Bank NIFTY Predictions & Forecasts (Today and 2021), Support & Resistance

Bank NIFTY Predictions & Forecasts (Today and 2021), Support & Resistance
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Bank NIFTY Prediction: According to analysts predictions, on 18th February 2021, Bank NIFTY faces a resistance at 37,147 while support is at about 36,377. Detailed Predictions are two sections below

3 Analysts


Update on 18th February 2021: Bank NIFTY opened 0.6% lower at 36,697 on 18th Feb, 2021. Bank NIFTY closed 0.7 % lower at 36,911 on Wednesday.

1. Bank NIFTY Predictions for Today: Bank NIFTY support and resistance (18th February 2021)

Source Support Resistance
Zeebiz 36,625 37,100
on Moneycontrol 36,106 (S3) 37,240 (R1)
Sharekhan 36,400 (S2) 37,100 (R1)

Day Trading Guide for Multiple NIFTY Index Banks

Day Trading Guide for HDFC Bank and SBI

Positive

Economic Times: Bank stocks will outperform

BNP Paribas: Expect 40% upside in Banking

Negative/ Neutral

Mint: NPA slippages increased in December

2. Bank NIFTY Predictions: Broker Recommendations

IIFL List of Breakout NIFTY stocks includes SBI and ICICI Bank

IndusInd bank was recommended as a Buy by Sharekhan (Rs 1000), Yes Securities, Economic Times, Motilal Oswal, Sharekhan, Prabhudas Lilladher (Rs 1026), IDBI Capital (Rs 1050) and ICICI Direct, reduce by HDFC Securities

SBI is a buy by UBS (Rs 430), a buy by Anand Rathi (Rs 450), buy by Sharekhan (Target: Rs 460), Prabhudas Lilladher (Target of Rs 445), a target of Rs 475 by Motilal Oswal, CLSA – Target of Rs 560, ICICI Direct – Target of Rs 410, Credit Suisse – Target of Rs 460, YES Securities (Rs 440), HDFC Securities: Target of Rs 455

Axis Bank was recommended as a buy by CLSA (Target Rs 1000 and may be 30-40% more) Motilal Oswal, Kotak Securities, Financial Express, Emkay Global, Arihant Capital, Prabhudas Lilladher. Insiders have not purchased Axis shares for 3 months (Simply Wall Street)

Bank of Baroda was recommended as a buy by Edelweiss, Emkay Global and Prabhudas Lilladher (Rs 82), neutral by Motilal Oswal, Hold by Sharekhan and ICICI Direct

Kotak Mahindra Bank was recommended as a buy by Sharekhan and ICICI Securities (Rs 2040), Hold by Emkay Global (Rs 2000), reduce by HDFC securities

HDFC Bank: Business Standard (Rs 2000), Buy by Macquarie (Target: RS 2005) Goldman Sachs (Target: Rs 1681) Buy by Motilal Oswal, Accumulate by Arihant Capital and KR Choksey, Axis Direct (Rs 1710), Zacks

RBL Bank: Simply Wall Street: Insider sells RBL shares, Kotak Securities (Rs 260), Motilal Oswal: Buy, target of Rs 270, Emkay Global, Hold for target of Rs 290

ICICI Direct: IDFC First Bank is a buy

ICICI Bank was recommended as a buy by Motilal Oswal (Rs 680) and IDBI Capital (Rs 670) and Sharekhan (Target Rs 680), Zacks

Federal Bank was recommended as a buy by Sharekhan

Bandhan Bank, Buy by KR Choksey (Target: Rs 457) Motilal Oswal is Neutral on with a target of Rs 370, Emkay is a buy with a target of Rs 500

PNB: Buy by Moneycontrol (Target: Rs 56), Sell by Kotak Securities, Hold PNB: Sharekhan (Target: Rs 42)

3. Bank NIFTY Prediction Insights (18th Feb)

a. Bank Stocks Performance

PNB and Bank of Baroda are leading the index today. ICICI Bank and Kotak Bank are the biggest losers.

Big winners of last 30 days – SBI and ICICI Bank. Worst in last 30 days – Bandhan Bank and RBL Bank

SYMBOL
LTP
%CHNG
30 D % CHNG
 08-Jan-2021
BANKBARODA 93.8 11.4 15.26
PNB 43.55 4.44 17.63
IDFCFIRSTB 58.35 3.46 20.9
SBIN 419.8 1.96 39.84
INDUSINDBK 1,046.15 1.25 10.76
BANDHANBNK 349.2 0.27 -2.18
RBLBANK 253.5 0.14 3.58
FEDERALBNK 86.3 -0.46 21.09
NIFTY BANK 36,697.40 -0.58 16.03
AXISBANK 773 -0.61 18.38
HDFCBANK 1,570.05 -1.04 6.97
KOTAKBANK 1,947.75 -2.1 7.72
ICICIBANK 642.95 -2.19 23.3

b. Index Valuation

Bank NIFTY P/E is at 34.47, close to the highest level in 2021 (as of 15th Feb 2021)

c. FII inflows (15th Feb 2021 Data)

FIIs were net buyers while DIIs were both net sellers on Monday. FII net purchases in February has been Rs 20,701 crores, DII net sales has been (-11403) crores.


Read our Gold Predictions here

Track NIFTY Predictions here



4. Bank NIFTY Predictions for 2021 and Today: Macros

Bank Credit grows by 5.9%

India Inflation rate at 4.1% in January while IIP is at +1% in December

SBI Revises upwards 2020-21 GDP rate to -7%

RBI: India will grow at 10.5% in FY 2022

RBI keeps repo rate steady

RBI: Consumer confidence is up

Service PMI continued to improve in January

Manufacturing PMI Improved significantly in January

5. Banking NIFTY Predictions for 2021 and Today: Major Newsflow 

India GDP to contract 1% in Q3: BofA

ICICI Bank takes stake in analytics firm

Banks wrote off Rs 25,500 crores in Q3. However, bad loan provisioning continues to fall from previous quarters

GOI identifies 4 banks for privatisation

CNBCTV18: Large Banks have done better than Mid sized banks

Business Standard: SBI could up 40% higher

Financial Express: Banking stocks likely to outperform NIFTY

Bank NPAs likely to be 7 lakh crores

Sana Capital: Bad Loans will haunt Banks soon

RBI Survey: Borrowing momentum strong until Q2FY22

Bank Strike: Banks will go on a 2 day strike from March 15th to protest privatisations plans

Moody’s: Pace of increase in NPA levels has slowed down

Banking Sector Risks have reduced (Moody’s)

Morgan Stanley Positive on ICICI Bank, HDFC Bank and Axis Bank and IndusInd Bank

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. 

Bank NIFTY Predictions & Forecasts (Today and 2021) , Support & Resistance

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