Sensex, Nifty end flat, NSE Bank Nifty share price closed lower by 221 pts

 

NSE Nifty & Bank Nifty Share Price for 14 October: Indian market made a flat to negative start on Tuesday amid weakness in Asian markets and weak macro data announced yesterday. The benchmark indices gained after a few minutes of trading and traded positively in the first half. The market erased all intraday gains in the second half and closed flat to positive. The NSE Bank Nifty share price opened in negative today and later extended its losses at close.

The market sentiments got some boost after FM Nirmala Sitharaman announced a Rs 73000 cr package to central government employees to boost consumer demand and investment in the economy dented by the coronavirus pandemic. Some positive support also came in with Ficci President Sangita Reddy’s statement that there is a need for convergence between self-reliance and globalization.

On the global front, Asan markets were closed mixed. China’s exports grew slightly faster in September due to an increase in external demand. Trading in Hang Sang was suspended due to system error today. European markets are trading lower as Johnson & Johnson paused its COVID-19 clinical trials due to unexplained illness in study participants. The US Dow future is trading in the red whereas the Nasdaq future is trading higher today.

 

BSE Sensex, NSE Nifty, and Bank Nifty share price on spot levels

 

At the close, NSE Nifty gained 3.55 points and at 11934.50 while BSE Sensex closed 31.71 points higher and ended at 40625.51 levels. The NSE Bank Nifty share price on spot level closed lower by 220.60 points or 0.93% and ended at 23492.20 levels.

The Nifty midcap and smallcap 100 indices closed in the red today. The Nifty midcap index closed lower by 81.50 points or 0.48% and at 16913.15 levels. The smallcap index declined by 10.05 points or 0.17% and closed at 5844.95 levels.

The top five gainers in the Nifty index are HCL Tech, Kotak Mahindra, Infosys, Reliance, and Ultratech Cement. The top losers in the Nifty index for the day are Cipla, Titan, Adani ports, Divis Lab, and Sun Pharma. Reliance, Infosys, and Dr. Reddy’s Lab were the most active stocks in the NSE today.

On a sectoral basis, Metals & Mining, Oil & Gas, IT & Software,  Construction Materials, and Power sectors closed higher today. On the losing side Healthcare, Banking & Finance, Automobiles, Infrastructure, and Telecom sectors closed in the red.

 

NSE Nifty & Bank Nifty share price in futures price today

 

The Nifty futures share price opened at 11921.65 and it made a negative opening of 16.7 points today. It has touched an intraday high at 11988.80 and a day’s low at 11884.40

The Nifty futures share price has given a movement of 104.4 points. In the end, it declined 1 point and closed flat at 11937.35 levels.

The NSE Bank Nifty futures share price opened at 23699 It was made a negative opening of 67.95 points today. It has touched an intraday high at 23840 and a day’s low at 23450

During the day, the NSE Bank Nifty futures share price has given a movement of 390 points. In the end, it declined by 266.95 points or 1.12% and closed at 23500 levels.

 

Nifty and Bank Nifty futures trading strategy for 14th Oct ( Oct Expiry)

 

 

Nifty share price trading strategy for 14th Oct 2020

Primary Nifty Trend in futures: Mild Positive 

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11960 whereas All Down Moves Initiates Short Covering (Buy) @ 11830

If the Nifty futures share price Moves Above 11964 and sustain. Then you should Buy with 1st Target of 11994 during the day with a Stop Loss of 11905. FOR the Target of 11994- 12014- 12040

If the Nifty futures share price  Moves Below 11905 and sustain. Then you should Sell with 1st Target of 11884 during the day with a Stop Loss of 11964. FOR the Target of 11884- 11856 -11832

 

 

NSE Bank Nifty share price trading strategy for  14th Oct  2020

Primary Trend of  Bank Nifty Futures: Mild Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 23750, whereas All Down Moves Initiates Short  Covering (Buy) @ 23200

If NSE Bank Nifty futures share price Moves Above 23620 and sustain. Then you should Buy with 1st Target of 23670 during the day with a Stop Loss of  23350. FOR the Target of 23670 – 23740- 23865

If the NSE Bank Nifty futures share price Moves Below 23350 and sustained. Then you should Sell with 1st Target of 23280 during the day with a Stop Loss of 23330. FOR the Target of 23280 – 23200- 23070

 

Conclusions:

Indian markets traded sideways for the second consecutive days today. Traders were concern about the weak macro data announced yesterday and some cautiousness was also seen due to mixed global cues. As the earning season has started the market will now react to the corporate earnings. Currently, the midcap and small-caps indices are underperforming so traders are advised to stick to fundamentally strong large-cap stocks for the time being.

Traders can follow our Daily Morning market views and can follow our NSE Nifty and Bank Nifty share price trading strategy in futures for tomorrow 14th Oct.2020

 

Also read, Algo Trading Definition: Pros and Cons of Algorithmic trading

               Indian share market outlook for next week (12-16 October )

Infosys and Maruti share price target for next week

 

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Editor’s Desk

 

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