NIFTY Predictions and Forecasts for 2021 and Today, Support and Resistance

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NIFTY Predictions and Forecasts for 2021 and Today, Support and Resistance

26 Jan 2021
NIFTY Predictions and Forecasts for 2021 and Today, Support and Resistance
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Crowdwisdom360
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According to analysts predictions, on 27th Jan 2021, NIFTY faces a resistance at 14511 while support is at about 14079. Analysts also predict that NIFTY will reach 15318 (last 10 forecasts average) by December 2021. ICICI Direct and Axis Securities are predicting NIFTY above 16000 by December 2021. Detailed Predictions are two sections below

Update for 26th January 2021: SGX NIFTY closed 0.4% lower at 14197 this evening

NIFTY closed 0.9% lower at 14239 yesterday. Both FIIs and DIIs were net sellers, two days in a row. FII Net purchase in January has been Rs 20312 crores, DII net sales has been (-16147) crores.The momentum has slowed on both.

Insights: NIFTY IT lost more than 1.5% while NIFTY Pharma gained more than 1.5% yesterday. RIL was down 5.6% yesterday as its earnings disappointed investors.

Overall, NIFTY trends look positive with high FII liquidity and a rapidly improving domestic economy. However, P/E at 38.4 is high by historic standards and hence risky. Domestic Investors have generally been much more cautious over the last two months. That said, ICICI Direct analysis suggests that comparison with historic PE ratios may not be correct. 

Macro: On Tuesday, The Dollar Index was trading 0.2% lower at 90.2Brent Crude was trading 0.1% higher at $ 56.9Gold was trading 0.2% lower at $1851

Global COVID cases increased by 0.45 million on 25th January. The US added 152244 cases while UK added 22195 cases. Overall daily new cases are seeing a downward trend.


Read our Gold Predictions here


1. NIFTY Predictions for Today: NIFTY support and resistance (27th January 2021)

Source Support Resistance
On Economic Times 14200 14450
on Moneycontrol 14018 (S3) 14542 (R1)
On Investing.com 14018 (S3) 14542 (R1)
  1. Moneycontrol: NIFTY forms bearish candle
  2. Financial Express: Most Companies Q3 results beat street expectations 
  3. ETNOW: Wall of Support for NIFTY
  4. YES securities: NIFTY at 14500 in January
  5. Morningstar: Mid Caps are looking Good

2. NIFTY Predictions for 2021: NIFTY Predictions, Forecasts and Recommendations

  1. Bank of America: NIFTY to hit 15000 by December 2021 (Jan 21st)
  2. ICICI Direct: NIFTY at 16300 by end of 2021 (Jan 19th)
  3. Axis Securities: NIFTY to breach 16000 by end of 2021 (Jan 15th)
  4. Kotak Securities: NIFTY at 15500 in 6 months (Jan 14th)
  5. IIFL Securities predicts NIFTY at 15700 by end of 2021 (Jan 4th)
  6. Jefferies predicts NIFTY at 15800 by end of 2021 (Jan 4th)
  7. Shriram Life: NIFTY at 15000 in 2021 (25th Dec)
  8. Nomura has set a target of 14680 for NIFTY by end of 2021 (Dec 22nd)
  9. Credit Suisse predicts NIFTY to touch close to 14200 (low double digits) in 2021 (December 18th)
  10. JP Morgan predicts NIFTY could touch 15000 by December 2021 (December 14th)

3. NIFTY Predictions for 2021 and today: Markets Summary 

Here is how NIFTY and various Global Indices have performed on the last trading day and over the last one month

Share Index Performance on 26th of January Performance Over 1 Month
NIFTY (India)

-0.9%

25th Jan

+2.6%
Nikkei (Japan) 

-1.0%

+6.7%
DJIA (US)

-0%

+1.8%
NASDAQ (US Tech) 

-0%

+5.7% 

DAX (Germany) 

+1.7%

-1.1% 
Hang Seng (Hong Kong)

-2.6%

+12.4%

 

4. How did the NIFTY 50 stocks perform on 25th Jan 2021? 


1. Pharma: 4 out of 4 stocks have Outperformed the index in the last 1 week
2. Passenger Cars and Two Wheelers: 5 out of 6 stocks have outperformed the index in the last one week 
3. IT Services: 3 out of the 5 stocks in the NIFTY 50 have outperformed the index in the last 1 week
4. FMCG: 2 out of 4 FMCG stocks have outperformed the index in the last 1 week
5. Banking: 4 out of 6 stocks have underperformed the index in the last 1 week

 

  One Week Change Sector
BAJAJ-AUTO 16.8% Two Wheelers
TATAMOTORS 14.0% Automotive
BAJAJFINSV 10.0% Financial Services - Diverse
HEROMOTOCO 9.7% Two Wheelers
GRASIM 6.8% Textiles
UPL 6.2% Fertilizers
CIPLA 5.0% Pharma
BAJFINANCE 4.3% Lending
HINDUNILVR 3.2% FMCG
MARUTI 3.1% Automotive
LT 2.7% Engineering and Infra
TCS 2.6% IT Services
ADANIPORTS 2.4% Ports
WIPRO 2.1% IT Services
INFY 1.8% IT Services
JSWSTEEL 1.4% Steel
ICICIBANK 1.3% Banking
AXISBANK 0.9% Banking
EICHERMOT 0.8% Two Wheelers
SUNPHARMA 0.8% Pharma
DRREDDY 0.7% Pharma
DIVISLAB 0.6% Pharma
BRITANNIA 0.3% FMCG
ULTRACEMCO 0.2% Cement
TITAN 0.0% Watches, Jewellery and Diamonds
NIFTY 50 -0.3% Index
HDFC -0.4% Loans
M&M -0.5% Automotive
HINDALCO -0.8% Aluminium
HDFCBANK -0.9% Banking
BHARTIARTL -0.9% Telecom
NESTLEIND -1.1% FMCG
HDFCLIFE -1.4% Insurance
TECHM -1.7% IT Services
RELIANCE -1.9% Telecom and Petroleum
SHREECEM -2.0% Cements
TATASTEEL -2.1% Steel
ASIANPAINT -2.5% Paints
POWERGRID -2.5% Power
KOTAKBANK -2.6% Banking
GAIL -2.9% Gas
HCLTECH -3.1% IT Services
SBILIFE -3.6% Insurance
SBIN -3.9% Banking
NTPC -4.1% Power
IOC -4.3% Petroleum
ITC -4.5% FMCG
ONGC -4.6% Crude Oil
COALINDIA -4.7% Coal
BPCL -5.1% Petroleum
INDUSINDBK -8.9% Banking

5. NIFTY Predictions for 2021 and Today: Macros - Inflation, IIP, GDP, PMI CCI etc

India and China saw the sharpest increase in FDI last year

Bank Credit has grown by 3.2% this fiscal so far 

WPI Inflation eased to 1.2% in December

Retail CPI eased to 4.6% in December

IIP Contracted 1.9% in November

PMI Service continued to be in an expansion mode in December but at a slower pace.

PMI Manufacturing was at a super healthy 56 in December 2020

Trade Deficit has widened in December

Passenger vehicle companies saw record sales in December. Hero Motocorp on the other hand grew by just 5%

GST collections grew to record levels in December 2020

India's core sector contracted 2.6% in November

India's Q2 GDP numbers were above expectations with a negative growth of -7.5%. GDP growth is likely to be positive in the 3rd quarter of 2020-21

Unemployment - 6.5%  (Improved over the last week). India unemployment levels closer to 2018 levels


6. NIFTY Predictions for 2021 and Today: GDP Forecasts

RBI: India to report positive growth in GDP in Q3 FY2021 (21st Jan)

Fitch: India GDP to grow 11% in FY 2022 (14th Jan)

MOSPI predicts that the Indian Economy will contract 7.7% this year

The World bank has predicted that indian economy will contract 9.6% in FY 2021

CARE ratings has predicted that the Indian economy will grow 10% in FY 2022

Niti Aayog: Economy to reach Pre-COVID levels by end of 2021

ICRA forecasts FY 2021 GDP at -7.8%, FY 2022 at 10%

RBI: Indian Economy recovering faster than forecast

India ratings has revised India's FY 21 GDP growth from -11.8% to -7.8%


7. NIFTY Predictions for 2021 and Today: Major Newsflow 

CLSA on CNBCTV18: Long term NIFTY target of 18000

RBI Article: Economic recovery now based on solid fundamentals

Pharma Companies likely to perform well in 2021 as well

Power Generation also appears to be on the recovery path

ICRA: Indian economy returning to pre-covid levels

On road traffic has reached pre-pandemic levels: Tom Tom

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a SEBI registered advisor to guide you on your financial decisions. 

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