Nifty 50 shares closed above 10,300 levels, Bank Nifty share price down around 1%

 

Nifty 50 shares & Bank Nifty share price target: Indian share market opened in the negative note as indicated by the Asian markets. The markets were trading range-bound after a gap down opening in the morning. The Bank Nifty recovered almost 2% from the day’s low in the last hour before closing.

The sentiments in the banking and financial sectors got improved with the news that RBI has decided to enhanced borrowings facilities provided to the banks from 2% to 3%. This is under the marginal standing facility (MSF) to meet the liquidity shortage until 30th September. 

On the global front today, the Asian markets were closed in the red. The Asian markets got hit after the retail sales of Japan were down by -12.3% YoY in May, below expectation of -11.% in YoY. The European markets are trading marginally higher today, in the US market Dow features are also trading in the green.

 

Indian share market on spot level: Nifty 50, Sensex and Bank Nifty

At close, Nifty 50 share price was down by 70.60 points or 0.67% and at 10312.40 while Sensex was declined by 209.75 points or 0.59% and closed at 34961.52. The Bank Nifty was also closed in the negative at 21359 levels, down by 233.05 points or 1.07%.

The Nifty midcap and smallcap 100 indices were also down today. The Nifty midcap was down by 240.05 points or 1.60% and the smallcap index was declined by 65.20 points or 1.38% today.

The top five gainers in the Nifty 50 index are HDFC Bank, Britannia, Cipla, HUL, and M&M. The losers in the Nifty 50 index for today are Coal India, Axis Bank, Hindalco, Tech Mahindra, and SBI. The Coal India was down more than 5% reacted negatively due to the poor Q4 results announced aftermarket on Friday.

On a sectoral basis, FMCG, Manufacturing, Telecom, Textile, and Paper sectors are the gainers. Whereas the Real Estate, Metals & Mining, Infrastructure, Automobiles, and Banking & Finance were down 1-3% today

 

Nifty 50 and Bank Nifty share price in futures today:

The Nifty 50 share price in futures opened today at 10241.90, it was made a negative opening of 76.10 points today. It has touched an intraday high at 10282.30 and a day’s low at 10156.30

During the day Nifty 50 share price in futures has given a movement of 126 points. In the end, it was down by 56.05 points and closed flat at 10261.95 levels

The Bank Nifty share price in futures opened in 21251, it was made a negative opening of 211.15 points today. It has touched an intraday high at 21325.90 and a day’s low at 20886.30

During the day the Bank Nifty share price in futures has given a movement of 439.60 points. In the end, it declined by 212.2 points or 0.99% and closed at 21249.95

 

Nifty & Bank Nifty Futures Technical Levels for 30th June (July Expiry)

 

Nifty50 share in Futures for 30th June 2020

Primary Nifty Trend in futures: Mild Negative

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 10340 whereas All Down Moves Initiates Short Covering (Buy) @ 10100

If Nifty 50 share price in futures Moves Above 10284 and sustain. Then you should Buy with 1st Target of 10310 during the day with a Stop Loss of 10205. FOR the Target of 10310- 10335- 10360

If Nifty 50 share price in futures Moves Below 10205 and sustain. Then you should Sell with 1st Target of 10184 during the day with a Stop Loss of 10284. FOR the Target of 10184- 10146- 10107

 

Bank Nifty futures share price target for 30th June  2020

Primary Trend of Bank nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21500, whereas All Down Moves Initiates Short  Covering (Buy) @ 20850

If Bank Nifty share price in futures  Moves Above 21350 and sustain. Then you should Buy with 1st Target of 21420 during the day with a Stop Loss of  21140. FOR the Target of 21420 – 21510- 21650

If Bank Nifty share price in futures Moves Below 21140 and sustained. Then you should Sell with 1st Target of 21060 during the day with a Stop Loss of 21350. FOR the Target of 21060 – 20970- 20850

 

Conclusions:

Indian market opened in a negative note and was trading in a range-bound most the day. Later in the last hour got some positive momentum and Nifty 50 share closed above 10,300 levels on the spot levels. Indian market is trading  on the global cues in the absence of any trigger in the domestic market.

The Nifty may trade in range-bound for a day or two. Traders can follow the SGX Nifty for global cues and our Nifty 50 share and Bank Nifty share price target in futures for 30th June

You can also read, Nifty50 Stocks list | Index | Share price  

                            Stock/Share Market News Live: Nifty & Bank Nifty futures   

                             Weekly Market Update: Nifty & Bank Nifty share price                         

 

If you like the post please share with your friends and others

Happy Investing!

Editor’s Desk

 

Disclaimer-Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.