Indian Stock Market: Bank Nifty Future Trend for Tomorrow

Bank Nifty Future Trend
Bank Nifty Future Trend

India stock markets ended on a positive note today. Sensex and Nifty closed at almost 1 percent higher and Bank Nifty gained 0.48 percent at the end of the day. Almost all the sectors performed today, stocks in Metal, Auto, IT, Oil and Gas and Pharma sectors were the gainers of the day.


This week Nifty and Sensex gained almost 1.5 percent and Bank Nifty rose by 1.20 percent so far. In the last week's report on Sunday, we already mentioned that the trend of Nifty and Bank Nifty future would be "Up and volatile".

All ADAG stocks were down for the third consecutive day and hit all-time low after R Com informed last Friday for filing Bankruptcy at NCLT. The next hearing at NCLT is on 12th of February, the stocks in the ADAG group will be volatile for coming few days.

Top 5 Nifty 50 Stocks Gainers and Losers are:
Top 5 Nifty 50 Stocks Gainers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
Tech Mahindra811.35 751.00 60.35 8.04 814.50-563.65
Zee Entertainmen388.00 365.35 22.65 6.20 609.75-288.30
Cipla534.95 508.00 26.95 5.31 678.45-483.75
Tata Steel485.10 464.70 20.40 4.39 720.50-441.35
Grasim Inds733.50 703.95 29.55 4.20 1,201.65-698.00
Top 5 Nifty 50 Stocks Losers of the Day
Company NameLTP  (Rs )Prev Close (Rs )Change (Rs )Change (%) 52 week H/L( Rs)
Adani Ports330.35 339.80 -9.45 -2.78 424.00-292.10
Dr Reddy's Labs2789.70 2821.45 -31.75 -1.13 2,878.00-1,887.00
IndusInd Bank1526.05 1541.75 -15.70 -1.02 2,038.00-1,333.15
Titan Company1059.05 1066.70 -7.65 -0.72 1,074.00-732.30
NTPC137.10 138.05 -0.95 -0.69 180.00-134.05


Indian Stock Market for the next two days:


Tomorrow is Bank Nifty future weekly options expiry and also RBI Credit Policy, the announcement of credit policy will be at around 2.30 pm. Both the events will make the Bank Nifty future volatile especially in the second half of the day.

After the release of  Dec's inflation data in the mid of January 2019 market was expecting a rate cut in Feb RBI credit policy. But the populist and dream budget in 2019, especially the roll-out of farm income support scheme mentioned in the budget can postpone the rate cut as of now. The Feb RBI credit policy can be the status quo.

Indian Stock Market Tomorrow: Nifty Future and  Bank Nifty Future


Nifty Future Technical Levels 

Primary Trend:  Up – Real-Time Volatility of 14.2538 % (Range of 116 Points)


Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 11135 whereas all down moves initiate Short Covering (Buy) @ 11060

If Nifty future moves above 11112 then you should Buy with 1st Target of 11155 during the day with a Stop Loss of 11082 For the Target of 11155-11177-10728 - 11198 - 11225

If Nifty future moves below 11082  then you should Sell with 1st Target of 11040 during the day with a Stop Loss of 11112 FOR the Target of 11040-11020-10997 - 10970

Bank Nifty Future Technical Levels 


Primary Trend: Up – Real-Time Volatility of 22.858 % (Range of 255 Points)


Bank Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 27505  whereas all down moves initiate Short Covering (Buy) @ 27425

If Bank Nifty future moves above 27485 then you should Buy with 1st Target of 27530 during the day with a Stop Loss of 27450 For the Target of 27530 - 27555 - 27580 - 27610 

If Bank Nifty future moves below 27450  then you should Sell with 1st Target of 27402 during the day with a Stop Loss of 27485 FOR the Target of 27402 - 27377 - 27354 - 27325

Conclusion:


Nifty and Bank Nifty Future gained so far in February Series. Bank Nifty chart shows buy signal as of today. Tomorrow market will open as per global cues and in the second half, both the event RBI Credit Policy and Bank Nifty weekly option expiry will make the market volatile. Traders should remain cautious in the second half of the day and closely monitor the RBI credit policy outcome.


If you like the post please don't forget to share with others.


Happy Investing!

Finogyan Team





Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.






Indian Stock Market: Bank Nifty Future Trend for Tomorrow Indian Stock Market: Bank Nifty Future Trend for Tomorrow Reviewed by Finogyan on February 06, 2019 Rating: 5

No comments:

Powered by Blogger.