Nifty and Bank Nifty Prediction for Friday 27 Jan 2023
Nifty and Bank Nifty Prediction for Friday 27 Jan 2023: Indian equity markets fell sharply and ended with deep cuts on Wednesday. The domestic market sentiments were hit due to weak global cues, sluggish growth outlook from corporates, and persistent selling pressure from foreign investors. All sectoral indices ended in the red, with banks, financials, and oil and gas falling the most. Trading was volatile on account of the monthly F&O expiry.
The market breadth was negative on Wednesday. The broader markets also slipped in line with their larger peers, as the Nifty mid and small-cap indexes fell 1.47 percent and 1.16 percent respectively. At the close, Sensex and Nifty declined by 1.27 percent and 1.25 percent respectively. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement on Wednesday, 25 Jan
On Wednesday, Jan 25, the Nifty futures (Jan Series) opened at 18109.80 levels, it made a negative opening of 18.45 points. It touched an intraday high at 18109.85 and a day’s low at 17845.30
The Nifty future has given a movement of 264.55 points on Wednesday. In the end, it declined 226.35 points or 1.25 percent and ended at 17891.95 levels.
The Bank Nifty futures (Jan Series) opened at 42700.05 levels on the last day of the week. It made a negative opening of 62.2 points on Wednesday. It has touched an intraday high at 42705.65 and a day’s low at 41550
On Wednesday, the Bank Nifty future gave a movement of 1155.65 points. At the close, it ended lower by 1117.20 points or 2.61 percent and closed at 41645.05 levels.
Nifty & Bank Nifty Prediction for Friday 27 Jan 2023 (Feb Expiry)
Nifty Futures Prediction for Tomorrow 27 Jan 2023
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18050 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
The Nifty Futures (Feb Series) closed at 17988.70. If the Nifty futures share price Moves Above 18030 and sustains. Then you should Buy with 1st Target of 18060 during the day with a Stop Loss of 17980 FOR the Target of 18060- 18095- 18118- 18140
If the Nifty futures share price Moves Below 17874 and is sustained. Then you should Sell with the 1st Target of 17845 during the day with a Stop Loss of 17927. For the Target of 17845- 17821- 17774- 17738
Bank Nifty Futures Prediction for Tomorrow 27 Jan 2023
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42000, whereas All Down Moves Initiates Short Covering (Buy) @ 41500
The Bank Nifty Futures (Feb Series) closed at 41872.95 levels. Suppose the Bank Nifty futures Moves Above 42030 and sustain, then you should Buy with the 1st Target of 42110 during the day with a Stop Loss of 41900. For the Target of 42110- 42235- 42340- 42410
If the Bank Nifty futures Moves Below 41600 and sustain, then you should Sell with the 1st Target of 41475 during the day with a Stop Loss of 41800. For the Target of 41475- 41335- 41210- 41140
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Global stock market updates
The other Asian stock markets mostly closed higher on Wednesday despite mixed cues from Wall Street overnight. Japan’s Nikkei rose to a seven-month high, as the Automobile and Steel shares outperformed as Suzuki Motors rallied after the bumper Q3 earnings posited by Maruti Suzuki. The trading volume in the region was low as Shanghai, Hang Seng and Taiwan markets closed for the Lunar New Year holidays.
European stock markets are trading flat at 6 pm IST, as the markets are looking for direction, airlines stocks are boosted in the UK after an upbeat quarterly earnings update from easyJet. Investors were cautious as they are looking ahead to the Q4 US GDP data to be released on Thursday
Conclusions
Indian markets fell sharply on the monthly expiry day and ended with deep cuts. The selling pressure was seen mainly in banking and financial stocks as investors preferred to book profit and stay sideline ahead of the holiday, key US economic data, and some major events lined up next week. Tomorrow Indian stock markets will remain closed on account of Republic Day, 26 January.
You can also follow our Daily Morning Report at 7.30 am IST to know the market direction.
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