Indian Stock Market Update: Nifty and Bank Nifty trading strategies for next week

Nifty Bank Nifty Trading strategies
Nifty and Bank Nifty Trading strategies

It was a volatile week for the Indian stock market, a strong fight between bull and bear would continue till the election result. The last hour of trade pushed the benchmark indices in the positive zone but the market would remain volatile till the end of May series. In the end, BSE Sensex closed above 39000 and Nifty managed to reclaim 11750.


Oil prices dipped on Friday on the expectation that OPEC will raise output to counter shrinking exports from Iran after sanctions imposed by the US. The Brent crude was trading below 73 USD on Friday evening and rupee also appreciates and closed below Rs 70 against the dollar.


Sensex, Nifty and Bank Nifty Last week

On a weekly basis, both Sensex and Nifty gained around 1 percent whereas Bank Nifty plunged more than 2 percent during the week. On a sectoral front, auto, metal, telecom, utility, PSU Banking, and media were losers during the week whereas IT, consumer nondurables, energy, chemical were the gainers.

Q4 Result of Nifty 50 Stocks

On Thursday, Axis Bank reported a profit of Rs 1505.06 crore for the quarter ended 31st March. Banks Asset quality improved in Q4 with a percentage of gross NPA declining to 5.56 percent from 5.75 percent. Provisions and contingencies declined to 62 percent YoY and 11.23 percent QoQ to Rs 2711.43 crore.
Tata Steel’s net profit falls 84 percent to Rs 2295 crore in Q4, its consolidated revenue climbs 25 percent in March quarter to Rs 42424 crore from 33,705 crores a year earlier.
Heromotorco profit tanks 25 percent to Rs 730 corer on week sales volume, revenue from operations fell by 7.92 percentage.
The Yes Bank reported its biggest quarterly loss Rs 1507 crore for the quarter ended 31st March, its non-performing asset doubled to 3.22 percent.
A good up move in Axis and Tata Steel were seen in the market and on Tuesday we may see some downfall Yes Bank due to its performance in the 4th quarterly result. Next week Kotak Mahindra Bank, Tata Power, Ambuja cement and more than 150 companies including mid and small-cap companies will announce their quarterly result.

Nifty 50 Stocks Top Gainers and Losers of the week







Nifty 50 Stocks-Top 5 Gainers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
UltraTech Cem. 4609.95 4259.95 350.00 8.22 4,686.60-3,260.45
Grasim Inds 913.45 867.25 46.20 5.33 1,114.90-689.10
O N G C 168.40 160.60 7.80 4.86 192.00-127.60
TCS 2238.55 2150.05 88.50 4.12 2,275.95-1,682.53
UPL 970.35 934.05 36.30 3.89 973.90-537.25












Nifty 50 Stocks-Top 5 Losers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Bharti Infra. 272.90 307.20 -34.30 -11.17 338.95-242.25
Tata Motors 215.60 236.25 -20.65 -8.74 351.65-129.00
Maruti Suzuki 6842.85 7447.45 -604.60 -8.12 9,929.00-6,317.70
Indiabulls Hous. 738.45 800.55 -62.10 -7.76 1,397.00-575.35
Yes Bank 237.20 255.80 -18.60 -7.27 404.00-146.75

Next weeks event in the Stock Market

On 29th April Monday, Indian stock market will be closed on account of Voting at Mumbai, the market will also remain closed on 1st May on account of May Day. So there will be only three trading session next week.

Next week’s other important events are RBI will release Monetary and Credit Information review, Fiscal deficit and Infrastructure Output on YoY, Nikkei Manufacturing PMI and Auto sales figure.

Nifty and Bank Nifty Future trend for the week


Nifty Future Weekly Outlook - OHLC-(11716.30/11827.90/11573.50/11813.50)
Primary Trend of Nifty Future: Volatile (Bias Sideways) – Expected Volatility of 12.4472% (Range of 205 Points)
Range Bound Trend: All Up moves initiate Profit Booking (Sale) @ 11890 whereas All Down Moves Initiates Short Covering (Buy) @ 11730

If Nifty moves Above 11840 then you should Buy with 1st Target of 11935 during the day or at any point during the week by Trailing the Stop Loss from 11725- 11780- 11825- 11875- 11940- 11975 FOR the Target of 11985- 12030-12095
If Nifty moves Below 11775 then you should Sell with 1st Target of 11680 during the day or any point during the week by Trailing the Stop Loss from 11900- 11830- 11800- 11750- 11675- 11650 FOR the Target of 11644- 11610- 11570

Bank Nifty Future Weekly Outlook - OHLC-(30200.00/30244.90/29715.30/30177.90)
Primary Trend of Bank Nifty Future: Volatile (Bias Sideways) - Expected Volatility of 17.8891% (Range of 750 Points)
Range Bound Trend: All Up moves initiate Profit Booking (Sale) @ 30340, whereas All Down moves initiate Short Covering (Buy) @ 30015

If Bank Nifty moves Above 30240 then you should Buy with 1st Target of 30440 during the day or any point during the week by Trailing the Stop Loss from 30000- 30125- 30200- 30325- 30450- 30540 FOR the Target of 30545-30645-30770

If Bank Nifty moves Below 30110 then you should Sell with 1st Target of 29915 during the day or any point during the week by Trailing the Stop Loss from 30350- 30225- 30150- 30025- 39895- 29825 FOR the Target of 29810-29710-29580

Conclusion:

Indian stock market would be highly volatile until the election result, the market trend can be ascertained only after 23rd May. Traders should keep track of Q4 earnings, auto sales figure, PMI data before placing any trade. As long as Crude price is on corrective stage, FIIs inflow funds and global cues are positive the benchmark indices Nifty, Sensex and Bank Nifty can touch a new high.   




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Finogyan Team


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Indian Stock Market Update: Nifty and Bank Nifty trading strategies for next week Indian Stock Market Update: Nifty and Bank Nifty trading strategies for next week Reviewed by Finogyan on April 28, 2019 Rating: 5

1 comment:

  1. Very Useful Update in Nifty & Bank-Nifty,Thanks for This Post Sir.

    ReplyDelete

Nifty and Bank Nifty trend for next week (16th-20th Sept)

Nifty and Bank Nifty Trend

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