Nifty and Bank Nifty prediction for tomorrow 20 April
Nifty & Bank Nifty prediction for tomorrow 20 April: Indian stock markets opened gap-down amid positive global cues. Markets continued to trade in deep red today as Indian reported a record spike in daily coronavirus cases. Several states in India are imposing lockdowns due to a spike in coronavirus cases.
The market sentiments were negative as FPIs have pulled out a net Rs 4615 crores from the Indian markets in April so far amid a sharp escalation in coronavirus cases and the consequent lockdown and restrictions imposed by several states. The broader indices were also traded on a weak note today as heavy selling witnessed in the midcap and smallcap indices on the back of selling in Bankex, PSU, and Realty counters.
Today’s market update: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 258.40 points or 1.76 percent and closed at 14359.45 levels while Sensex was down by 882.61 points or 1.80 percent and finished at 47949.42 levels. The Bank Nifty on the spot price recovered some intraday losses and closed at 769.05 points down at 31208.40 levels.
The midcap and smallcap indices were also closed lower today. The Nifty midcap index was down by 504.30 points or 2.12 percent and closed at 23256.35 levels. The Nifty smallcap index slipped 198.10 points or 2.40 percent and ended at 8065.50 levels.
The top five gainers in the Nifty50 index were Dr. Reddy’s Lab, Britannia, Cipla, Wipro, and Infosys. The top five losers in the Nifty50 index were Adani Ports, Power Grid Corp, ONGC, Hero Motocorp, and Bajaj Finance. The most active stocks in the Nifty50 index were Wipro, Tata Motors, and SBI.
On a sectoral basis, barring the healthcare sector, all other sectors were closed in the red. The sector that dragged the markets lower were Automobiles, Banking, Finance, Infrastructure, Metals, and Real Estate.
Nifty and Bank Nifty futures price movement today, 19 April 2021
The Nifty futures price opened at 14399 made a negative opening of 246.7 points. It has touched an intraday high at 14408.85 and a day’s low at 14213
The Nifty futures price has given a movement of 195.85 points today. In the end, it declined 261.7 points or 1.79 percent and ended at 14384 levels.
The Bank Nifty futures price opened at 31105.25 It made a gap-down opening of 970.4 points today. It has touched an intraday high at 31337.50 and a day’s low at 30451.60
During the day, the Bank Nifty futures price has given a movement of 885.9 points. In the end, it closed lower by 808.25 points or 2.52 percent and closed at 31267.40 levels.
Nifty & Bank Nifty futures prediction for 20 April ( April Expiry)
Nifty futures prediction for tomorrow 20 April 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14430 whereas All Down Moves Initiates Short Covering (Buy) @ 14200
If the Nifty futures share price Moves Above 14430 and sustain. Then you should Buy with 1st Target of 14465 during the day with a Stop Loss of 14330 FOR the Target of 14465-14495- 14525
If the Nifty futures share price Moves Below 14330 and sustain. Then you should Sell with the 1st Target of 14298 during the day with a Stop Loss of 14430. FOR the Target of 14298- 14260 -14202
Bank Nifty futures prediction for 20 April 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31500, whereas All Down Moves Initiates Short Covering (Buy) @ 30850
Suppose Bank nifty share price in futures Moves Above 31350 and sustain, then you should Buy with the 1st Target of 31474 during the day with a Stop Loss of 30950. FOR the Target of 31474 – 31630 – 31860
If Bank nifty share price in the futures Moves Below 30950 and sustained, then you should Sell with the 1st Target of 30860 during the day with a Stop Loss of 31350. FOR the Target of 30860 – 30770 – 30515
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Global markets today
On the global fronts, Asian markets mostly closed in the green on Monday due to the continued optimism over global economic recovery and positive corporate earnings news, and strong economic data in the US and China. European markets are trading marginally higher on Monday as optimism about a solid start to the earnings season offset a worrying resurgence in Coronavirus infections globally. The US futures indices, Dow, and Nasdaq futures are trading lower at this moment ( 5 pm IST)
Conclusions
Indian stock markets started the week on pessimistic notes, markets fell sharply in the morning but in the end recovered some intraday losses. Nifty PSU Bank index declined sharply today followed by financials, Realty, and Auto sectors. As the Covid-19 cases are increasing on a continuing basis, we may see more downside in the markets. The sectors like IT, Pharma, Telecom, and Consumer durables will be less impacted and can provide some support in the market.
You can also follow our daily morning market updates report and Nifty and Bank Nifty futures prediction for tomorrow 20 April.
Also read, Intraday Trading books to make money from Stock Markets
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