Nifty, BankNifty, and FinNifty Prediction for Stock Market

The three main market indices of the Indian stock market are Nifty, Bank Nifty, and Fin Nifty. Nifty is a 50-stock index tracked by the National Stock Exchange (NSE), Bank Nifty represents the banking sector, and Fin Nifty reflects developments in financial services. Whether you are an active trader or a reflective investor, paying close attention to the prediction of these indices is crucial for making a financial strategy. In this article, we have given forecasts for Nifty, Bank Nifty, and Fin Nifty.

Nifty forecast

The Nifty index, the Midcap 50 or CNX Nifty, is a pillar of India’s equity markets. This benchmark stock market index encompasses the performance aspect of 50 prominent and highly liquid companies listed on the National Stock Exchange (NSE) of India. Consisting of a diverse range of sectors, the Nifty index collectively makes up about 65 % of the total market capitalization at NSE. Nifty index is calculated using the free-float market capitalization-weighted methodology and it assigns weights to each stock based on its market value, reflecting its influence on the index.

Nifty forecast for today

DateNifty ValueLowestHighest
14 Jun 2024₹ 23,399₹ 23,695₹ 22,950

Nifty forecast for tomorrow

DateNifty ValueLowestHighest
17 Jun 2024₹ 22,725₹ 22,283₹ 23,170

Nifty forecast for next week

DateDayLowestHighestValue
17-06-2024Monday₹ 22,283₹ 23,170₹ 22,725
18-06-2024Tuesday₹ 22,162₹ 23,049₹ 22,604
19-06-2024Wednesday₹ 22,116₹ 23,003₹ 22,558
20-06-2024Thursday₹ 22,020₹ 22,907₹ 22,462
21-06-2024Friday₹ 21,895₹ 22,782₹ 22,337

Nifty forecast for next month

DateWeekdayMinMaxValue
03.06.2024Monday₹ 22,156₹ 23,043₹ 22,598
04.06.2024Tuesday₹ 22,250₹ 23,137₹ 22,692
05.06.2024Wednesday₹ 22,205₹ 23,092₹ 22,647
06.06.2024Thursday₹ 22,260₹ 23,147₹ 22,702
07.06.2024Friday₹ 22,328₹ 23,215₹ 22,770
10.06.2024Monday₹ 22,370₹ 23,257₹ 22,812
11.06.2024Tuesday₹ 22,494₹ 23,381₹ 22,936
12.06.2024Wednesday₹ 22,368₹ 23,255₹ 22,810
13.06.2024Thursday₹ 22,441₹ 23,328₹ 22,883
14.06.2024Friday₹ 22,400₹ 23,287₹ 22,842
17.06.2024Monday₹ 22,283₹ 23,170₹ 22,725
18.06.2024Tuesday₹ 22,162₹ 23,049₹ 22,604
19.06.2024Wednesday₹ 22,116₹ 23,003₹ 22,558
20.06.2024Thursday₹ 22,020₹ 22,907₹ 22,462
21.06.2024Friday₹ 21,895₹ 22,782₹ 22,337
24.06.2024Monday₹ 21,842₹ 22,729₹ 22,284
25.06.2024Tuesday₹ 21,942₹ 22,829₹ 22,384
26.06.2024Wednesday₹ 22,043₹ 22,930₹ 22,485
27.06.2024Thursday₹ 22,149₹ 23,036₹ 22,591
28.06.2024Friday₹ 22,245₹ 23,132₹ 22,687

Nifty forecast for 1 year forecast

YearMonthAverageClosingChanges%
2023December₹ 21,072₹ 21,2087.47%
2024January₹ 21,749₹ 22,07011.84%
2024February₹ 21,984₹ 21,95511.26%
2024March₹ 21,801₹ 21,74910.21%
2024April₹ 21,350₹ 21,1627.24%
2024May₹ 20,662₹ 20,3663.20%
2024June₹ 20,846₹ 21,1157.00%
2024July₹ 21,876₹ 22,41313.58%
2024August₹ 22,017₹ 21,84010.67%
2024September₹ 22,031₹ 22,09511.97%
2024October₹ 23,330₹ 24,32223.25%
2024November₹ 23,639₹ 23,18817.51%
2024December₹ 22,683₹ 22,40213.52%

How is the calculation of Nifty done?

The NIFTY share index is overseen by a group of experts at the NSE Indices Limited. A Stock Index Advisory Committee was established to provide information and guidance on important stock index problems.

Two methods used in calculating NIFTY 50 indexes are market capitalization and float-adjusted. This method makes the index level reflect the total market value of those stocks included in the index at a given base period. The base period for a NIFTY 50 index is November 3, 1995. At that time its past value and the initial capital at which it was established were both set to be Rs. 2. 06 trillion.

The formula for the Nifty calculation is:

Index value = Market Value / ( Base Market Capital * 100 )

The method by which the indexes are calculated also accounts for changes in corporate actions like stock splits and issuing of rights.

The NIFTY share market index is used as a benchmark for all equities markets in India. Therefore, the NSE keeps updating the index to make sure that it remains stable and still serves as a representative of the Indian stock market.

BankNifty forecast

Bank Nifty is an index composed of Indian banking stocks with high liquidity and large capitalization. It is an index that represents the capital market performance of Indian banks. It is also traded and can be used by investors and market intermediaries to get exposure in the Indian banking sector.

Many of the stocks that are included in the Bank Nifty index include HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, State Bank of India, Federal Bank, RBL Bank, and Bandhan Bank.  The index is calculated using the free-float market capitalization method, which assigns a weight to each stock based on its market value and availability for trading.

BankNifty forecast today

Today BankNifty price is 49,847.

Bank Nifty TypeLevels
Bank Nifty Support49,702 – 49,557 – 49,315
Bank Nifty Resistance50,089 – 50,331 – 50,476
Bank Nifty Range50,887 – 48,902
BiasSideways to Bullish

FinNifty forecast

Fin Nifty stands for the Nifty Financial Services Index, an index that captures the performance of India’s financial sector. It covers stocks of banks, non-banking finance companies, housing finance companies, insurers, and asset management firms. Fin Nifty is a tradable instrument by which investors and market intermediaries may expose themselves to the Indian banking sector. It is also a benchmark that reflects the capital market performance of Indian banks.

FinNifty forecast for today

Today FinNifty price is 22,297

TargetGoal
Target 122,485
Target 222,368
Target 322,257
Target 422,147
Target 522,025

Conclusion

In conclusion, forecasting these indices gives investors and traders information to predict market movements and make informed investment decisions. Whether you are planning for the short term, navigating the upcoming week, or strategizing for the entire financial year of 2023-24, these insights given above will offer a framework for financial decisions and success.