Nifty and Bank Nifty futures prediction for 14 Jan 2021
Indian markets closed flat today, Nifty & Bank Nifty futures prediction for 14 Jan
Nifty and Bank Nifty futures prediction for 14 Jan: Indian stock markets made a positive start on Wednesday tracking Asian peers. The market reacted positively to the report of easing inflation for the month of December. Buying in Telecom and Banking counter supported the domestic markets today. In the end, the benchmark indices erased their early gains and closed almost flat today.
The market sentiments got boosted with the government’s CPI-based inflation data eased to 4.59% in December 2020 compared to 6.93% in November. The major decline in CPI is due to the fall in food prices, it declined to 3.4% in December as compared to 9.5% recorded in the previous month. Some support in the market was seen due to a mega immunization drive against the coronavirus has kicked off with nine flights transporting over 6.6 million doses of the vaccine to 13 cities across the country on Tuesday.
However, the profit booking was seen in the second half due to the concerns about the government’s data showing that the Index of Industrial Production (IIP) contracted by 1.9% in November as compared to 3.6% growth in October.
On the global front, the Asian markets were closed mostly in the green today tracking the modest gains overnight on U.S markets amid optimism about additional U.S fiscal stimulus. The European stock markets are trading slightly higher on Wednesday. The U.S Dow and Nasdaq futures are also trading marginally higher at 4 pm IST.
Today’s market- Sensex, Nifty, and Bank Nifty
At the close, markets closed almost flat today, Nifty gained only 1.40 points or 0.01% and at 14564.85 level while Sensex declined 24.79 points or 0.05% and at 49492.32 level. The Bank Nifty was trading volatile today closed higher by 235.65 points or 0.73% and ended at 32574.65.
The Nifty midcap and smallcap indices closed in the red today. The midcap index declined 133.90 points or 0.60% and closed at 22155.25 levels. The smallcap index was down 13.25 points and closed at the 7433.75 level.
The top five gainers in the Nifty 50 index for the day were M&M, Adani Ports, SBI, IOC, and NTPC. The top five losers in the Nifty 50 index were HDFC, Bajaj Finance, Shree Cement, UPL, and Bajaj Finserv. The most active stocks for the day in NSE were Bharti Airtel, Tata Motors, and SBI
On a sectoral front, Telecom, Automobiles, PSU Banking, Infrastructure, and Hospitality sectors closed in the green today. The sectors that closed in the red were Financials, Insurance, Healthcare, Chemical, and Retail.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 14653.85, it made a positive opening of 55.9 points. It has touched an intraday high at 14660 and a day’s low at 14476
The Nifty futures share price has given a movement of 184 points. In the end, it declined just 6.9 points or 0.05% and closed at 14591.15 levels.
The Bank Nifty futures share price opened at 32603 It made a positive opening of 147.95 points today. It has touched an intraday high at 32758.15 and a day’s low at 32251.85
During the day, the Bank Nifty futures share price has given a movement of 506.3 points. In the end, it gained 194.1 points or 0.60% and closed at 32649.15 levels.
Nifty and Bank Nifty futures prediction for 14 Jan ( Jan Expiry)
Nifty futures prediction for 14 Jan 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14710 whereas All Down Moves Initiates Short Covering (Buy) @ 14540
If the Nifty futures share price Moves Above 14630 and sustain. Then you should Buy with 1st Target of 14665 during the day with a Stop Loss of 14572 FOR the Target of 14665-14695- 14718
If the Nifty futures share price Moves Below 14572 and sustain. Then you should Sell with the 1st Target of 14537 during the day with a Stop Loss of 14630. FOR the Target of 14537- 14500 -14440
Bank Nifty futures prediction, 14 Jan 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32950, whereas All Down Moves Initiates Short Covering (Buy) @ 32350
Suppose Bank Nifty futures share price Moves Above 32730 and sustain. Then you should Buy with the 1st Target of 32845 during the day with a Stop Loss of 32540. FOR the Target of 32845 – 32956- 33060
If the Bank Nifty futures share price Moves Below 32540 and sustained. Then you should Sell with the 1st Target of 32435 during the day with a Stop Loss of 32730. FOR the Target of 32435 – 32348- 32197
Conclusions:
Indian markets have seen profit booking today at a higher level. The markets traded volatile today and closed almost flat in the end. The IT sector will remain focus tomorrow due to better than expected results from Infosys that came after the market today. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 14 Jan 2021.
Also read, Top 3 Stock Picks for the next week (11-15 January 2021)
Intraday Trading books to make money from Stock Markets
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