Nifty and Bank Nifty Future





After a strong rally yesterday, the Indian stock market saw profit booking in today’s session. Though most of the Asian Markets were negative in the morning, the Indian stock market opened in green. Bank Nifty touched record high today and closed at 0.46 percent higher than yesterday's close. Sensex and Nifty erased all early gains and end in red, Sensex was down 0.26 and Nifty lost 0.33 percent in the end.





Today around 11.30 am Indian stock market got volatile after the news flashed on TV that Prime Minister Narendra Modi wanted to deliver a special message to the country. Investors started guessing what could be the message and volatility started. After Prime Minister announced that India had demonstrated anti-satellite (A-SAT) missile and are in the group of 4 nations who has similar capacity, the market gained new high for the day. Later some profit booking is seen in the last hour in both Nifty and Sensex stocks.





Among the sectors, most of the stocks in Banking and Financial Services, Media and Consumer Durables were gainers today. FMCG, Infra, IT, Auto and Pharma sectors remained under pressure.









Nifty 50 Stocks Gainers and Losers for the Day





Top 5 Nifty 50 Stocks Gainers of the Day Company Name LTP (Rs ) Prev Close (Rs ) Change (Rs ) Change (%) 52 week H/L( Rs) Yes Bank 268.45 253.7 14.75 5.81 404.00-146.75 IndusInd Bank 1,804.25 1,714.65 89.6 5.23 2,038.00-1,333.15 Indiabulls Hous. 750.4 729.7 20.7 2.84 1,397.00-575.35 JSW Steel 287.5 281.35 6.15 2.19 427.55-256.60 St Bk of India 308.8 303.5 5.3 1.75 326.40-232.50 Top 5 Nifty 50 Stocks Losers of the Day Company Name LTP (Rs ) Prev Close (Rs ) Change (Rs ) Change (%) 52 week H/L( Rs) H P C L 269.2 277.05 -7.85 -2.83 370.00-163.00 NTPC 137 140.8 -3.8 -2.7 150.00-106.67 Eicher Motors 20,974.15 21,382.00 -407.85 -1.91 32,236.70-18,800.00 Tata Motors 169.85 173.1 -3.25 -1.88 372.35-129.00 Bharti Airtel 322.5 327.8 -5.3 -1.62 427.40-276.85

Indian Stock Market for Tomorrow





We have already seen expiry like volatility in today’s trading session. Tomorrow is actual expiry for Nifty and Bank Nifty more volatility can be expected.





Technical Outlook of Nifty and Bank Nifty Future for tomorrow

Primary Trend of Nifty Future: Sideways to Down (Volatile) Real-Time Volatility of 11.2706% (Range of 95 Points)





Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 11496 whereas all down moves initiate Short Covering (Buy) @ 11400





If Nifty future moves above 11468 then you should Buy with 1 st Target of 11525 during the day with the Stop Loss of 11430 For the Target of 11525-11555-11583- 11620





If Nifty future moves below 11425 then you should Sell with 1 st Target of 11372 during the day with the Stop Loss of 11462 FOR the Target of 11372-11343-11315-11278





Primary Trend of Bank Nifty Future: Sideways to Down (Volatile) Real-Time Volatility of 18.2266% (Range of 400 Points)





Bank Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 30180 whereas all down moves initiate Short Covering (Buy) @ 29875





If Bank Nifty future moves above 30100 then you should Buy with 1 st Target of 30275 during the day with the Stop Loss of 29970 For the Target of 30275 -30370- 30465 - 30580





If Bank Nifty future moves below 29970 then you should Sell with 1 st Target of 29780 during the day with the Stop Loss of 30090 For the Target of 29790 - 29685 - 29590 - 29475





Conclusion:





Tomorrow is monthly expiry of Nifty and Bank Nifty traders are advised to remain cautious for the day. Both Nifty and Bank Nifty trends are sideways to down, Indian stock market would be volatile tomorrow on the expiry day.





Also, read the article How to choose a Stock Broker for Investment





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Happy Investing!





Finogyan Team





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