BSE NSE Market today: Nifty above 11500, IndusInd, Cipla top gainers 

Indian share market opened positive and later extended their gains in the late afternoon. The BSE NSE markets gained today with the support of the positive Asian markets. Banking and Financial stocks also helped the domestic to trade higher today. Midcap and smallcap indices outshine the BSE NSE benchmark index today.

The market sentiments got positive today as RBI data reported that bank credit grew 5.49% to Rs 102.11 lakh crore while deposits increased 10.92% to Rs 141.76 lakh crore in the fortnight ended August 28. However, traders have overlooked Asian Development Bank (ADB) in its latest report predicted that India’s economy is likely to contract by 9% this year revised from the 4% contraction forecasted three months ago.

On the global front, Asian markets were mostly closed in the green today. The US and Europen market sentiments are positive due to various corporate tie-up and partnership news. The European markets are trading flat to positive as traders are also cautious ahead of Central Bank’s meeting this week. The US Dow jones futures and Nasdaq futures are trading marginally higher today.

 

BSE NSE market on spot level today

 

Market at the close, Nifty gained 81.75 points or 0.72% and at 11521.80 while Sensex was up by 287.72 points or 0.75% and at 39044.35. The Bank Nifty on spot levels has gained 364.40 points or 1.65% and closed at 22465.65 levels.

The Nifty midcap and smallcap 100 indices gained more than 1% today. The midcap index was up by 186.85 points and at 17393.35 levels while the Nifty smallcap gained 91.40 points and closed at 6049.15 levels.

The top five Nifty index gainers for the day are Indusind Bank, Cipla, UPL, Bharti Airtel, and ICICI Bank. The top losers in the Nifty index are Titan Company, Maruti Suzuki, HDFC Life, Eicher Motors, and ITC. The most active stocks for the day in the NSE market were Reliance, TCS, and Bharti Airtel.

On a sectoral basis in the NSE market today, Banking & Finance, Healthcare, Consumer durables, Chemicals, and Infrastructure are closed higher. On the losing side Real Estate, Metals, Media, Insurance, and Hospitality are closed in the red today.

 

NSE market indices: Nifty & Bank Nifty share price in futures today

 

The Nifty futures opened at 11472.95, and it made a positive opening of 21 points today. It has touched an intraday high at 11542.25 and a day’s low at 11451.90

The Nifty futures has given a movement of 90.35 points. In the end, it declined 82.05 points or 0.72% and closed at 11534 levels.

The NSE banking index Bank Nifty futures opened at 22195. It was made a positive opening of 4.85 points only. It has touched an intraday high at 22597 and a day’s low at 22084.05

During the day, the Bank Nifty futures has given a movement of 512.95 points. In the end, it gained by 406.85 points or 1.83% and closed at 22597 levels

 

Nifty, Bank Nifty futures prediction for 16th Sept ( Sept Expiry)

 

 

Nifty prediction tomorrow in futures, 16th Sept 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11620 whereas All Down Moves Initiates Short Covering (Buy) @ 11480

If Nifty share price in futures Moves Above 11572 and sustain. Then you should Buy with 1st Target of 11594 during the day with a Stop Loss of 11504. FOR the Target of 11594- 11622- 11644

If Nifty share price in futures Moves Below 11504 and sustain. Then you should Sell with 1st Target of 11476 during the day with a Stop Loss of 11572. FOR the Target of 11476- 11449- 11426

 

 

NSE Bank Nifty prediction tomorrow in futures, 16th Sept  2020

Primary Trend of Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 22950, whereas All Down Moves Initiates Short  Covering (Buy) @ 22450

If the Bank Nifty share price in futures Moves Above 22650 and sustain. Then you should Buy with 1st Target of 22780 during the day with a Stop Loss of  22400. FOR the Target of 22780 – 22860- 22930

If the Bank Nifty share price in futures Moves Below 22400 and sustained. Then you should Sell with 1st Target of 22340 during the day with a Stop Loss of 22650. FOR the Target of 22340 – 22255- 22080

 

Conclusions:

The BSE NSE market traded a range-bound session today ending the day with positive notes. A recovery in Banking and Finance stocks seen in the last hour today. The Bank Nifty index closed at days high. The favorable inflation data and expectation of going down further have cheered the BSE NSE market today.

Tomorrow, the trader should remain cautious as the Fed’s meeting outcome is expected at night. The market may trade range-bound tomorrow, ahead of Fed’s meeting outcome. 

You can also follow our Daily Stock/Share Market live updates to know the Market Opening views.

Traders can also follow our Nifty and Bank Nifty prediction tomorrow in futures i.e for 15th Sept. 

You can check out the latest charting platform for your strategy here

 

Also read, Best Stock Market Books to Make Money

                 6 factors that will decide share market trend next week

 

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