Nifty Fifty [NIFTY 50] & Bank Nifty futures weekly prediction
Key factors that may impact the Nifty fifty and Bank Nifty futures share price
Nifty Fifty & Bank Nifty futures next week: After declining for two consecutive weeks, Indian markets bounced back the truncated week ended April 1. The benchmark indices, Nifty fifty and Sensex gained more than 2 percent during the week. The markets gained during the week with the support of strong global cues, positive auto sales numbers, and DIIs inflow. The markets got some support with the $2.25 trillion US infrastructure stimulus package announced last week, but the upside remained capped due to the rising US bond yields and surges in coronavirus cases in India.
The key factors that may impact the Nifty fifty and Bank Nifty futures share price for the next week are
Domestic events for next week
On the domestic front, RBI monetary policy would be the biggest event for the market in the next week. It is expected that the RBI will maintain the status quo and accommodative stance in its first bi-monthly policy for the FY2021-22. The other important economic data that are going to release next week are
| Economic Data Next Week | |
| 5 Apr 2021 | Markit Manufacturing PMI |
| 7 Apr 2021 | RBI Monetary Policy |
| 7 Apr 2021 | Markit Service PMI |
| 9 Apr 2021 | Foreign Exchange Reserve |
| 9 Apr 2021 | Deposit and Loan Growth |
Global market cues
The global markets cues were positive last week due to improved economic data in the US and China. The US Infrastructure package also helped the global markets to trade higher. In the coming week, traders need to closely watch out for the volatility of the US bond yields, surges in Coronavirus and its restrictions, and the announcement of the below economic data.
| Important Global Macro Data Next Week | ||
| 5 Apr 2021 | Jibun Bank Service/ Composite PMI | Japan |
| 5 Apr 2021 | Markit Service/ Composite PMI | US |
| 6 Apr 2021 | Caixin Service / Composite PMI | China |
| 7 Apr 2021 | Markit/CIPS Service/ Composite PMI | GB |
| 7 Apr 2021 | Balance of Trade | US |
| 7 Apr 2021 | FOMC Minutes | US |
| 8 Apr 2021 | Consumer Confidence/ Current account | Japan |
| 8 Apr 2021 | US Jobless Claim | US |
| 9 Apr 2021 | Inflation Rate | China |
Nifty fifty and Bank Nifty next week (5 April – 9 April)
Nifty fifty share price in futures prediction for the week ( 5 April – 9 April )
Primary Trend of Nifty fifty futures for next week: Positive
Range-Bound Trend of Nifty fifty futures: All up Moves Initiates Profit Booking (Sale) @ 15050 whereas All Down Moves Initiates Short Covering (Buy) @ 14850
Suppose Nifty fifty share price in futures Moves Above 14962 and sustain. Then you should Buy Nifty futures with 1st Target of 15018 during the day or week with a Stop Loss of 14885 FOR the Target of 15018-15052-15105- 15202
Suppose Nifty fifty share price in futures Moves Below 14885 and sustain. Then you should Sell with the 1st Target of 14848 during the day or week with a Stop Loss of 14962. FOR the Target of 14848- 14810- 14750 -14685
Bank Nifty futures prediction for next week ( 5 April – 9 April )
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) @ 34800, whereas All Down Moves Initiates Short Covering (Buy) @ 33750
Suppose Bank Nifty share price in the futures Moves Above 34300 and sustain. Then you should Buy Bank Nifty futures with the 1st Target of 34475 during the day with a Stop Loss of 33930. FOR the Target of 34475 – 34635- 34790- 35220
If Bank Nifty shares price in the future Moves Below 33930 and sustained. Then you should Sell with the 1st Target of 33775 during the day with a Stop Loss of 34300. FOR the Target of 33775- 33650- 33370 – 33080
FII & DIIs investment in Indian stock markets
Foreign Institutional Investors (FIIs) were the seller and Domestic Institutional Investors (DIIs) were the buyer in the cash market segment last week. On the last day of the week, 1 April, FIIs were the buyers whereas DIIs were the seller in the cash market.
In FY2020-21, FIIs invested more than $37 billion in the Indian equity market. This is the highest FIIs investment in the last two decades as per NSDL data. Traders should watch out closely the FIIs/DIIs investment to know the market trend.
Coronavirus risk & Vaccination
India is now witnessing the second wave of coronavirus infections. India reported more than 93000 fresh cases in the last 24 hrs on Saturday. This is the highest case recorded since 18 September 2020. More than fifty percent of cases are recorded in Maharastra followed by Karnataka, Chhattisgarh, Delhi, Tamil Nadu, UP, Punjab, and MP.
Due to the resurgence of coronavirus cases, several state governments have imposed restrictions like night curfew, half lockdown, weekend lockdown, gatherings, ban on hotels, and malls, etc. Market experts feel this could impact the economy a bit in the coming months. On the vaccination front, India has so far administered over 7 cr coronavirus vaccine doses.
On the global front, some European countries have reported surges in coronavirus cases. France has recently imposed a nationwide lockdown. Brazil, Japan have also witnessed surges in coronavirus cases.
You can also read daily morning market updates before the markets get open and Nifty fifty and Bank Nifty futures levels on daily basis.
You may also like to read, What is SGX Nifty? Can Indian trade in SGX Nifty?
Nifty Top Gainers and Losers-Weekly market updates
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.
