Nifty Levels || Bank Nifty futures trend for 28 May
Nifty Levels and Bank Nifty trend in futures for 28 May: Indian stock markets opened marginally higher on Thursday amid negative Asian market cues. The key benchmark indices traded range-bound sessions with positive bias in the first half, ahead of the F&O expiry. In the second half, markets were volatile in a tight range and closed marginally higher.
The Indian stock market sentiments were positive due to falling coronavirus infections and in the hopes of lifting lockdown and restrictions imposed at several places. The market sentiments also got boosted due to recent FIIs inflow and the improved quarterly results in the 4th quarter. However, the upper side remained capped as RBI’s annual reports released on Thursday suggested that the rally in domestic stocks despite an estimated 8 percent contraction in FY21 GDP poses the risk of a bubble.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot levels
At the close, Nifty gained 36.40 points or 0.24 percent and closed at 15337.85 levels while Sensex gained 97.70 points or 0.20 percent and finished at 51,115.22 levels. The Bank Nifty on spot levels jumped 410.85 points or 1.19 percent and ended at 35095.05 levels.
Midcap and smallcap indices outperformed the benchmark indexes today. The Nifty midcap index gained 139.20 points or 0.54 percent and closed at 25704.90 levels. The Nifty smallcap index jumped 93.90 points or 1.01 percent and ended at 9320.25 levels.
The top five gainers in the Nifty 50 index were Shree Cement, SBI, Wipro, Kotak Mahindra, and Axis Bank. The top five losers in the Nifty 50 index were HDFC, IOC, Bajaj Finance, ONGC, and HUL. The most active stocks in the Nifty 50 index were HDFC, SBI, and Tata Steel.
On a sectoral basis, Banking, Capital Goods, IT & Software, Power and Metals sectors closed higher. The sectors that closed in the red were Telecom, Finance, Real Estate, FMCG, and Healthcare.
Nifty and Nifty Bank futures price movement for 27 May ( May Expiry)
The Nifty futures price opened at 15329 made a positive opening of 26 points. It has touched an intraday high at 15365.40 and a day’s low at 15274.20
The Nifty futures price has given a movement of 91.2 points today. In the end, it gained 37.35 points or 0.24 percent and ended at 15340.35 levels.
The Bank Nifty futures opened at 34605.60 It made a negative opening of 118.35 points today. It has touched an intraday high at 35110.30 and a day’s low at 34522.05
During the day, the Bank Nifty in futures has given a movement of 588.25 points. In the end, it closed higher by 371.05 points or 1.07 percent and closed at 35095 levels.
Nifty and Bank Nifty levels in futures for 28 May (June Expiry )
Nifty levels in futures for 28 May
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15450 whereas All Down Moves Initiates Short Covering (Buy) @ 15380
If the Nifty futures share price Moves Above 15416 and sustain. Then you should Buy with 1st Target of 15442 during the day with a Stop Loss of 15370 FOR the Target of 15442-15480- 15523
If the Nifty futures share price Moves Below 15370 and sustain. Then you should Sell with the 1st Target of 15347 during the day with a Stop Loss of 15416. FOR the Target of 15347- 15298 -15275
Bank Nifty levels in futures for 28 May
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700, whereas All Down Moves Initiates Short Covering (Buy) @ 35100
Suppose the Bank Nifty futures Moves Above 35550 and sustain, then you should Buy with the 1st Target of 35690 during the day with a Stop Loss of 35125. FOR the Target of 35690 – 35840 – 35980
If the Bank Nifty futures Moves Below 35125 and sustained, then you should Sell with the 1st Target of 34955 during the day with a Stop Loss of 34980. FOR the Target of 34955 – 34803 – 34530
Global markets today
On the global front, Asian markets were closed mixed on Thursday as the data showed China’s industrial firms grew at a slower pace in April. European market indices are trading mostly in the red, as investors are waiting for U.S weekly job data and the German index DAX hit after the shares in pharmaceutical maker Bayer was hit by a court ruling. US futures indexes are trading in the mix, Dow futures are marginally higher whereas Nasdaq futures are trading lower at 4.30 pm IST
Conclusions
Indian equity indices closed marginally higher on the monthly expiry of the May month contract. The Nifty closed above 13300 levels is a positive sign, can touch a new high soon. After opening a flat, Bank Nifty moved northwards and gained more than 1 percent today. The broader markets outperformed the benchmark indices, the Nifty midcap gained 0.54 percent, and smallcap was up 1 percent in the end.
You can also follow our Daily Morning Report and Nifty and Bank Nifty levels in futures for tomorrow 28 May.
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