Nifty and Bank Nifty levels for the next week [15-19 March]
Key factors that may set the direction of Nifty & Bank Nifty levels next week ( 15-19 March)
Nifty & Bank Nifty Levels (15-19 March): Indian stock markets closed marginally higher on 12 March ended week. The Nifty midcap index also closed higher but smallcap index outperform key indices. Sensex and Nifty managed to close above their crucial levels 50700 and 15K during the truncated week with the support of global peers.
The key factors that may impact the Nifty & Bank Nifty levels next week ( 15-19 March)
Global market cues
The global markets were positive during the week. The US markets closed higher amid fluctuating bond yields. A new low of jobless claim data, progress in the fight with coronavirus, and the signing of a USD $1.9 trillion stimulus package by President Biden created positive sentiments in the US markets last week.
The European markets also gained on a weekly basis tracking the Wall Street. The lower eurozone government bond yields, ECB’s new GDP forecast at 4% in 2021 helped the European markets to close higher. Whereas the higher side of the European markets remained capped due to rises in coronavirus cases in some countries and a setback in coronavirus vaccine due to side effect. In other Asian markets, the Japanese index gained last week whereas the Chinese index fell on a weekly basis.
Next week’s FOMC meeting outcome would be important to set the direction of the domestic market. The other important global economic data that may impact the domestic market are
| Important Global Markets Macro Data Next Week | ||
| 15 Mar 2021 | Industrial Production | China |
| 15 Mar 2021 | Retail Sales YoY/ Unemployment rate | China |
| 16 Mar 2021 | Industrial Production | Japan |
| 16 Mar 2021 | Industrial Production/ Retail Sales | US |
| 16 Mar 2021 | Export/ Import Data | US |
| 17 Mar 2021 | Balance of trade- Exp/Imp | Japan |
| 17 Mar 2021 | FOMC meeting output | US |
| 18 Mar 2021 | BOE Interest rate decision | GB |
| 18 Mar 2021 | US jobless claim | US |
| 19 Mar 2021 | BOJ interest rate decision/ Inflation rate | Japan |
| 19 Mar 2021 | Gfk Consumer Confidence | GB |
Domestic economic data
On Monday, the market will first react to India’s Index of Industrial Production (IIP) data contracted to 1.6% in January and CPI inflation data that rises to 5.03% in the month of February. The IIP data contracted unexpectedly in January while CPI data accelerated more than expected in February. The economic data that are expected in the next week are
| Economic Data Next Week | |
| 15 Mar 2021 | WPI Inflation data |
| 15 Mar 2021 | Export /Import Data |
| 19 Mar 2021 | Foreign Exchange Reserve |
Nifty and Bank Nifty levels for the next week (15- 19 March)
Nifty futures prediction for the week ( 15-19 March)
Primary Trend of Nifty futures for the week: Negative
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 15130 whereas All Down Moves Initiates Short Covering (Buy) @ 14900
Suppose Nifty share price in futures Moves Above 15098 and sustain. Then you should Buy Nifty futures with 1st Target of 15136 during the day or week with a Stop Loss of 14985 FOR the Target of 15136-15160-15205- 15250
Suppose Nifty share price in futures Moves Below 14985 and sustain. Then you should Sell with the 1st Target of 14940 during the day or week with a Stop Loss of 15098. FOR the Target of 14940- 14902- 14872-14791
Bank Nifty futures prediction for the week ( 15- 19 March)
Primary Trend of Bank Nifty future for the week: Negative
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 35900, whereas All Down Moves Initiates Short Covering (Buy) @ 34800
Suppose Bank Nifty share price in the futures Moves Above 35650 and sustain. Then you should Buy Bank Nifty futures with the 1st Target of 35918 during the day with a Stop Loss of 35130. FOR the Target of 35918 – 36190- 36560- 36730
If Bank Nifty shares price in the future Moves Below 35130 and sustained. Then you should Sell with the 1st Target of 34990 during the day with a Stop Loss of 35650. FOR the Target of 34990- 34920- 34660 – 34390
FII & DIIs investment in Indian stock markets
On a weekly basis, Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) both were buyers in the cash market. FIIs bought Rs 349.09 cr while DIIs bought Rs 2017.64 crores in the cash market. Last Friday, both FIIs and DIIs were the seller in the cash market segment.
The bond yield rises mean inflation is rising, indirectly it means that the US economy is growing. When the US economy is started growing, naturally US investors will like to invest in their own country. Hence, US investors may book profit in Indian markets and pull out the money invested. Investors need to cautious on this front and closely monitor FIIs investment in the cash market.
Coronavirus risk & Vaccination
Since last month, India has seen a spike in new coronavirus cases, where more than 50 percent of new cases are coming from Maharashtra. India reported 24882 fresh coronavirus cases on Friday pushing the overall tally to 11,333,728. The death toll from the deadly infection jumped to 158,483. Brazil has replaced India as the second most affected country in the global tally. The US remains the worst-hit country with 29,992,422, followed by Brazil, India, Russia, and the UK.
Meanwhile, the Union Health Ministry said that more than 20 lakh vaccine doses against the coronavirus were administered in PAN India on Friday, the highest single-day count so far. So far India vaccinated the first dose of Coronavirus to 2.14 crores till 12 March 2021 which is just 1.58% of the total population. Full vaccination (both doses) has been given to 47.29 lakh people.
Investors need to closely monitor the recent spike in India, particularly in Maharashtra. An increase in coronavirus cases in India can further impose lockdown and more restrictions and this may create negative sentiments in the markets.
You can also read daily morning market updates before the markets get open and Nifty and Bank Nifty levels on daily basis.
You may also like to read, Intraday Trading books to make money from Stock Markets
Your Stock Broker will never say these Hidden Charges.
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 only for educational purposes. 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 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.
