Nifty | Bank Nifty Futures Prediction for Tomorrow 11 May
Nifty and Bank Nifty futures prediction for tomorrow 11 May 2021: Indian stock market made a gap-up opening on Monday following a firm trend in global peers and positive forex and export data during the weekend. Markets traded higher with the support of heavy buying in metals, healthcare, and auto sectors. In the end, the market gained over half a percent and closed in the positive territory.
A fall in daily coronavirus cases aided the market sentiments today. With 3,66,499 fresh Covid-19 infections in the last 24hrs, India recorded a significant drop in the number of daily cases. The market sentiment got boosted after Union Health Ministry said more than 72 lakh Covid-19 vaccine doses are still available with states and union territories. More than 46 lakh doses will be received by them in the coming three days.
Today’s Market Updates- Nifty, Sensex, and Bank Nifty on the spot price
At the close, Nifty gained 119.20 points or 0.81 percent and closed at 14942.35 levels while Sensex was up by 295.94 points or 0.61 percent and finished at 49502.41 levels. The Bank Nifty on the spot price closed higher by 237.90 points or 0.73 percent and ended at 33142.40 levels.
The midcap and smallcap indexes closed higher today. The Nifty midcap index was up by 231.15 points or 0.94 percent and closed at 24776.80 levels. The Nifty Nifty smallcap index outshine the key indices today. It gained 133.40 points or 1.53 percent and ended at 8870.60 levels.
The top five gainers in the Nifty 50 index were Coal India, UPL, Hindalco, IOC, and Tata Motors. The top losers in the Nifty 50 index were Shree Cement, Britannia, Ultratech Cement, Infosys, and Hero Motor Corp. The most active stocks in the Nifty 50 index were Tata Steel, Hindalco, and Tata Motors.
On a sectoral front, Metals, Healthcare, Capital Goods, real Estate, and Automobile sectors gained the most in today’s trading session. Construction Materials, Consumer Durables sectors lower today.
Nifty and Bank Nifty futures price movement for 10 May ( May Expiry)
The Nifty futures price opened at 14968.25 made a positive opening of 98.7 points. It has touched an intraday high at 15023.35 and a day’s low at 14939.05
The Nifty futures price has given a movement of 84.3 points today. In the end, it gained 122.45 points or 0.82 percent and ended at 14992 levels.
The Bank Nifty futures price opened at 33250 It made a positive opening of 211.6 points today. It has touched an intraday high at 33500 and a day’s low at 33165
During the day, the Bank Nifty futures price has given a movement of 335 points. In the end, it closed higher by 304.95 points or 0.92 percent and closed at 33343.35 levels.
Nifty and Bank Nifty futures prediction for tomorrow 11 May (May Expiry)
Nifty futures prediction for tomorrow 11 May
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15050 whereas All Down Moves Initiates Short Covering (Buy) @ 14930
If the Nifty futures share price Moves Above 15028 and sustain. Then you should Buy with 1st Target of 15050 during the day with a Stop Loss of 14966 FOR the Target of 15050-15074- 15110
If the Nifty futures share price Moves Below 14966 and sustain. Then you should Sell with the 1st Target of 14932 during the day with a Stop Loss of 15028. FOR the Target of 14932- 14902 -14870
Bank Nifty futures prediction for tomorrow 11 May
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33500, whereas All Down Moves Initiates Short Covering (Buy) @ 33280
Suppose Bank nifty share price in futures Moves Above 33430 and sustain, then you should Buy with the 1st Target of 33510 during the day with a Stop Loss of 33250. FOR the Target of 33510 – 33590 – 33670
If Bank nifty share price in the futures Moves Below 33250 and sustained, then you should Sell with the 1st Target of 33165 during the day with a Stop Loss of 33430. FOR the Target of 33165 – 33078 – 33000
Global markets today
On the global front, Asian markets opened higher today morning following the positive cues from Wall Street on Friday. In the end, markets were closed mixed as traders were worried about the surging commodity price and weaker than expected monthly US job data and fears about higher inflation, interest rates, and cutback in the stimulus. European and US futures Indexes are trading mixed at this moment ( at 4.30 pm IST).
Conclusions
Indian markets started the week on positive notes. The markets moved at a narrow range today. Healthy buying was seen in broader markets, as Nifty midcap and smallcap closed higher today. Almost all sectoral indices closed in the green, metals, pharma, auto sectors gained the most and supported the key indices today.
Going ahead, markets trend are positive, Nifty needs to close above 15050 for the further northward journey. You can also follow our Daily Morning Report and Expert view on Nifty and Bank Nifty futures prediction for tomorrow 11 May.
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