Nifty | Bank Nifty Prediction for Tomorrow, 14 July 2021
Nifty & Bank Nifty prediction for tomorrow, 14 July 2021: Indian stock markets opened on an optimistic note on Tuesday amid positive global cues and better than expected economic data. The benchmark indices traded above their neutral line due to sustained buying by investors and domestic financial institutions. In the end, markets extended their early gains and closed higher today.
Other than positive global cues, Investors sentiment got boosted amid IIP data for May that witnessed strong over 29 percent growth due to low base effects. The CPI-based retail inflations have slightly eased in the month of June. The appreciation of the Indian rupee also supported the market sentiments.
However, the upside remains capped with the report of the Indian Medical Association (IMA) expressing concern over the laxity of the government and the people and large gatherings without following the Covid-19 protocols. Also, IMA said that these incidents could become the main reason for the third wave of the pandemic.
Today’s market updates: Sensex, Nifty, and Bank Nifty spot price
At the close, Nifty gained 119.75 points or 0.77 percent and closed at 15812.35 while Sensex was up by 397.04 points or 0.76 percent and finished at 52769.73 levels. The Bank Nifty on-spot price jumped 474.50 points or 1.35 percent and ended at 35673.40 levels.
The broader markets also closed in the green today. The Nifty midcap index gained 57.15 points or 0.21 percent and closed at 27560.75 levels. The Nifty smallcap index gained 103.85 points or 1.03 percent and closed at 10190.45 levels.
The top five gainers in the Nifty 50 index wereICICI Bank, Grasim, HDFC, Axis Bank, and SBI Life. The top five losers in the Nifty 50 index were Adani Ports, Dr. Reddy, HCL Tech, TCS, and Tech Mahindra. The most active stocks in the Nifty 50 index were HDFC Bank, ICICI Bank, and Tata Steel.
On a sectoral front, the Banking, Finance, Consumer Durables, Automobiles, Metals, and Oil & Gas sectors closed higher. The sectors that closed in the red were IT & Software, FMCG, Capital Goods, and Infrastructure.
Nifty and Nifty Bank futures price movement for 13 July ( July Expiry)
The Nifty futures price opened at 15798.25 and made a positive opening of 86.3 points. It has touched an intraday high at 15842.55 and a day’s low at 15758.25
The Nifty futures price has given a movement of 84.3 points today. In the end, it gained 122 points or 0.78 percent and ended at 15833.95 levels.
The Bank Nifty futures opened at 35530. It made a positive opening of 218.45 points today. It has touched an intraday high at 35815 and a day’s low at 35461.15
During the day, the Bank Nifty in futures has given a movement of 353.85 points. In the end, it closed higher by 432.45 points or 1.22 percent and closed at 35744 levels.
Nifty & Bank Nifty Prediction for Tomorrow 14 July, (July Expiry)
Nifty Futures Prediction for Tomorrow, 14 July
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15900 whereas All Down Moves Initiates Short Covering (Buy) @ 15780
If the Nifty futures share price Moves Above 15865 and sustain. Then you should Buy with 1st Target of 15884 during the day with a Stop Loss of 15795 FOR the Target of 15884-15909- 15940
If the Nifty futures share price Moves Below 15795 and sustained. Then you should Sell with the 1st Target of 15778 during the day with a Stop Loss of 15865. FOR the Target of 15778- 15754 -15727
Bank Nifty Prediction for Tomorrow, 14 July
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35950, whereas All Down Moves Initiates Short Covering (Buy) @ 35550
Suppose the Bank Nifty futures Moves Above 35890 and sustain, then you should Buy with the 1st Target of 35970 during the day with a Stop Loss of 35600. FOR the Target of 35970 – 36050 – 36210
If the Bank Nifty futures Moves Below 35600 and sustained, then you should Sell with the 1st Target of 35530 during the day with a Stop Loss of 35890. FOR the Target of 35530 – 35420 – 35325
Global markets today
On the global front, Asian markets closed mostly in the green on Tuesday as China’s exports grew much faster than expected in June. Hang Seng Index closed higher on tech and financial share rally. European markets are trading in the red ahead of the US inflation data, UK’s FTSE is trading marginally higher after a central bank move to scrap curbs on dividends. The US future indexes are trading mixed, Dow future is trading lower whereas Nasdaq future is trading higher at 4.30 pm IST.
Conclusions
The better than expected economic data announced on Monday and positive global cues helped the Indian market to close higher today. Nifty closed above 15800 levels is a positive sign, it can touch 15900 tomorrow. But again it depends on global market cues tomorrow as US inflation data for June is expected later today. Tomorrow, Infosys will also announce its Q1 FY22 results, so again IT sectors will be in focus.
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You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for tomorrow 14 July.
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