Nifty predictions July 21: Will Nifty hit 20,000 today? Bank Nifty may face hurdle at 46,500
equity market is expected to open lower on Friday tracking weakness in Asian peers. The Asian markets traded mostly down, while the US stock indices ended mixed amid a slew of corporate results. The trends on Gift Nifty also indicate a gap down opening for the Indian benchmark index.
The Gift Nifty was trading at 19,873 as compared to Nifty’s Thursday close of 19,979.15. Investors will watch out for the key corporate earnings for the June quarter with index heavyweight Reliance Industries to announce results later today. Market will also react to Hindustan Unilever Ltd (HUL) and Infosys Q1 results.
Also Read: Gift Nifty, fall in Asian markets to mixed US stocks: Check out key triggers for Indian stock market today Meanwhile, on Thursday, the upward march of the equity market continued for the sixth consecutive session as equity benchmarks the Sensex and the Nifty closed at fresh record highs amid mixed global cues. The Sensex closed 474.46 points, or 0.71%, higher at 67,571.90 while the Nifty closed up 146 points, or 0.74%, at 19,979.15, on Thursday. “Unlocking of value by heavy weights (like RIL & ITC) is apprising the main indices.
The anticipation of a good Q1 results from banks, is providing an extra boost to drive to new highs. Mixed cues from global peers is not disturbing the mood of the domestic market as FIIs inflows stay put to the prospects of the Indian economy," said Vinod Nair, Head of Research at Geojit Financial Services. On the technical side, Nifty formed a long bull candle on the daily chart with minor lower shadow.
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