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

31 Jul 2021
NIFTY Predictions and Forecasts for 2021 and Today, Support and Resistance
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According to NIFTY predictions by analysts on 2nd August 2021, NIFTY faces a resistance at 15,847 while support is at about 15,604. Axis SecuritiesNifty target upgraded to 17,400 for December 2021,  ICICI Direct: NIFTY will touch 16,400 by September 2021. JM Financial: NIFTY at 17,500 in 12-18 months
Analysts on an average predict that NIFTY target for December 2021 is 15,908 (last 10 forecasts average). Detailed Predictions are two sections below

Update for 31st July 2021: NIFTY closed 0.1% lower at 15,763 on Friday, 30th July 2021. NIFTY Metal was the worst performer followed by NIFTY PSU Bank.

Nikkei closed 1.8% lower on Friday while the Dow closed 0.42% lower.  

India reported 0.41 lakh new COVID Cases on Friday, it was 0.40 lakhs last Friday


Will NIFTY go down in the next few days?

The Overall Technical Rating by Analysts is Positive. Bullish to Bearish/ Neutral forecasts are in the ratio 2:1


NIFTY Predictions for Today: NIFTY support and resistance (2nd Aug 2021)

Source

Support

Resistance

on Moneycontrol

15,600 (S3)

15,836 (R1)

Sharekhan

15,513 (S3)

15,863 (R1)

on Investing.com

15,699 (S3)

15,841 (R1)

Positive Forecasts

[28th July] Nifty, Sensex may try to head higher 

[28th July] Possibility of an upside bounce in the next 1-2 sessions.

Negative Forecasts

[29th July] F&O watch: Nifty may trade in 15,500-15,800

[27th July] Nifty forms bearish candle

[27th July] Markets close on a bearish tone


The Moneycontrol NIFTY Forum


Latest NIFTY Stocks News

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NIFTY Predictions for 2021: NIFTY Predictions, Forecasts and Recommendations

  1. ICICI Direct: NIFTY at 16,500 by end of 2021 (June 9th)
  2. Geojit: NIFTY at 16,000 in 2021 (2nd June)
  3. Axis Securities: NIFTY to touch 16,100 by end of 2021 (April 22nd)
  4. Goldman Sachs: NIFTY target reduced to 16,300 by December 2021 (April 13th)
  5. Reliance Securities: NIFTY may hit 16,300 by December 2021 (April 5th)
  6. Prabhudas Lilladher: NIFTY to hit 16,075 by March 2022 (Feb 25th)
  7. Bank of America: NIFTY to hit 15,000 by December 2021 (Jan 21st)
  8. Kotak Securities: NIFTY at 15500 in 6 months (Jan 14th)
  9. IIFL Securities predicts NIFTY at 15,700 by end of 2021 (Jan 4th)
  10. Jefferies predicts NIFTY at 15,800 by end of 2021 (Jan 4th)

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NIFTY Predictions for Today: NIFTY and Other Markets Update (29th July 2021)

Index

Performance on 29th July

Performance Over 5 days

Performance Over 1 Month

NIFTY (India)

+0.54%

-0.37%

+0.29%

Nikkei (Japan)

+0.69%

+0.05%

-3.54%

DJIA (US)

-0.36%, 28th

+0.38%

+1.86%

NASDAQ (US Tech)

+0.70%, 28th

+0.75% 

+1.61%

DAX (Germany)

+0.33%, 28th

+0.24% 

-0.77%

Hang Seng (Hong Kong)

+2.91%

-5.5%

-9.6%


NIFTY Predictions for Today: Insights

a. Best and Worst Sectoral and Stock Performance (29th July)

NIFTY Metals is the best performer while NIFTY Pharma is the worst performer on Thursday (29th July).

Top performing stocks include JSW Steel, Tata Steel and Hindalco. Worst performing stocks include Maruti, Cipla and Powergrid

b. Index Valuation

Index P/E is now 28.13 which is high

c. FII and DII inflows

FIIs were net sellers while DIIs were net buyers on 28th July. FII net sales in July has been Rs 18,479 crores, DII net purchases has been Rs 13,390 crores. 

d. Global Macro:

  29th July Change over Previous day
Dollar Rupee INR 74.50 -0.31%
Brent Crude $ 75.14 +0.54%
Gold (June) $ 1816.9 +0.96%

US Dollar: Indian rupee looks for more upside towards 74.00USD INR linkage tends to have an impact on short term NIFTY performance

Brent Crude: Crude oil prices up on tight supplies, strong demand outlook

Gold trending upwards after dovish Fed speak. Read our top ranked Gold Predictions article


Global COVID cases increased by 4.1 million in the last one week, It had increased by 3.7 million in the week before

India: 0.28 million and 0.27 million

US: 0.53 million and 0.35 million

Europe: 0.87 m and 0.96 m


How did the NIFTY 50 stocks perform on 30th July 2021? 

Green Colour Indicates that the stock has outperformed the Market on that trading day as well as last 30 days

Red Colour Indicates that the stock has underperforme the Market on that trading day as well as last 30 days

  30th July Change % 30 day Change % Sector
BAJAJ-AUTO 2.11 -7.36 Automotive
M&M 1.82 -4.45 Automotive
HEROMOTOCO 0.92 -4.8 Automotive
TATAMOTORS 0.51 -13.44 Automotive
EICHERMOT 0.13 -5.27 Automotive
MARUTI 0.01 -7.16 Automotive
KOTAKBANK 0.92 -2.99 Banking
HDFCBANK 0.48 -4.77 Banking
ICICIBANK -0.76 8.18 Banking
INDUSINDBK -1.01 -3.48 Banking
AXISBANK -1.09 -5.27 Banking
SBIN -2.12 3.01 Banking
ULTRACEMCO -0.91 12.44 Cement
SHREECEM 2.21 2.77 Cements
BAJAJFINSV -2.46 17.45 Diverse Financial
GRASIM 0.73 3.51 Diversified
LT 0.37 6.72 Engg and Infra
UPL -1.79 1.98 Fertilizers
BRITANNIA 0.57 -6.2 FMCG
TATACONSUM 0.51 0.25 FMCG
HINDUNILVR 0.19 -5.58 FMCG
ITC -0.49 1.11 FMCG
NESTLEIND -0.98 0.39 FMCG
NIFTY 50 -0.1 0.26 Index
HDFCLIFE 0.31 -3.24 Insurance
SBILIFE -1.58 8.97 Insurance
TECHM 7.08 10.42 IT Services
HCLTECH 1.46 4.21 IT Services
INFY -0.32 1.88 IT Services
WIPRO -0.74 7.61 IT Services
TCS -0.88 -5.33 IT Services
HDFC 1.15 -1.38 Lending
BAJFINANCE -2.63 3.53 Lending
COALINDIA 1.34 -2.28 Metals
JSWSTEEL -1.46 7.76 Metals
TATASTEEL -1.6 22.95 Metals
HINDALCO -2.25 19.55 Metals
ONGC 0.92 -2.04 Oil and Gas
IOC -0.48 -4.4 Oil and Gas
BPCL -0.77 -4.83 Oil and Gas
ASIANPAINT -1.39 -1.14 Paints
SUNPHARMA 10.04 14.58 Pharma
CIPLA 4.24 -5.33 Pharma
DIVISLAB 1.03 11.29 Pharma
DRREDDY 0.82 -13.13 Pharma
ADANIPORTS 2.33 -4.15 Ports
POWERGRID 2.15 -26.36 Power
NTPC 1.93 1.55 Power
BHARTIARTL -0.42 6.85 Telecom
RELIANCE -0.79 -3.57 Telecom and Oil/Gas
TITAN -1.04 -1.04 Watches and Jewellery

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

  January February March April May
Retail Consumer Inflation 4.06% 5.03% 5.52% 4.29% 6.30%
Industrial Production -1.60% -3.60% 22.40% 134.40%  
Service PMI 52.8 55.3 54.6 54 46.4
Manufacturing PMI 57.7 57.5 55.4 55.5 50.8
GST  Rs 1,13,143 Cr 1,23,902 Cr 1,41,348 Cr 1,02,000 Cr  
EPFO 13,35,884 10,34,000 11,20,000    
Exports $ 27.45 B $ 27.67 B $ 34 B $ 30.6 B $ 32.27
Vehicle registrations 1.59 million 1.5 million 1.65 million 1.19 million 0.54 million
Core Sector 0.10% -4.60% 6.80% 56.10%  
Unemployment 6.53% 6.90% 6.50% 8.80% 11.80%

4. NIFTY Predictions for 2021 and Today: GDP Forecasts

CII: FY 2022 GDP at 9.5%

India's GDP contracted lower than estimated in the last FY. 

Moody's: (Original: Double digit growth for India this year). Moody revises India GDP forecast downwards to 9.3%

S & P: India will be on the fastest growing economies next Fiscal


5. NIFTY Predictions for 2021 and Today: Major Newsflow 

[26th July] Status quo likely in September review of Nifty composition but not for long

[15th July] Edelweiss Securities expects Nifty 50 to touch 16,100 in next 12 months

India received $ 64 billon FDI in 2020, 5th highest

Indian Express: Beware the equity market bubble: Experts raise the red flag

SIP Discontinuation drops in May

An average of 1.3 million demat accounts added every month since April 2020

NIFTY companies continue to cut debt

WPI jumps to 7 year high

Nomura: NIFTY at 15434 by March 2022


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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