Indian markets closed flat today, Nifty and Bank Nifty futures prediction for 21 Oct

 

Nifty & Bank Nifty futures prediction for 21 Oct: Indian market opened in the red today amid negative global cues. The market recovered immediately and traded positively most of the day and later closed in the green. Healthy buying was seen in blue-chip stocks today like HCL Tech, Bharti Airtel, Larsen & Turbo. At close, there were a total of 26 stocks in advance and 24 stocks were in decline in the Nifty 50 index.

The market sentiments were positive as market regulator SEBI allowed exchanges dealing with agri-commodity derivatives to utilize the fund created for farmers and FPOs for reimbursement of mandi tax and charges incurred by them on storage and transportation of goods. The decision was taken based on the recommendations of the commodity derivatives Advisory Committee (CDAC)

On the global front, Asian markets are mostly closed in the red today as the investors went cautious with the talks of a last-ditch effort to strike a deal by US lawmakers on a fresh round of fiscal stimulus before the November election. The European markets are trading flat at this moment whereas the US Dow and Nasdaq futures are trading higher.

 

The market today: Nifty, Bank Nifty, and Sensex

 

At the close, Nifty gained 23.75 points or 0.21% and at 11896.80 levels while Sensex up 112.77 points or 0.28% and at 40544.37 levels. The Bank Nifty on the spot levels gained 45.05 points or 0.19% and closed at 24311.80 levels.

Nifty midcap and smallcap 100 indices also close in the green today. The midcap index gained 107.40 points or 0.63% and at 17023.25. The Nifty smallcap index closed higher by 22.30 points or 0.38% and at 5904.35 levels.

The top five gainers in the Nifty 50 index are HCL Tech, Tech Mahindra, Asian Paints, Bharti Airtel, and HDFC Bank. The top five losers in the Nifty50 index are Britannia, ONGC, IOC, GAIL, and UPL. The most active stocks for the day in NSE were HCL Tech, Reliance, and HDFC Bank.

On a sectoral basis, IT & Software, Infrastructure, Telecom, Real Estate, and Media sectors gained today. On the losing side, Oil & Gas, Logistic, Insurance, FMCG, and Electricals sectors closed in the red today.

 

Nifty & Bank Nifty futures price today

 

Te Nifty futures share price opened at 11855.40, it made a negative opening of 34 points. It has touched an intraday high at 11945 and a day’s low at 11831.05

The Nifty futures share price has given a movement of 113.95 points. In the end, it gained 5.90 points and closed almost flat at 11895.30 levels.

The Bank Nifty futures share price opened at 24165 It was made a gap down opening of 181.70 points today. It has touched an intraday high at 24460.55 and a day’s low at 24086.35

During the day, the Bank Nifty futures share price has given a movement of 374.2 points. In the end, it closed higher by 0.80  points and closed flat at 24347.50 levels.

 

Nifty and Bank Nifty futures prediction for 21 Oct ( Oct Expiry)

 

 

Nifty futures prediction for 21 Oct 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 12000 whereas All Down Moves Initiates Short Covering (Buy) @ 11830

If the Nifty futures share price Moves Above 11922 and sustain. Then you should Buy with 1st Target of 11949 during the day with a Stop Loss of 11872. FOR the Target of 11949- 11976- 12004

If the Nifty futures share price  Moves Below 11872 and sustain. Then you should Sell with 1st Target of 11836 during the day with a Stop Loss of 11922. FOR the Target of 11836- 11808 -11780

 

 

Bank Nifty futures prediction, 21 Oct  2020

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 24650, whereas All Down Moves Initiates Short  Covering (Buy) @ 24200

If Bank Nifty futures share price Moves Above 24430 and sustain. Then you should Buy with 1st Target of 24509 during the day with a Stop Loss of  24280. FOR the Target of 24509 – 24590- 24670

If the Bank Nifty futures share price Moves Below 24280 and sustained. Then you should Sell with 1st Target of 24136 during the day with a Stop Loss of 24430. FOR the Target of 24136 – 24020- 23925

 

Conclusions:

Indian markets were trading range-bound today and later closed marginally higher. Markets are tracking the global peers and indications getting from the global markets are mixed. Traders need to closely follow the global market to know the market trend. Better than expected Q2 earnings can also change the market mood. At present, the market trend is positive, and Nifty is expected to retest 12000 levels.

Traders can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 21 Oct.2020

 

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