How to trade Nifty & Bank Nifty next week [ 30 Mar-1April ]
Key factors that may impact Nifty & Bank Nifty futures next week [ 30 March- 1 April ]
Nifty & Bank Nifty next week: Indian stock market declined during the week ended 26 March due to weak global cues, a spike in coronavirus infections in India, and FIIs selling pressure. The Indian markets fell consecutively for the second week in a row. Next week will be truncated one, Dalal Street will be closed on Monday 29 March due to Holi and 2 April on account of Good Friday, while most of the global markets will be closed on 2 April.
The key factors that may impact the Nifty and Bank Nifty futures for the next week are
Auto Sales numbers
Indian auto sales numbers for the month of March will be announced on 1 April The auto stocks have witnessed sharp buying on the last day of the week due to price hike announcement by some auto companies and expectations of improved sales number. Investors should focus and closely monitor the auto sector next week ahead of the sales numbers announcement.
Global market cues
The global market closed mixed last week. Most of the global markets will have a holiday of 2nd April due to Good Friday. In the coming week, traders need to track the US bond yields, progress in coronavirus vaccinations, and macroeconomic data that are going to announce next week.
| Important Global Macro Data Next Week | ||
| 30 Mar 2021 | Unemployment rates/retail sales | Japan |
| 31 Mar 2021 | Industrial Production Feb | Japan |
| 31 Mar 2021 | NBS Manufacturing & Non-Manufacturing PMI | China |
| 31 Mar 2021 | GDP Growth Final Q4 & Current account | GB |
| 1 Apr 2021 | Thankan large/small Manufacturer index | Japan |
| 1 Apr 2021 | Jibun Bank Manufacturing PMI | Japan |
| 1 Apr 2021 | Caixin Manufacturing PMI MAR | China |
| 1 Apr 2021 | Markit Manufacturing PMI | GB |
| 1 Apr 2021 | Markit Manufacturing PMI/ Jobless claim | US |
Nifty and Bank Nifty next week (30 March- 1 April )
Nifty futures prediction for the week ( 30 March-1 April )
Primary Trend of Nifty futures for next week: Negative
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 14730 whereas All Down Moves Initiates Short Covering (Buy) @ 14500
Suppose Nifty share price in futures Moves Above 14660 and sustain. Then you should Buy Nifty futures with 1st Target of 14697 during the day or week with a Stop Loss of 14588 FOR the Target of 14697-14735-14774- 14860
Suppose Nifty share price in futures Moves Below 14588 and sustain. Then you should Sell with the 1st Target of 14562 during the day or week with a Stop Loss of 14660. FOR the Target of 14562- 14523- 14475 -14425
Bank Nifty futures prediction for next week ( 30 March – 1 April )
Primary Trend of Bank Nifty future for the week: Negative
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 34200, whereas All Down Moves Initiates Short Covering (Buy) @ 33000
Suppose Bank Nifty share price in the futures Moves Above 33924 and sustain. Then you should Buy Bank Nifty futures with the 1st Target of 34025 during the day with a Stop Loss of 33350. FOR the Target of 34025 – 34130- 34380- 34870
If Bank Nifty shares price in the future Moves Below 33350 and sustained. Then you should Sell with the 1st Target of 33160 during the day with a Stop Loss of 33924. FOR the Target of 33160- 32780- 32650 – 32480
FII & DIIs investment in Indian stock markets
After investing for 10-12 months in Indian markets, Foreign Institutional Investors (FIIs) turned sellers in the equity markets last week. Whereas, Domestic Institutional Investors (DIIs) have turned buyers after a long time. FIIs sold Rs 6280.85 crores while DIIs bought Rs 4596.64 crores in the cash market segment last week.
As per market experts, India continues to be in focus among emerging markets for most FIIs and also ruled out any major selling by the FIIs. Fund outflow may be short-term effects, however, volatility in FIIs fund flow may continue throughout 2021. Investors should closely monitor FIIs investment and accordingly plan to accumulate good quality stocks on dips.
Coronavirus risk & Vaccination
On the domestic front, the news of the resurgence of coronavirus infection played a vital role to dragged down the markets last week. The recent spike in coronavirus infection seen mainly in five states Maharastra, Punjab, Chhattisgarh, Gujarat, and Madhya Pradesh. These five states account for 80 percent of the total virus reported on a daily basis. According to Union Health Ministry Indian recorded 62,714 coronavirus infections in the last 24 hrs, the highest number in 2021 so far. While daily death crossed the 300 marks for the first time in India in 2021.
Regarding vaccination, India makes a landmark achievement of administering over 6 crores Coronavirus Vaccine doses in record time. India administered over 21.5 lakh doses on 27 March which is the largest vaccination drive in the world. Coronavirus risk and vaccination progress should be closely watched out for, any negative news on a further spike in coronavirus cases in India may impact negatively on Nifty and Bank Nifty next week.
You can also read daily morning market updates before the markets get open and Nifty and Bank Nifty levels on daily basis.
You may also like to read, Best Options Trading Books in India-Must Read 2021
Weekly market updates- Top NSE gainers and losers
Happy Investing!!
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