Nifty & Bank Nifty Prediction for Tomorrow, 20 July 2021
Nifty and Bank Nifty prediction for tomorrow, 20 July 2021: Indian stock markets opened lower on Monday in line with other Asian market peers. The reason for the market fall is due to the weak Q1FY22 results of HDFC Bank and concerns about higher inflation and surge in delta variant of Covid-19 cases in several countries and its impact on economic growth. In the end, the benchmark indices fell more than a percent today.
Traders also remained cautious as Niti Aayog CEO Amitabh Kant expressed concern over high food inflation due to higher prices of oilseeds and edible oils. Market participants paid no heed towards the Services Export Promotion Council (SEPC)stating that the country’s services exports are expected to grow 10 percent in 2021-22 due to healthy growth sectors such as professional and management consulting, audiovisual, freight transport, and telecommunications.
Traders also overlooked FM Nirmala Sitharaman’s statement that India’s continuous wide-ranging reforms make the country an attractive destination for foreign investors.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 171 points or 1.07 percent and closed at 15752.40 while Sensex declined 586.66 points or 1.10 percent and closed at 52553.40 levels. The Bank Nifty on the spot price slipped 672.60 points or 1.88 percent and ended at 35079.20 levels.
The midcap index fell following their larger peers whereas the smallcap index closed positive. The Nifty midcap index fell 225.75 points or 0.81 percent and closed at 27625.40 levels. The Nifty smallcap index edged higher by 3.65 points or 0.03 percent and ended at 10450.70 levels.
The top five gainers in the Nifty 50 index were NTPC, BPCL, Divis Labs, Nestle, and Tata Cons. Products. The top five losers in the Nifty 50 index were HDFC Bank, IndusInd Bank, HDFC Life, Axis Bank, and HDFC. The value-wise most active stocks in the Nifty 50 index were HDFC Bank, Tata Steel, and Adani Ports. The volume-wise most active stocks for today were Tata Motors, ITC, and SBI.
On a sectoral basis, Healthcare, Chemical, and Infrastructure sectors closed in the green today. The sectors that dragged down the markets were Banking, Finance, Insurance, Metals, Automobiles, and IT & Software.
Nifty and Nifty Bank futures price movement for 19 July ( July Expiry)
The Nifty futures price opened at 15770 and made a negative opening of 166 points. It has touched an intraday high at 15836.45 and a day’s low at 15705.95
The Nifty futures price has given a movement of 135.5 points today. In the end, it fell 174.7 points or 1.10 percent and ended at 15761.30 levels.
The Bank Nifty futures opened at 35222.20. It made a positive opening of 634.30 points today. It has touched an intraday high at 35449.95 and a day’s low at 34965.50
During the day, the Bank Nifty in futures has given a movement of 484.45 points. In the end, it closed lower by 678.1 points or 1.89 percent and closed at 35178.40 levels.
Nifty & Bank Nifty Prediction for Tomorrow 20 July 2021, (July Expiry)
Nifty Futures Prediction for Tomorrow, 20 July 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15810 whereas All Down Moves Initiates Short Covering (Buy) @ 15670
If the Nifty futures share price Moves Above 15809 and sustain. Then you should Buy with 1st Target of 15832 during the day with a Stop Loss of 15730 FOR the Target of 15832-15860- 15898
If the Nifty futures share price Moves Below 15730 and is sustained. Then you should Sell with the 1st Target of 15702 during the day with a Stop Loss of 15809. FOR the Target of 15702- 15670 -15636
Bank Nifty Futures Prediction for Tomorrow, 20 July 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35450, whereas All Down Moves Initiates Short Covering (Buy) @ 34950
Suppose the Bank Nifty futures Moves Above 35435 and sustain, then you should Buy with the 1st Target of 35556 during the day with a Stop Loss of 35040. FOR the Target of 35556 – 35680 – 35920
If the Bank Nifty futures Moves Below 35040 and sustain, then you should Sell with the 1st Target of 34945 during the day with a Stop Loss of 35435. FOR the Target of 34945 – 34830 – 34710
Global markets today
On the global front, Asian markets closed in the red on Monday as investors are worried about the impact of delta variants of Covid-19 infections and elevated inflation on global economic growth. European markets are trading lower as travel stocks hit February low on Monday and on the concerns about fast-spreading delta variant that could hamper travel demand and slow down the ongoing economic recovery. The US futures markets, Dow Jones, and Nasdaq futures are trading lower at this moment at 4.30 pm IST, indication a weak opening for US markets.
Conclusions
While following the global markets, Indian stock market indexes fell more than a percent today. The markets were dragged down by HDFC Bank-led banking and financial stocks and a surge in delta variants in several countries. Due to the weak Q1 result of HDFC Bank, the group companies have also seen profit booking today.
Going ahead, Indian markets may trade negatively tomorrow due to weak global cues. You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for tomorrow 20 July.
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