Day Trading Strategy- Nifty & Bank Futures for 18 March
Day trading Strategy | Nifty and Bank Nifty futures for tomorrow 18 March
Day trading strategy for Nifty & Bank Nifty futures: Indian stock markets opened positive amid mixed global cues in the morning. Markets traded volatile in the first half of the day but fell sharply in the post-lunch session. In the end, the benchmark indices declined more than 1 percent from the previous close.
The market sentiment was negative as investors weighed the impact of rising coronavirus cases in the country and awaited the FOMC meeting outcome. The market sentiments turned pessimistic with India Ratings and Research (Ind-Ra) in its latest report stated that the performance of unsecured asset classes, such as microfinance loans, unsecured business loans, and consumer loans is worsening with the deteriorating financial conditions of borrowers. For secured asset classes, it has a stable performance outlook given the recovery in the economy in FY22.
Today’s Market: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 189.15 points or 1.26 percent and closed at 14721.30 levels while Sensex declined 562.34 points or 1.11 percent and finished at 49801.62 levels. The Bank Nifty on the spot price closed lower by 575.35 points or 1.65 percent and ended at 34229.25 levels.
The Nifty midcap and smallcap indices closed in the deep red today. The Nifty midcap index fell 596.70 points or 2.48 percent and closed at 23451.60 levels. The smallcap index was down by 186.25 points or 2.21% and ended at 8255.15 levels.
The top five gainers in the Nifty 50 index were ITC, Infosys, HDFC, TCS, and Divis labs. The top five losers in the Nifty 50 index were ONGC, BPCL, Tata Motors, Adani Ports, and Coal India. The most active stocks in the Nifty 50 index were Reliance, ITC, and HDFC Bank.
On a sectoral basis, all major sectors were closed in the red today. The sectors that dragged down the markets were Metals, Oil & Gas, Healthcare, Capital Goods, and Banking.
Today’s day trading levels of Nifty & Bank Nifty futures
The Nifty futures share price opened at 14968 made a positive opening of 8.3 points. It has touched an intraday high at 14981.15 and a day’s low at 14741.20
The Nifty futures share price has given a movement of 239.95 points. In the end, it declined by 203.7 points or 1.36 percent and closed at 14756 levels.
The Bank Nifty futures share price opened at 34900 It made a negative opening of 23.4 points today. It has touched an intraday high at 35184.15 and a day’s low at 34230.25
During the day, the Bank Nifty futures share price has given a movement of 953.9 points. In the end, it declined 678.4 points or 1.94 percent and closed at 34245 levels.
Nifty & Bank Nifty futures day trading strategies for tomorrow 18 March (March Expiry)
Nifty futures intraday trading levels for tomorrow 18 March 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14850 whereas All Down Moves Initiates Short Covering (Buy) @ 14600
If the Nifty futures share price Moves Above 14830 and sustain. Then you should Buy with 1st Target of 14859 during the day with a Stop Loss of 14718 FOR the Target of 14859-14902- 14947
If the Nifty futures share price Moves Below 14718 and sustain. Then you should Sell with the 1st Target of 14672 during the day with a Stop Loss of 14830. FOR the Target of 14672- 14630 -14590
Bank Nifty futures intraday trading levels for tomorrow 18 March 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34500, whereas All Down Moves Initiates Short Covering (Buy) @ 33750
Suppose Bank nifty share price in futures Moves Above 34550 and sustain, then you should Buy with the 1st Target of 34710 during the day with a Stop Loss of 34180. FOR the Target of 34710 – 34875 – 35190
If Bank nifty share price in the futures Moves Below 34180 and sustained, then you should Sell with the 1st Target of 33920 during the day with a Stop Loss of 34550. FOR the Target of 33920 – 33760 – 33595
Global markets today
On the global fronts, Asian markets were mostly closed in the red today as traders cautiously awaited the US central bank’s latest comments on the economic outlook. European markets are mostly trading lower on Wednesday as investors decided to stay on the sidelines ahead of the US Federal Reserves policy decision. In the US markets, Dow future is trading flat and Nasdaq’s future is trading lower at 5 pm IST.
Conclusions:
Indian stock market closed in the red for the fourth consecutive day today. Heavy selling witnessed in the PSU banking, metals, and energy stocks, almost all sectors closed in the red. Indian markets may remain volatile tomorrow due to Fed’s meeting outcome, traders need to remain cautious tomorrow.
Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures day trading strategy for tomorrow, 18 March 2021.
Also read, Nifty and Bank Nifty levels for the next week [15-19 March]
Intraday Trading books to make money from Stock Markets
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