Nifty, Bank Nifty Futures Strategy for F&O Expiry 31 Dec
Nifty and Bank Nifty futures strategy for the F&O expiry 31 Dec 2020
Nifty and Bank Nifty futures for 31 Dec: Indian stock markets opened positive as indicated by the global cues but could not sustain at higher levels. Profit booking in Banking and Financial and Healthcare sectors seen in the morning. The markets remain volatile throughout the day in a narrow range. In the end, the benchmark indices closed in the positive zone.
The market sentiments remind subdued with the RBI’s report stated that the profitability of NBFCs may be “dampened” going ahead due to the loan impairment and lower credit demand. It also said that many NBFCs have made additional provisioning as per expected credit loss (ECL) norms, and bolstered their capital position by plowing back dividends.
However, the losses remain capped on the lower side as some support came from Former RBI governor Subba Rao’s statement. Rao said though Covid-19 and the subsequent lockdown left a trail of economic devastation on most countries, India can potentially build upon three positive aspects- push in the rural economy, strong federalism, and a huge consumer base.
On the global front, Asian markets were mostly closed in the green today, as the start of coronavirus vaccine drives in several countries and the passage of U.S stimulus aid raised hopes for a global economic recovery in the next financial year. The European markets are trading absolutely fat at 4 pm today. The US future indices are trading marginally higher.
Indian Market today: Nifty, Sensex, and Bank Nifty
At the close, Nifty gained 49.35 points or 0.36% and at 13981.95 while Sensex up 133.14 points or 0.28% and at 47746.22 level. The Bank Nifty on the spot levels closed marginally down by 19.45 points or 0.06% and ended at 21303.05 level.
The Nifty midcap and smallcap 100 indices also closed higher today. The midcap index gained 46 points or 0.22% and at the 20741.70 level. The smallcap index also gained 49.10 points or 0.70% and closed at the 7066.15 level.
The top five gainers in the Nifty 50 index for the day were Ultratech Cement, Shree Cement, Grasim, UPL, and Bajaj Finance. On the losing side, the top five losers for the day in the Nifty 50 index were IndusInd Bank, Sun Pharma, Axis Bank, Bharti Airtel, and TCS. The most active stocks for the day were Bajaj Finance, Reliance and HDFC Bank.
On a sectoral basis, Automobiles, Consumer Durables, Metals, FMCG and Financial sectors closed in the green. On the other hand, IT & Software, telecom, Manufacturing. Media, and Aviation sectors closed in the red today.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 13979, it made a positive opening of 43.95 points. It has touched an intraday high at 13985.05 and a day’s low at 13870.95
The Nifty futures share price has given a movement of 114.10 points. In the end, it gained 42.95 points or 0.31% and closed at 13978 levels.
The Bank Nifty futures share price opened at 31489 It made a positive opening of 128.9 points today. It has touched an intraday high at 31549.45 and a day’s low at 31030
During the day, the Bank Nifty futures share price has given a movement of 519.45 points. In the end, it closed lower by 70.1 points or 0.22% and closed at 31290 levels.
Nifty and Bank Nifty futures for F&O expiry day 31 Dec ( Dec Expiry)
Nifty futures prediction for F&O expiry 31 Dec 2020
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14040 whereas All Down Moves Initiates Short Covering (Buy) @ 13950
If the Nifty futures share price Moves Above 13990 and sustain. Then you should Buy with 1st Target of 14018 during the day with a Stop Loss of 13940 FOR the Target of 14018-14038- 14058
If the Nifty futures share price Moves Below 13940 and sustain. Then you should Sell with the 1st Target of 13920 during the day with a Stop Loss of 13990. FOR the Target of 13920- 13900 -13870
Bank Nifty futures prediction for F&O expiry, 31 Dec 2020
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31650, whereas All Down Moves Initiates Short Covering (Buy) @ 31200
Suppose Bank Nifty futures share price Moves Above 31425 and sustain. Then you should Buy with the 1st Target of 31550 during the day with a Stop Loss of 31160. FOR the Target of 31550 – 31680- 31820
If the Bank Nifty futures share price Moves Below 31160 and sustained. Then you should Sell with the 1st Target of 31030 during the day with a Stop Loss of 31425. FOR the Target of 31030 – 30900- 30770
Conclusions:
Indian stock market closed higher as investors are expecting coronavirus vaccine to roll out in the country soon. The market sentiments got a boost after the UK government has given approval for the 2nd Coronavirus vaccine Asta Zeneca for emergency use today.
Indian markets may see some volatility tomorrow due to the monthly F&O expiry. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 31 Dec. 2020.
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Nifty, Banknifty share price target for (28 Dec to 1 Jan 21
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