Indian stock markets | Nifty, Bank Nifty for next week
Key factors that may drive the Indian Stock Markets next week
Indian stock markets gained half a percent during the week ended 15 January. The market erased most of its weekly gains on the last day of the week. The midcap and smallcap index closed lower on a weekly basis. The weak global cues and profit booking in IT stocks have dragged down the market even after the announcement of the $ 1.9 trillion US stimulus package, strong FIIs inflow, and better than expected Q3 earnings.
HDFC Bank has announced its December end quarterly results on Saturday 16 January. The market will first react to the HDFC Bank Q3 earnings on Monday. The other key factors that will impact the Indian stock markets next week are as follows:
Quarterly earnings: Nifty 50 Companies
Last week the heavyweight IT companies have announced their Q3FY21 results. We have seen profit booking in IT stocks immediately after the announcement of their Q3 results. In the coming week, there are a total of eight Nifty 50 companies that will announce their quarterly earnings.
The country’s largest private sector company Reliance Industries will announce its 3rd quarterly earnings on 22nd January Friday. The other Nifty 50 companies that will announce their Q3 earnings next were are
| Q3 Results dates for Nifty50 Stocks | |
| 20 Jan | Bajaj Finserve |
| Bajaj Finance | |
| 21 Jan | Asian Paints |
| Bajaj Auto | |
| 22 Jan | HDFC Life |
| JSW Steel | |
| Reliance | |
| SBI Life | |
Coronavirus risk & Vaccination
In India, the new coronavirus cases registered in the last 24 hours was 15144. There are a total of 2.9 lakh active coronavirus cases in India at present. The coronavirus cases in India are in a declining stage but in the U.S and Europe, it’s still rising. The recent lockdown imposed in two Chinese cities has created market volatility in the mid of the last week.
The coronavirus vaccine drive has started in India on 16 January. Two vaccines have been granted emergency use approval in India and both are made in India. Covishield developed by Oxford University and Astra Zeneca and produced by the Serum Institute of India (SII) and the second one COVAXIN, developed and produced in India by Bharat Biotech. Indian markets will closely watch the progress of the vaccination drive in India.
Nifty and Bank Nifty share price target in futures for the week (18- 22 Jan)
Nifty share price target in futures for the week ( 18-22 Jan)
Primary Trend of Nifty futures for the week: Positive
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 14600 whereas All Down Moves Initiates Short Covering (Buy) @ 14280
If Nifty share price in futures Moves Above 14512 and sustain. Then you should Buy with 1st Target of 14548 during the day or week with a Stop Loss of 14417 FOR the Target of 14548- 14595- 14650- 14680
Suppose Nifty share price in futures Moves Below 14417 and sustain. Then you should Sell with the 1st Target of 14375 during the day or week with a Stop Loss of 14512. FOR the Target of 14375- 14348- 14280-14240
Bank Nifty share price target in futures for the week ( 18-22 Jan)
Primary Trend of Bank Nifty future for the week: Positive
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 32850, whereas All Down Moves Initiates Short Covering (Buy) @ 31800
If Bank Nifty share price in the futures Moves Above 32432 and sustain. Then you should Buy with the 1st Target of 32470 during the day with a Stop Loss of 32210. FOR the Target of 32470 – 32580- 32715- 32850
If Bank Nifty shares price in the future Moves Below 32210 and sustained. Then you should Sell with the 1st Target of 32076 during the day with a Stop Loss of 32432. FOR the Target of 32076- 31950- 31830 – 31595
Global market cues
Indian stock markets fell on Friday on 15 January due to weak global market cues. Global cues play a vital role to derive the domestic markets. In the last week, the incoming U.S President Joe Biden had announced a $1.9 trillion stimulus plan. Investors will closely watch the oath-taking ceremony of Joe Biden as a U.S President on 20 January and his further plan for developing the US economy.
The important global macroeconomic data that are going announce in the coming week are
| Important Global Macro Data Next Week | ||
| 18 Jan 2021 | GDP Growth Q4 | China |
| Industrial Production | Japan | |
| 20 Jan 2021 | Loan Prime Rate | China |
| Inflation Rate | GB | |
| PPI Core Output | GB | |
| 21 Jan 2021 | BOJ Interest Decision | Japan |
| 22 Jan 2021 | Inflation Rate | Japan |
| Jibun Bank Manufacturing PMI | Japan | |
| Markit Manufacturing /Service PMI | GB | |
| Markit Manufacturing /Service PMI | US | |
FII & DIIs investment in Indian stock markets
FIIs were the buyers and DIIs were the seller in the cash market segment during the week ended 15 January. FIIs bought Rs 7637.11 crores while DIIs sold Rs 7444.97 crore in the cash market segment.
The continued buying interest by FIIs in the cash market is because of abundant liquidity, progress on the vaccine front, signs of economic recovery, and expectation of stimulus packages announced by the developed countries according to market experts. As long as the FIIs buying in the cash market Indian stock markets will continue their northward journey.
You may also like to read, Intraday Trading books to make money from Stock Markets
Two Nifty 50 Stock Recommendations for next week
Happy Investing!!
Editor’s Desk
Disclaimer-
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