Nifty and Bank Nifty Prediction for Tomorrow 28 July 2021
Nifty and Bank Nifty Prediction for tomorrow, 28 July 2021: The Indian stock markets opened higher on Monday amid positive global cues. The indexes were trading above their neutral lines till the late morning session. The markets fell in the second half due to the weakness in other Asian markets on the back of selling in the Healthcare, Banking, and Oil & Gas stocks.
The market sentiments were cautious after a private report stating that business resumption activities, which had been gathering pace after the end of the second wave of coronavirus, moderated for the week ended July 25. The Nomura India Business Resumption Index (NIBRI) declined to 95.3 from the previous week’s high of 96.4, stressing that it continues to be above the pre-second wave levels.
Today’s market updates: Sensex, Nifty, and Bank Nifty spot price
Finally, Nifty declined by 78 points or 0.49 percent and closed at 15746.45 while Sensex was down by 273.51 points or 0.51 percent and finished at 52578.76 levels. The Bank Nifty on the spot price also fell by 152.25 points or 0.43 percent and ended at 34787.45 levels.
The midcap and smallcap index also closed in the red today. The Nifty midcap index declined 118.75 points or 0.43 percent and closed at 27455.10 levels. The Nifty smallcap index was slightly down by 1.80 points and closed flat at 10432.95 levels.
The top five gainers in the Nifty 50 index were Hindalco, SBI Life, Tata Steel, Bajaj Finserve, and SBI. The top five losers are Dr. Reddy, Cipla, Axis Bank, Adani Ports, and Divis Lab. The most active stocks in terms of value were Dr. Reddy, HDFC Bank, and Tata Motors. The most active stocks in terms of volume were Tata Motors, Hindalco, and ITC.
On the sectoral front, the Insurance, Metals, Finance, and Realty sectors closed higher today. The sectors that closed in the red were Healthcare, Oil & Gas, Infrastructure, Banking, Automobiles, and IT sectors closed in the red.
Nifty and Nifty Bank futures price movement for 27 July 2021 ( July Expiry)
The Nifty futures price opened at 15840.05 and made a positive opening of 19.6 points. It has touched an intraday high at 15869.95 and a day’s low at 15693.05
The Nifty futures price has given a movement of 176.9 points today. In the end, it declined 86.55 points or 0.55 percent and ended at 15733.90 levels.
The Bank Nifty futures opened at 35039.95. It made a negative opening of 151.9 points today. It has touched an intraday high at 35188 and a day’s low at 34710.30
During the day, the Bank Nifty in futures has given a movement of 477.7 points. In the end, it closed lower by 145.6 points or 0.42 percent and closed at 34817.20 levels
Nifty and Bank Nifty Prediction for Tomorrow, 28 July 2021 (July Expiry)
Nifty Futures Prediction for Tomorrow 28 July 2021
Primary Nifty Trend in futures: Mild Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15800 whereas All Down Moves Initiates Short Covering (Buy) @ 15650
If the Nifty futures share price Moves Above 15770 and sustain. Then you should Buy with 1st Target of 15805 during the day with a Stop Loss of 15703 FOR the Target of 15805-15840- 15885
If the Nifty futures share price Moves Below 15703 and is sustained. Then you should Sell with the 1st Target of 15660 during the day with a Stop Loss of 15770. FOR the Target of 15660- 15626 -15588
Bank Nifty Futures Prediction for Tomorrow, 28 July 2021
Primary Trend of Bank Nifty Futures: Positive & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35200, whereas All Down Moves Initiates Short Covering (Buy) @ 34650
Suppose the Bank Nifty futures Moves Above 34935 and sustain, then you should Buy with the 1st Target of 35040 during the day with a Stop Loss of 34700. FOR the Target of 35040 – 35120 – 35240
If the Bank Nifty futures Moves Below 34700 and sustain, then you should Sell with the 1st Target of 34620 during the day with a Stop Loss of 34935. FOR the Target of 34620 – 34535 – 34427
Global markets today
On the global front, Asian markets closed mixed on Tuesday as Chinese tech stocks in Hong Kong remained under pressure after sharp falls on Monday. European markets are trading lower on Tuesday as sharp falls in Hong Kong and Shanghai dragged on market sentiments along with below-par quarterly sales from Reckitt Benckiser. The US future indexes are trading marginally lower at this moment at 4.30 pm IST
Conclusions
The Indian markets closed negative for the second consecutive day. The markets dragged due to weakness in the Asian markets as Chinese and Hong Kong share tumbles due to regulatory clampdowns. The volatility index India VIX rose more than 6 percent today.
Going forward Indian stock markets would remain volatile for this week due to the Fed’s meeting outcome, weakness in Chinese and Hong Kong markets, Corporate earnings, and F&O monthly expiry. Traders should remain cautious during the week and trade with strict stop loss.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction on daily basis.
Also read, Must read before opening Demat & Trading account online
Stock Market Prediction Next Week (26 to 30 July 2021)
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Editor’s Desk
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