Nifty | Bank Nifty prediction for tomorrow 12 Jan 2021
Markets gained 1 percent today, Nifty & Bank Nifty prediction for tomorrow 12 Jan 2021
Nifty & Bank Nifty prediction for tomorrow 12 Jan: Indian stock markets made an optimistic start on the first day of the week. The benchmark indices touched a new high in early deals on the back of buying IT and Telecom stocks. In the end, the markets managed to close around 1 percent today.
The market sentiments got boosted with Assocham’s statement that India’s economy is showing signs of V-Shaped recovery in 2021. India can see the return of consumer confidence, robust financial markets, an uptick in manufacturing and exports braving it out in the global market with a never-say-die spirit. According to IHS Markit, the Indian economy is likely to rebound with an 8.9% growth in the fiscal year beginning April 2021 after economic activity showed significant improvement in the last quarter.
On the global front, Asian markets are mostly closed in the green today. Japanese index Nikkei is not trading today. The European markets are trading lower on Monday as investors feared a surge in coronavirus cases across the continent. The US futures Dow and Nasdaq futures indices are trading in the red at this moment at 4 pm IST
Sensex, Nifty, and Bank Nifty today
At the close, Nifty gained 137.50 points or 0.96% and at 14484.75 level while Sensex gained 486.81 points or 1% and at 49269.32 level. The Bank Nifty on the spot levels declined by 85.30 points or 0.26% and ended at 31998.90 level.
The Nifty midcap and smallcap indices closed marginally lower today. The midcap index fell 54 points or 0.24% and closed at 22140.10. The smallcap index ended flat to negative at 7440.15, down only 2.85 points.
The top five gainers in the Nifty 50 index for the day were Tata Motors, HCL Tech, Infosys, and Wipro. The top five losers for the day in the Nifty 50 index were Tata Steel, Bajaj Finserve, Bajaj Finance, Reliance, and Larsen and Toubro. The most active for the day in NSE were Tata Motors, TCS, and Reliance
On a sectoral basis, IT & Software, Automobiles, FMCG, Insurance, and Telecom sectors closed higher today. The sectors that closed in the red were Infrastructure, Metals, Oil & Gas, Consumer durables, and Electricals.
Nifty & Bank Nifty futures prices today
The Nifty futures share price opened at 14453, it made a positive opening of 82.10 points. It has touched an intraday high at 14498.65 and a day’s low at 14400.95
The Nifty futures share price has given a movement of 97.7 points. In the end, it gained 122.6 points or 0.85% and closed at 14493.50 levels.
The Bank Nifty futures share price opened at 32480 It made a positive opening of 307.3 points today. It has touched an intraday high at 32480 and a day’s low at 31888
During the day, the Bank Nifty futures share price has given a movement of 592 points. In the end, it closed lower by 57.75 points or 0.18% and closed at 32114.95 levels.
Nifty and Bank Nifty prediction for tomorrow 12 Jan ( Jan Expiry)
Nifty prediction for tomorrow in futures 12 Jan 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14540 whereas All Down Moves Initiates Short Covering (Buy) @ 14400
If the Nifty futures share price Moves Above 14502 and sustain. Then you should Buy with 1st Target of 14527 during the day with a Stop Loss of 14464 FOR the Target of 14527-14545- 14565
If the Nifty futures share price Moves Below 14464 and sustain. Then you should Sell with the 1st Target of 14430 during the day with a Stop Loss of 14502. FOR the Target of 14430- 14398 -14370
Bank Nifty prediction for tomorrow in futures, 12 Jan 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32400, whereas All Down Moves Initiates Short Covering (Buy) @ 31920
Suppose Bank Nifty futures share price Moves Above 32170 and sustain. Then you should Buy with the 1st Target of 32290 during the day with a Stop Loss of 32000. FOR the Target of 32290 – 32430- 32580
If the Bank Nifty futures share price Moves Below 32000 and sustained. Then you should Sell with the 1st Target of 31840 during the day with a Stop Loss of 32170. FOR the Target of 31840 – 31700- 31570
Conclusions:
Indian stock markets started the week on a positive note today. The markets managed to gain 1 percent today with the help of positive global cues and TCS quarterly earnings. IT and Auto sectors helped the market to close higher.
Going ahead, tomorrow traders would remain cautious ahead of CPI, IIP data.Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 12 Jan 2021.
Also read, Top 3 Stock Picks for the next week (11-15 January 2021)
Nifty | Bank Nifty prediction for next week (11-15 Jan)
Intraday Trading books to make money from Stock Markets
If you like the post please share it with your friends and others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
