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| 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 1st 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 1st 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 1st 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 1st 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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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.
