Banking & Finance, Media, FMCG, and Oil & Gas are gainers. The sectors that closed in the red today are Real Estate, Paper, Manufacturer, Infrastructure, and Aviation.

 

Nifty and Bank Nifty index share price in futures today

The Nifty future share price opened today at 9001, it was up by 29.40 points. It has touched an intraday high at 9219.90 and a day’s low at 8933.25 

During the day Nifty future share price has given a movement of 286.65 points. In the end, it was gained 228.40 points and closed at Rs 9200

The Bank Nifty future share price today opened at 19240, it was down by 93.85 points. It has touched an intraday high at 19837.30 and a day’s low at 19002.

During the day the Bank Nifty future share price has given a movement of 835.30 points. In the end, it was up 394.80 points and closed at 19728.65.

 

Nifty Future share price target for 23rd April 2020

Primary Nifty Trend in futures: Bearish

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 9380 whereas All Down Moves Initiates Short Covering (Buy) @ 9000

If Nifty futures share price Moves Above 9224 and sustain. Then you should Buy with 1st Target of 9290 during the day with a Stop Loss of 9115 FOR the Target of 9290- 9352- 9384

If Nifty futures share price Moves Below 9115 and sustain. Then you should Sell with 1st Target of 9060 during the day with a Stop Loss of 9224. FOR the Target of 9060- 9008- 8930

 

 Bank Nifty index share price in future  23rd April 2020

Primary Trend of Bank nifty Future: Bearish

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 20360, whereas All Down Moves Initiates Short  Covering (Buy) @ 19200

If Bank Nifty future share price Moves Above 19820 and sustain. Then you should Buy with 1st Target of 20040 during the day with a Stop Loss of  19520 FOR the Target of 20040 – 20200- 20360

If Bank Nifty future share price Moves Below 19520 and sustained. Then you should Sell with 1st Target of 19365 during the day with a Stop Loss of 19820 FOR the Target of 19365 – 19210- 18960

 

Conclusions: 

Indian stock market closed in positive today with the support of the global market. The benchmark indices closed near the day’s high today. Index heavyweight Reliance Industries (RIL) was the single biggest contributor to rise in benchmark indices RIL spurted about 10% after the news of Facebook-Jio deal. 

Traders should be cautious as FIIs and DIIs are both net sellers in the cash segment in the month of April. The Brent crude price is trading almost 15% higher today at $22.15 per barrel. Traders should avoid any overnight carry forward position. Traders can also follow our Nifty and Bank Nifty index share price in futures for 23rd April.

 

You can also read, Your Stock Broker will never say these Hidden Charges.

                               Nifty50 Stocks list | Index | Share price

10 Best Stock Market books to read while in quarantine

If you like the post please share with your friends and others

Happy Investing!

Editor

 

Disclaimer-Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.