Nifty & Bank Nifty Tomorrow | Prediction for 31 March 2021
Market Prediction: Know how to trade Nifty & Bank Nifty tomorrow 31st March
Nifty & Bank Nifty Tomorrow, 31 March: Indian stock markets opened strong today after a long weekend. The key benchmark indices continued their Friday’s gain and traded above their crucial levels. In the end, Sensex and Nifty closed more than 2 percent higher.
The Indian market sentiments got boosted after S&P Global Ratings raised India’s GDP growth forecast for the financial year 2021-22 to 11 percent from 10 percent forecasted earlier. It has also raised the 2021 growth forecast for China to 8 percent from 7 percent earlier.
The market sentiments remained positive as Union Minister Piyush Goyal has said that India will be able to overtake China in its engagement with Bangladesh. He said India has been working relentlessly to build strong relations with all its neighboring countries. He also said Inda’s ability to add more value to the products and services has helped it expand trade ties with countries like Bangladesh.
Today’s market updates- Sensex, Nifty, and Bank Nifty on the spot
At the close, Nifty gained 337.80 points or 2.33 percent and closed at 14845.10 levels while Sensex was up by 1128.08 points or 2.31 percent and finished at 50136.58 levels. The Bank Nifty on the spot levels also climbed 556.90 points or 1.68 percent and ended at 33875.10.
The midcap and smallcap indices also made a decent gain today. The Nifty midcap 100 index gained 395.45 points or 1.70 percent and closed at 23609.40 levels. The smallcap index rose 100.90 points or 1.26 percent and finished at 8083.55 levels.
The top five gainers in the Nifty50 index were UPL, JSW Steel, Shree Cement, Tata Steel, and Wipro. The top losers in the Nifty50 index were Hindalco, Axis Bank, M&M, and Bharti Airtel. The most active stocks in the Nifty50 index for the day were Tata Steel, HDFC Bank, and Reliance.
On a sectoral front, barring the Hospitality and Aviation sectors, all other major sectors closed in the green today. The sectors that helped the market to trade higher today were IT & Software, FMCG, Healthcare, Banking, Metals, and Oil & Gas.
Nifty & Bank Nifty share price in futures today
The Nifty futures share price opened at 14700 made a positive opening of 91.5 points. It has touched an intraday high at 14949 and a day’s low at 14687
The Nifty futures share price has given a movement of 262 points. In the end, it gained 308.5 points or 2.11 %, and closed at 14917 levels.
The Bank Nifty futures share price opened at 33915.20 It made a positive opening of 330.50 points today. It has touched an intraday high at 34180 and a day’s low at 33693.60
During the day, the Bank Nifty futures share price has given a movement of 486.4 points. In the end, it gained by 495.3 points or 1.47% and closed at 34080 levels.
Nifty and Bank Nifty Tomorrow 31 March ( April Expiry)
Nifty futures prediction for tomorrow 31 March 2021
Primary Nifty Trend in futures: Range-bound
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15000 whereas All Down Moves Initiates Short Covering (Buy) @ 14850
If the Nifty futures share price Moves Above 14928 and sustain. Then you should Buy with 1st Target of 14952 during the day with a Stop Loss of 14850 FOR the Target of 14952-15013- 15054
If the Nifty futures share price Moves Below 14850 and sustain. Then you should Sell with the 1st Target of 14798 during the day with a Stop Loss of 14928. FOR the Target of 14798- 14754 -14718
Bank nifty futures prediction for tomorrow 31 March 2021
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37150, whereas All Down Moves Initiates Short Covering (Buy) @ 36250
Suppose Bank nifty share price in futures Moves Above 34140 and sustain, then you should Buy with the 1st Target of 34275 during the day with a Stop Loss of 33985. FOR the Target of 34275 – 34370- 34474
If the Bank nifty futures Moves Below 33985 and sustained, then you should Sell with the 1st Target of 33876 during the day with a Stop Loss of 34140. FOR the Target of 33876 – 33790- 33640.
Global markets today
On the global front, Asian markets closed higher on Tuesday as investors await the US infrastructure plan to be announced on Wednesday which is around $3 -$4 trillion. European markets are trading higher as banking stocks are on the lead in the hopes of vaccine-driven economic recovery. The US futures market, Nasdaq future is trading lower while Dow future is trading flat at this moment ( 5 pm IST)
Conclusions:
Indian markets started the week on a strong note. The Asian market’s sentiments were positive in the morning helped the domestic markets to trade higher. Almost all major sectors have contributed to today’s rally. The main concern at this moment for the Indian market is rising Covid-19 cases in India. Going ahead, Coronavirus-related restrictions and lockdown can increase market volatility in the coming days.
Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty tomorrow for 31 March 2021.
Also read, How to trade Nifty & Bank Nifty next week [ 30 Mar-1April ]
Best Options Trading Books in India-Must Read 2021
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