Sensex, Nifty & Bank Nifty Share Price and Target for 15th April
Sensex, Nifty & Bank Nifty Share Price and Target for 15th April
Sensex, Nifty & Bank Nifty Share Price and target 15th April: Indian stock market closed in a negative note today, Nifty50 on spot has closed below 9000 levels. The market opened in a weak note in the morning after getting a negative indication from the Asian markets.
The market sentiments were subdued as the World Bank in its South Asia Economic Focus report has said that India may record its worst growth performance since 1991 due to coronavirus outbreak disrupts the economy. It is also said that India’s economy is expected to 1.5% to 2.8% in FY21.
Nifty and Bank Nifty share price on spot level
On spot level, the Nifty share price was down 118.05 points or 1.30% while Sensex declined by 469.60 points or 1.51%. The Bank Nifty share price was down by 425.60 points or 2.14% and closed at the 19488 marks
The midcap and smallcap index has also declined today. The Nifty midcap 100 index was down by 118.05 points or 1.30% whereas the Nifty smallcap 100 index was down by 19.85 points or 0.52%.
The Nifty and Bank Nifty share price target in futures for 15th April
Primary Trend of Nifty Futures share price: Down
Range-Bound Trend of Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 9170 whereas All Down Moves Initiates Short Covering (Buy) @ 8850
If Nifty futures share price Moves Above 9077 and sustain. Then you should Buy with 1st Target of 9118 during the day with a Stop Loss of 9000 FOR the Target of 9118- 9170- 9210
If Nifty futures share price Moves Below 9000 and sustain. Then you should Sell with 1st Target of 8975 during the day with a Stop Loss of 12308. FOR the Target of 8975- 8928- 8884
Bank Nifty share price future for 15th April 2020
Primary Trend of Bank Nifty Future: Down
Range-Bound Trend of Bank Nifty Future:
All up Moves Initiates Profit Booking (Sale) @ 32350, whereas All Down Moves Initiates Short Covering (Buy) @ 31870
If Bank Nifty share price future Moves Above 19680 and sustain. Then you should Buy with 1st Target of 19840 during the day with a Stop Loss of 19480. FOR the Target of 19840 – 20003- 20150
If Bank Nifty share price future Moves Below 19480 and sustained. Then you should Sell with 1st Target of 19360 during the day with a Stop Loss of 19680. FOR the Target of 19360 – 19208- 19040
Conclusions:
Indian share market is closed on 14th April on account of Dr. Ambedkar Jayanti. The March CPI has come at 5.91% as against 6.6% in February, the lower CPI is due to the drop in crude oil prices. Indian market already discounted the lower inflation for the month of March.
Wednesday, the trader should follow the global cues before placing any orders and can follow our Nifty and Bank Nifty share price target for 15th April.
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