Nifty & Bank Nifty share price NSE Future for 22nd April
Nifty & Bank Nifty share price target in NSE Future for 22nd April
Nifty & Bank Nifty share price in NSE future for 22nd April: Indian stock market opened in the red after following the negative cues from the Asian market and later it extended its losses in the afternoon. The European market also opened in the deep red as US President Donald Trump’s claim that he will temporarily suspend immigration to America combined with a record-breaking fall in crude oil prices.
The Indian market sentiment remained downbeat with the report that investment through participatory notes (P-notes) in the domestic capital market plunged. It is now over the 15-year low of Rs 48,006 crore at the end of March amid high volatility in broader markets on concerns over coronavirus -triggered a recession.
Sensex, Nifty and Bank Nifty share price today on spot level
The benchmark indices closed more than 3% in the end. At close, Nifty50 was down by 280.40 points or 3.02% and at 8981.45 while Sensex declined by 1011.29 points or 3.19% and at 306336.71. The Bank Nifty tanks 1113.35 points and closed at 19409.30. The Nifty midcap and smallcap 100 indexes also closed in negative by 3.09% and 3.82% respectively.
In the Nifty50 stocks, the top gainers for the day are Dr. Reddy’s Lab, Bharti Infratel, Bharti Airtel, Hero Motor Corp, and Cipla. The top losers in the Nifty50 space are IndusInd Bank, Bajaj Finance, ICICI Bank, Zee Entertainment, and Hindalco.
On a sectoral basis, except for Pharma and Telecom, all major sectors closed in the red. Manufacturing, Banking & Finance, Infrastructure, Metal, and IT & Software are closed around 4-7% down today.
Nifty and Bank Nifty share price NSE Future today
The Nifty future share price today opened at 9031.05, it was down by 229.45 points. It has touched an intraday high at 9066.30 and a day’s low at 8909.40
During the day Nifty future share price has given a movement of 156.90 points. In the end, it was down 299.45 points and closed at Rs 8961.05
The Bank Nifty future share price today opened at 19825, it was down by 657 points. It has touched an intraday high at 19880 and a day’s low at 19166.95.
During the day the Bank Nifty future share price has given a movement of 713.05 points. In the end, it fell 1223.75 points and closed at 19258.45.
Nifty share price in NSE Future target for 22nd April 2020
Primary Nifty Futures Trend: Down
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 9040 whereas All Down Moves Initiates Short Covering (Buy) @ 8890
If Nifty futures share price Moves Above 8994 and sustain. Then you should Buy with 1st Target of 9018 during the day with a Stop Loss of 8925 FOR the Target of 9018- 9045- 9092
If Nifty futures share price Moves Below 8925 and sustain. Then you should Sell with 1st Target of 8891 during the day with a Stop Loss of 8994. FOR the Target of 8891- 8856- 8822
Bank Nifty share price NSE future target 22nd April 2020
Primary Trend of Bank nifty Future: Down
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 19920, whereas All Down Moves Initiates Short Covering (Buy) @ 18400
If Bank Nifty future share price Moves Above 19455 and sustain. Then you should Buy with 1st Target of 19570 during the day with a Stop Loss of 18990 FOR the Target of 19570 – 19705- 19925
If Bank Nifty future share price Moves Below 18990 and sustained. Then you should Sell with 1st Target of 18855 during the day with a Stop Loss of 19455 FOR the Target of 18855 – 18725- 18376
Conclusions:
Indian stock market closed in the red today, the fall in the market is due to the crash in crude oil prices. The international benchmark, Brent crude oil future is currently trading at $21.55 per barrel, almost 16% down from the previous close. The crude is falling due to lower demand and the impact of slowdown and lockdown across the world.
We already cautioned equity traders in our last reports and informed that the equity market would correct due to falling crude prices. As crude is continuously trading lower, the global market may fall further. Traders should remain cautious especially in the carryforward position and should follow global markets and crude prices closely. Traders can also follow our Nifty and Bank Nifty share price NSE future for 22nd April
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