Nifty & Bank Nifty futures price prediction for 13 April
Nifty & Bank Nifty futures price prediction for tomorrow: Indian stock markets opened a gap down today due to the concerns about rising coronavirus cases and weak global cues. The benchmark indices, Sensex and Nifty traded below their psychological levels on the back of selling all sectors today. In the end, the markets closed more than 3 percent today.
The market sentiments were negative due to the concerns about rising coronavirus cases in the country and fears of lockdown in certain states. Indian markets remain under pressure as foreign portfolio investors (FPI) have withdrawn a net of Rs 929 crores from the Indian markets so far this month amid concerns over rising coronavirus cases denting the economic recovery.
Today’s Market: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 524.05 points or 3.53 percent and closed at 14310.80 levels while Sensex plunged 1707.94 points or 3.44 percent and finished at 47883.38. The Bank Nifty on the spot price was down by 1656.05 points or 5.10 percent and ended at 30792 levels.
Heavy selling pressure was witnessed in the midcap and smallcap stocks. The Nifty midcap index was declined by 1391.55 points or 5.68 percent and closed at 23114.15 levels. The Nifty smallcap index was down by 474.95 points or 5.55 percent and ended at 8084.15 levels.
The top gainers in the Nifty 50 index were Dr. Reddy Lab, Divis Lab, Cipla, and Britannia. The top losers in the Nifty 50 index were Tata Motors, Adani Ports, IndusInd Bank, Bajaj Finance, and IndusInd Bank. The most active stocks in the Nifty 50 index were Tata Motors, Infosys, Cipla, SBI, and Adani Ports.
On a sectoral basis, all sectors closed in the red today. Heavy selling witnessed in the Real Estate, Automobiles, Banking, Financials, and Industrials sectors. These sectors fell between 5-7 percent today due to fears of lockdown and restrictions.
Nifty and Bank Nifty futures price movement today, 12 April 2021
The Nifty futures price opened at 14689.70 made a negative opening of 199.70 points. It has touched an intraday high at 14689.70 and a day’s low at 14282
The Nifty futures price has given a movement of 407.7 points. In the end, it fell 524.9 points or 3.53 percent and ended at 14364.50 levels.
The Bank Nifty futures price opened at 31821. It made a gap down opening of 796.55 points today. It has touched an intraday high at 31900 and a day’s low at 30610
During the day, the Bank Nifty futures price has given a movement of 1290 points. In the end, it closed lower by 1662.65 points or 5.10 percent and closed at 30954.90 levels.
Nifty & Bank Nifty futures share price prediction for 13 April ( April Expiry)
Nifty futures price prediction for tomorrow 13 April 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14400 whereas All Down Moves Initiates Short Covering (Buy) @ 14200
If the Nifty futures share price Moves Above 14450 and sustain. Then you should Buy with 1st Target of 14495 during the day with a Stop Loss of 14280 FOR the Target of 14495-14530- 14604
If the Nifty futures share price Moves Below 14280 and sustain. Then you should Sell with the 1st Target of 14202 during the day with a Stop Loss of 14450. FOR the Target of 14202- 14150 -14116
Bank Nifty futures share price prediction for 13 April 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31200, whereas All Down Moves Initiates Short Covering (Buy) @ 29900
Suppose Bank nifty share price in futures Moves Above 31195 and sustain, then you should Buy with the 1st Target of 31430 during the day with a Stop Loss of 30750. FOR the Target of 31430 – 31700 – 32080
If Bank nifty share price in the futures Moves Below 30750 and sustained, then you should Sell with the 1st Target of 30410 during the day with a Stop Loss of 31195. FOR the Target of 30410 – 30140 – 29865
Global markets today
On the global fronts, Asian markets mostly closed lower on the first day of the week as investors waited to see if U.S corporate earnings can justify the high valuations and some cautiousness due to rising coronavirus cases in Asian countries. The European markets are trading mixed as investors held off from making big bets ahead of the earnings season. The US futures indices Dow and Nasdaq futures are trading marginally lower at this time ( 5 pm IST)
IIP & CPI Inflation Today
As per the data released by the Ministry of Statistics and Programme Implementation (MoSPI), India’s retail inflation measured by Consumer Price Index (CPI) rose to 5.52 percent in the month of March. This is as compared to 5.03 percent in the month of February. The market was expecting 5.40 percent CPI in March.
As per the data, the Index of Industrial Production (IIP) witnessed a contraction of – 3.6 percent in February. This compared to the -1.6 percent contraction recorded in the previous month. The estimation of IIP for the month of February was -3.0 percent.
Conclusions
Indian stock market started the weak on a pessimistic note and closed in deep red today. The rising coronavirus cases, fears of lockdown, and cautiousness of macroeconomic data expected in the post-market have dragged down the markets more than 3 percent.
Going ahead, tomorrow Indian markets will first react to the IIP and CPI data released post-market today and TCS quarterly earnings. You can also follow our daily morning market updates report and Nifty and Bank Nifty futures share price prediction for tomorrow 13 April.
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