Indian stock market: Nifty and Bank Nifty target for the week

Indian Stock Market last week

Indian stock market ended in green on last Friday. The Sensex and Nifty gained almost 0.40 percent and Bank Nifty gained above 0.50 percent during the day. On a weekly basis Sensex and Nifty, both are closed almost flat compared to the last week closing. Sensex and Nifty are down 0.3 and 0.2 percent whereas Bank Nifty lost almost 0.5 percent during the week. All data are on spot level basis.



Crude oil prices were firm on Friday, supported by ongoing supply cuts let by producer club OPEC and by US sanctions on petroleum exporters Iran and Venezuela. During the week Indian rupee gained 6 paise and closed at 69.33 against the dollar.

On the sectoral front, FMCG, Powar, Auto stocks were gainers during the week and Capital goods, telecom, and consumer durables were the loser. The total FIIs investment in the Indian stock market in this month is more than Rs 4400 cr and DIIs sold more than Rs 1500 Cr.

The voting for Lok Sabha has started from 11th of April. In the 1st Phase of the poll, voters turnout is marginally less compared to 2014 Lok Sabha election. The 2nd phase of voting will be done on the 18th of April. The recent rally In the Indian stock market is in the hope of stable government in the center.

Also, read: Key Factors likely to Drive Indian Stock Market ahead of Lok Sabha Election 2019  


Nifty 50 Top Gainers and Losers in the last 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)
Wipro 283.40 262.10 21.30 8.13 291.71-190.13
Tata Motors 215.95 205.15 10.80 5.26 364.40-129.00
Bajaj Auto 3008.15 2861.65 146.50 5.12 3,194.95-2,420.00
Cipla 554.85 532.10 22.75 4.28 678.45-483.75
ITC 305.75 294.55 11.20 3.80 322.95-259.00












Nifty 50 Stocks-Top 5 Losers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Indiabulls Hous. 830.10 903.05 -72.95 -8.08 1,397.00-575.35
Asian Paints 1438.65 1514.45 -75.80 -5.01 1,529.85-1,118.00
Bharti Airtel 341.95 356.65 -14.70 -4.12 427.40-276.85
Vedanta 183.90 191.70 -7.80 -4.07 313.50-145.80
Bajaj Fin. 3008.80 3114.20 -105.40 -3.38 3,130.00-1,818.00








Q4 Result corner

Tata Consultancy Services (TCS) has reported better earnings on 12th April, its PAT jumps 18 percent YoY to Rs 8126 Cr, also announces a dividend of Rs 18 per share. Infosys also announced Q4 result on the same day, the company reported better than expected result, it's PAT up by 11 percent YoY to Rs 4078 Cr.

Consumer Price Index(CPI) and Index of Industrial Production (IIP)

The CIP data released on last Friday for the month of March was not so encouraging but remained under control as per RBI guidelines. The CPI touched five months high to 2.86 percent with the help of food inflation. Inflation will rise further if the prediction done by Skymet about below normal monsoon becomes true. The IIP growth slows to 0.10 percent due to contraction in the manufacturing sector.

Indian Stock Market Events for Next Week:

Next week the Indian stock market will have only three trading days. The market will be closed on 17th and 19th April due to Mahavir Jayanti and Good Friday. The Wholesale Price Index (WPI) data will be announced during the market hour on Monday,15th April.
Monetary Policy Meeting minutes will be released on Thursday 18th April and Foreign Exchange Reserves will be announced on 19th April Friday. On the Q4 result front, Wipro and Reliance will announce its result on 16th April and 18th of April respectively.
Nifty and Bank Nifty Future technical levels for the next week
Indian stock market Nifty chart
Indian stock market Nifty chart

Nifty Weekly Outlook - OHLC-(11760.75/11780.00/11602.20/11703.85)

Primary Trend: Volatile (Bias Sideways) – Expected Volatility of 11.2544% (Range of 185 Points)
Range Bound Trend: All Up moves initiates Profit Booking (Sale) @ 11742 whereas All Down moves initiate Short covering (Buy) @ 11632
If Nifty moves above 11710 then you should Buy with 1st Target of 11775 during the day or any point during the week by Trailing the Stop Loss from 11625- 11650- 11700- 11740- 11780- 11800 FOR the Target of 11815-11845-11885
If Nifty moves below 11665 then you should Sell with 1st Target of 11600 during the day or any point during the week by Trailing the Stop Loss from 11750- 11705- 11675- 11640- 11595- 11575 FOR the Target of 11565-11530-11490
Indian stock market Bank Nifty Chart
Indian stock market Bank Nifty Chart


Bank Nifty Weekly Outlook - OHLC-(30405.85/30434.65/29772.00/30063.05)


Primary Trend: Volatile (Bias Corrective) - Expected Volatility of 14.5146% (Range of 605 Points)
Range Bound Trend: All Up moves initiates Profit Booking (Sale) @ 30250, whereas All Down moves initiate Short Covering (Buy) @ 29830
If Bank Nifty moves above 30125 then you should Buy with 1st Target of 30370 during the day or any point during the week by Trailing the Stop Loss from 29825- 29975- 30075- 30225- 30375- 30475 FOR the Target of 30495-30620-30775
If Bank Nifty moves below 29960 then you should Sell with 1st Target of 29710 during the day or any point during the week by Trailing the Stop Loss from 30250- 30100- 29990- 29850- 29690- 29585 FOR the Target of 29580-29450-29300
Conclusion
Indian stock market will have three trading days next week. The technical chart of Nifty looks sideways and Bank Nifty may correct some points in the next week. The US and Europe markets were closed on positive zone last Friday. If Asian Markets opens in green on Monday then we can see a positive opening on Monday. Later during the day crude oil price, rupee, and WPI will derive the market on Monday. Traders or Investors should keep an eye on the above factors mentioned before initiating any trade.
You would love to read, Do you trade in the stock market on Stock News? Avoid five common mistakes to earn money.


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 is not SEBI registered Advisors and 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: Nifty and Bank Nifty target for the week Indian stock market: Nifty and Bank Nifty target for the week Reviewed by Finogyan on April 13, 2019 Rating: 5

No comments:

Indian Stock Market: Nifty and Bank Nifty share price target for next week

Indian stock market could not hold its early gain on Friday . In the morning the Asian market Index was trading at mixed, Sgx Nifty Index...

Powered by Blogger.