Sensex and Nifty 50 share price closed flat, Bank Nifty declined 344 pts today

 

Indian markets opened in the green after following the positive global cues. The benchmark indices Sensex and Nifty 50 share price traded sideways throughout the day. The Bank Nifty was trading volatile ahead of the weekly expiry today. It erased all early gains after a few minutes of trading in the morning and closed lower.

The market sentiments remained subdued after the August IHS Markit Service PMI data released during the market today. It stood at 41.8 in August as compared to 34.2 in July. Though there is some improvement in a service activity in August, it continued to remain in a contraction zone. This is because the ongoing coronavirus pandemic restrictions continued to adversely impact client demand and business operations.

On the global front, Asian markets mostly closed in the red despite China’s Service activity expanded strongly in August. The European markets are trading higher ahead of services and retail sales data. The US Dow and Nasdaq futures are trading lower at this hour at 4 PM IST.

 

Sensex, Bank Nifty and Nifty 50 share price today on the spot levels

 

At the close, Nifty 50 share price was down by 7.55 points or 0.06% and at 11527.45 while Sensex declined by 95.09 points or 0.24% and at 38990.94. Bank Nifty traded negative bias today, it declined 343.70 points or 1.43% and closed at 23530.85.

The Nifty midcap and smallcap 100 indices have outshined the benchmark today. The Nifty midcap index gained 144.45 points or 0.85% and closed at 17214.15 levels. The smallcap index was down by 39.55 points or 0.69% and closed at 5745.50.

The top gainers in the Nifty 50 index for the day are Bharti Infratel, Grasim, Titan Company, UPL, and Wipro. The losers in the Nifty 50 index for the day are ICICI Bank, Bharti Airtel, Hindalco, Axis Bank, and Kotak Mahindra Bank. Vodafone idea, Reliance, and Tata Motors were the most active stocks in the Nifty 50 Index today.

On a sectoral basis, today IT & Services, Automobiles, Capital Goods, Healthcare, and Manufacturing sectors closed in the green. The sectors that closed in the red are Banking & Finance, Metal, Oil & Gas, Power, and Electricals.

 

Nifty 50 and Bank Nifty futures share price today

 

The Nifty futures opened at 11578.95, and it made a positive opening of 17.45 points today. It has touched an intraday high at 11594.70 and a day’s low at 11511

The Nifty futures has given a movement of 83.7 points. In the end, it declined 11.4 points or 0.10% and closed at 11550.10 levels.

The NSE banking index Bank Nifty futures opened at 23938.80. It made a positive opening of 17.85 points today. It has touched an intraday high at 24079.80 and a day’s low at 23452.95

During the day, the Bank Nifty futures has given a movement of 626.85 points. In the end, it declined by 341 points or 1.435 and closed at 23579.95 levels

 

Nifty 50 & Bank Nifty futures share price prediction for 4th Sept ( Sept Expiry)

NSE Nifty prediction in futures for 4th Sept 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11630 whereas All Down Moves Initiates Short Covering (Buy) @ 11500

If Nifty share price in futures Moves Above 11574 and sustain. Then you should Buy with 1st Target of 11592 during the day with a Stop Loss of 11526. FOR the Target of 11592- 11612- 11632

If Nifty share price in futures Moves Below 11526 and sustain. Then you should Sell with 1st Target of 11506 during the day with a Stop Loss of 11574. FOR the Target of 11506- 11485- 11462

NSE index Bank Nifty prediction in futures, 4th Sept  2020

Primary Trend of Bank Nifty Futures: Mild Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 23950, whereas All Down Moves Initiates Short  Covering (Buy) @ 23350

If the Bank Nifty share price in futures  Moves Above 23730 and sustain. Then you should Buy with 1st Target of 23820 during the day with a Stop Loss of  23350. FOR the Target of 23820 – 23950- 24140

If the Bank Nifty share price in futures Moves Below 23350 and sustained. Then you should Sell with 1st Target of 23215 during the day with a Stop Loss of 24100. FOR the Target of 23215 – 23080- 23000.

 

Conclusions:

Indian market opened in positive and traded sideways throughout the day, in the end, it closed flat to negative. The news of India’s PMI data fell consecutively for six months in a row dented the market sentiments in the afternoon. However, the downside remained capped as there is a gradual improvement in the August PMI data compared to July even it is a contractional zone.

Tomorrow the market will open as per the global market cues. The US weekly jobless claim data and Europe’s economic data are expected today.

 You may be interested to check out the latest charting platform for your strategy here. Traders can also follow our Daily Stock/Share Market live and NSE Nifty and Bank Nifty share price prediction in futures for 4th Sept.

 

You can also read, Best Stock Market Books to Make Money

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