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| Nifty and Bank Nifty |
The Indian stock market today ended in green in 7th straight session. In the end, Sensex was up 268.40 points while Nifty was up 70.20 points. Today PSU Banking sector helped Bank Nifty to gain at 171.70 points and close at 29767.80 on spot level.
Bank Nifty is already trading on record high whereas Sensex and Nifty are about to touch an all-time high. The all-time high of Sensex is 38989 which was hit on August 29,2018, and Nifty50 record high was 11,760 registered on August 28, 2018. If the bull market continues then we can expect to break the record of Sensex and Nifty in March only.
Top Nifty50 Stocks Gainer and Losers of the Day
| Nifty 50 Stocks-Top 5 Gainers of the Day | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Bharti Infra. | 327.60 | 318.10 | 9.50 | 2.99 | 348.45-242.25 |
| HCL Technologies | 1036.20 | 1012.00 | 24.20 | 2.39 | 1,125.05-880.05 |
| NTPC | 134.90 | 132.29 | 2.61 | 1.97 | 150.00-106.67 |
| Reliance Inds. | 1376.55 | 1350.05 | 26.50 | 1.96 | 1,380.00-880.00 |
| ITC | 299.45 | 293.75 | 5.70 | 1.94 | 322.95-252.50 |
| Nifty 50 Stocks-Top 5 Losers of the Day | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Eicher Motors | 21759.10 | 22251.40 | -492.30 | -2.21 | 32,236.70-18,800.00 |
| JSW Steel | 288.50 | 294.95 | -6.45 | -2.19 | 427.55-256.60 |
| Hero Motocorp | 2614.05 | 2669.50 | -55.45 | -2.08 | 3,825.00-2,561.00 |
| Larsen & Toubro | 1357.95 | 1378.90 | -20.95 | -1.52 | 1,459.70-1,182.50 |
| Maruti Suzuki | 6825.20 | 6909.10 | -83.90 | -1.21 | 9,929.00-6,317.70 |
On the sectoral front, almost all sectors other than auto ended in a positive note. PSU bank, energy, IT, pharma gained the most. ADAG stocks gained today, Reliance communication gained 10 percent after the news of dues paid of Rs 462 cr to Ericsson.
Indian Stock Market for tomorrow
Thursday is Holi, Indian Stock Mark is closed, due to this Nifty and Bank Nifty weekly options expiry is scheduled tomorrow. The Federal Reserve begins their two-day meeting today, market experts are anticipating a neutral policy from the FED the US Central Bank. The decision would come after market hours tomorrow.
Technical Outlook of Nifty and Bank Nifty Future for tomorrow
Primary Trend of Nifty Future: Up Real-Time Volatility of 9.67% (Range of 88 Points)
Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 11605 whereas all down moves initiate Short Covering (Buy) @ 11555
If Nifty future moves above 11588 then you should Buy with 1st Target of 11605 during the day with the Stop Loss of 11568 For the Target of 11605-11620-11638
If Nifty future moves below 11562 then you should Sell with 1st Target of 11538 during the day with the Stop Loss of 11588 FOR the Target of 11538-11510-11495- 11480
Primary Trend of Bank Nifty Future: Up Real-Time Volatility of 9.2859% (Range of 215 Points)
Bank Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 30100 whereas all down moves initiate Short Covering (Buy) @ 29865
If Bank Nifty future moves above 30030 then you should Buy with 1st Target of 30170 during the day with the Stop Loss of 29930 For the Target of 30170 -30245- 30315 - 30405-
If Bank Nifty future moves below 29930 then you should Sell with 1st Target of 29790 during the day with the Stop Loss of 30030 For the Target of 29790 - 29435 - 29358 - 29275
Conclusion:
Both Nifty and Bank Nifty trend is up, the Indian stock market will open as per global cues tomorrow. Nifty and Bank Nifty would be volatile tomorrow due to weekly options expiry. Tomorrow aftermarket hours FOMC meeting outcome would come and Thursday Indian stock market is closed so traders should remain cautious for any carryforward position.
Also, read the article Sensex or Nifty – Which one you should follow
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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.
