Nifty | Bank Nifty Prediction for Tomorrow 27 July 2021
Nifty and Bank Nifty prediction tomorrow 27 July 2021: The Indian stock markets opened flat and traded with a positive bias in morning deals on the back of buying in Consumer Durables, Healthcare, and FMCG sectors. The key indices traded near their neutral line in the second half. In the end, Sensex and Nifty closed marginally lower due to the weakness in Asian markets today.
The market took some support as ICRA Ratings in its latest report said that the government is set to exceed the budgeted tax collection target of Rs 22.2 lakh crore for 2021-22 through indirect taxes, primarily taxes on petroleum products. The report has also stated that June’s end tax collection rose to Rs 5.6 lakh crore, which is 39% higher than the same period last year.
However, the upside of the market remained capped as some concerns came with a private report that the second wave of Covid-19 has increased the pressure points for small and mini NBFCs as they did not get the benefits of the RBI’s liquidity measures announced last year.
Sensex, Nifty, and Bank Nifty updates on the spot levels
At the close, Nifty was down by 31.60 points or 0.19 percent and closed at 15824.45 while Sensex declined 123.53 points or 0.23 percent and finished at 52852.27 levels. The Bank Nifty spot price also fell 84.70 points or 0.24 percent and ended at 34949.70 levels.
The Midcap and Smallcap indexes closed almost flat today. The Nifty midcap index fell just 10.95 points or 0.04 percent and closed at 27573.85 levels. The Nifty smallcap index closed higher by 27.80 points or 0.27 percent and finished at 10434.75 levels.
The top five gainers in the Nifty 50 index were SBI Life, Bajaj Finserve, Hindalco, Divis Lab, and Ultratech Cement. The top five losers in the Nifty 50 index were JSW Steel, Wipro, Reliance, SBI, and BPCL. The most active stocks in the Nifty 50 index in terms of value were ICICI Bank, Reliance, and Tata Steel. The most active stocks in terms of volume were ITC, ICICI Bank, and Tata Motors.
On a sectoral front, the Construction Materials, FMCG, Healthcare, Insurance, and Metals sectors closed higher. On the other side, Oil & Gas, Banking, Automobiles, Infrastructure, and Real Estate sectors closed lower.
Nifty and Nifty Bank futures price movement for 26 July ( July Expiry)
The Nifty futures price opened at 15781.50 and made a negative opening of 71.6 points. It has touched an intraday high at 15880 and a day’s low at 15781
The Nifty futures price has given a movement of 99 points today. In the end, it declined 35.1 points or 0.22 percent and ended at 15818 levels.
The Bank Nifty futures opened at 34889. It made a negative opening of 151.9 points today. It has touched an intraday high at 35155 and a day’s low at 34731.85
During the day, the Bank Nifty in futures has given a movement of 423.15 points. In the end, it closed lower by 81.75 points or 0.23 percent and closed at 34959.15 levels
Nifty & Bank Nifty Prediction for Tomorrow 27 July 2021 (July Expiry)
Nifty Futures Prediction for Tomorrow 27 July 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15890 whereas All Down Moves Initiates Short Covering (Buy) @ 15780
If the Nifty futures share price Moves Above 15833 and sustain. Then you should Buy with 1st Target of 15865 during the day with a Stop Loss of 15774 FOR the Target of 15865-15897- 15930
If the Nifty futures share price Moves Below 15774 and is sustained. Then you should Sell with the 1st Target of 15749 during the day with a Stop Loss of 15833. FOR the Target of 15749- 15725 -15690
Bank Nifty Futures Prediction for Tomorrow, 27 July 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35200, whereas All Down Moves Initiates Short Covering (Buy) @ 34750
Suppose the Bank Nifty futures Moves Above 35058 and sustain, then you should Buy with the 1st Target of 35160 during the day with a Stop Loss of 34840. FOR the Target of 35160 – 35270 – 35380
If the Bank Nifty futures Moves Below 34840 and sustain, then you should Sell with the 1st Target of 34750 during the day with a Stop Loss of 35058. FOR the Target of 34750 – 34630 – 34490
Global markets today
On the global front, Asian markets closed mostly in the red as China and Hong Kong shares fell sharply due to government regulatory concerns in the education, property, and technology sectors. European markets are trading lower after regulatory concerns knocked in Asian markets, and ahead of a busy week for corporate earnings and economic data. The US future indexes, Dow Jones and Nasdaq futures are trading marginally lower at 5 pm IST.
Conclusions
The Indian markets closed marginally lower on Monday amid mixed cues from the global markets. Markets were traded in a narrow range today due to negative sentiments from the other Asian market peers. The broader markets also closed on a flat note today. Going ahead, the corporate earnings of Nifty 50 companies scheduled this week and the global cues mainly Fed’s meeting will set the market trend.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for Tomorrow 27 July.
Also read, Must read before opening Demat & Trading account online
Stock Market Prediction Next Week (26 to 30 July 2021)
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