Expert view on Bank Nifty & Nifty futures for next week

 

 

Expert view on Bank Nifty & Nifty futures for Next Week (19 – 23 July): Indian stock markets finished more than a percent higher during the week ended 16 July. The market sentiments were positive due to positive economic data, domestic institutional buying, and strong Q1FY22 earnings reported during the week. However, the weak global cues especially from U.S and Europe, and FIIs outflow restrict the markets on the higher side.

Factors that may impact the Indian stock market direction and expert view on Bank Nifty and Nifty futures for the next week (19-23 July) are

 

Corporate earnings for Q1FY22

 

The June-end quarter earnings season has just started. So far, the corporate Q1 earnings were good except for TCS.  HDFC Bank reported its Q1 earnings on 17 July. India’s largest private sector lender missed street estimates, as banks’ asset quality worsened and provision has increased. Net profit for the first quarter stood at Rs 7729.62 crore, up 16% YoY.  

On Monday, Bank Nifty may trade under pressure due to HDFC bank Q1 results. The other Nifty50 companies that are going to announce their Q1 results next week are given below. 

 

Q1 FY22 Results dates for Nifty50 Stocks
19 July 2021	HCL Tech
19 July 2021	HDFC Life
20 July 2021	Asian Paints
20 July 2021	Bajaj Finance
21 July 2021	Bajaj Finserve
22 July 2021	Bajaj Auto
22 July 2021	HUL
23 July 2021	JSW Steel
23 July 2021	Reliance
24 July 2021	ICICI Bank
24 July 2021	ITC

 

Global market cues

 

The global indexes closed mixed during the week ended 16 July. The US and European market indexes closed in the red due to the concern about high inflation data and surge in delta variant of Covid-19 infections. Whereas major Asian market indexes closed in the green after positive economic data and in hopes of economic recovery. Other than corporate earnings, the global markets may impact on the release of the below macroeconomic data in the next week.

 

Important Global Macro Data Next Week
20 July 2021	Inflation rate	Japan
20 July 2021	Loan Prime rate	China
21 July 2021	Balance of Trade- Export/Import	Japan
21 July 2021	BOJ monetary policy minutes	Japan
22 July 2021	US Jobless Claim	US
23 July 2021	Gfk Consumer confidence	GB
23 July 2021	Retail sales	GB
23 July 2021	Markit/CIPS PMI flash	GB
23 July 2021	Markit/CIPS PMI flash	US

 

Expert view on Bank Nifty & Nifty Futures next week (19 – 23 July)

Expert view on Nifty Futures for the next week ( 19 – 23 July )

Primary Trend of NSE Nifty index futures for next week: Positive

Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 16050 whereas All Down Moves Initiates Short Covering (Buy) @ 15900

Suppose Nifty share price in futures Moves Above 15956 and sustain. Then you should Buy Nifty futures with 1st Target of 15976 during the day or week with a Stop Loss of 15904 FOR the Target of 15976- 16012- 16052- 16095

Suppose Nifty share price in futures Moves Below 15904 and sustain. Then you should Sell with the 1st Target of 15875 during the day or week with a Stop Loss of 15956. FOR the Target of 15875- 15852- 15812 -15772

 

Expert view on Bank Nifty Futures for next week (19 – 23 July)

 

 

Primary Trend of Bank Nifty index future for the week: Positive 

Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 36250, whereas All Down Moves Initiates Short Covering (Buy) @ 35700

Suppose the Bank Nifty share price in the futures Moves Above 36040 and sustains. Then you should Buy Bank Nifty futures with the 1st Target of 36130 during the day or week with a Stop Loss of  35700. FOR the Target of 36130 – 36225- 36550- 36900

If Bank Nifty shares price in the future Moves Below 35700 and sustained. Then you should Sell with the 1st Target of 35615 during the day or week with a Stop Loss of 36040. FOR the Target of 35615- 35540- 35380 – 35210

 

FII & DIIs investment in Indian stock markets

 

Foreign Institutional Investors (FIIs) were sellers while Domestic Institutional investors (DIIs) were buyers in the cash market during the week ended 16 July. FIIs have sold Rs 2667.16 crore while DIIs have bought only Rs 3233 crore in the cash market segment during the week.

FIIs continuously selling in the cash market since April 2021. Even as the FIIs remained as the net sellers, the markets are getting support from domestic institutional investors (DIIs). So far in July, DIIs inflow in the equity market was 5136.45 crore and FIIs outflow was Rs 6923.61 crore. As far as DIIs are buying in the markets, we may not see any sharp fall due to FIIs selling.

 

Coronavirus risk & Vaccination

 

India on Saturday morning reported 38079 daily new Covid-19 cases with 560 new fatalities due to infections in the last 24 hrs, according to Union Health Ministry updates. The active Covid-19 cases are now 4.24 lakh in the country. Amidst fears of the third wave of Covid-19 in the country, PM Modi in a meeting with CMs said the state government must take all necessary precautions to avert the third wave in the country.

On the vaccination front, India has administered more than 41 crore Covid-19 vaccines so far. The Indian government has accelerated the vaccination program and taking necessary steps to avert the third wave of infections.

 

You can also read daily morning market updates before the markets open and expert views on Bank Nifty and Nifty futures in the evening on our website.

 

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Happy Investing!!

Editor’s Desk

 

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