Nifty and Bank Nifty Prediction for Monday,18 Oct 2021
Nifty and Bank Nifty prediction for Monday, 18 Oct 2021: Indian stock markets continued their upward journey, benchmark indices gained more than 2 percent for the second consecutive week in a row. Nifty and Sensex closed at an all-time high last Thursday, 14 October. Indian Markets observed Holiday last Friday 15 October on account of Dussehra.
On Thursday markets gained with the support of positive global cues, ease in WPI inflations, and FIIs inflow. Indian markets are looking bullish and are likely to continue their northward journey
Nifty and Nifty Bank futures price movement on Thursday 14 Oct (Oct Expiry)
On Thursday 14 October, Nifty futures opened at 18260 levels, up by 87.25 points. It has touched an intraday high at 18365.90 and a day’s low at 18240
The Nifty futures has given a movement of 125.9 points on Thursday. In the end, it gained by 183.95 points or 1.01 percent and ended at 18356.70 levels.
The Bank Nifty futures opened at 38726.25 levels on the last day of the week. It made a positive opening of 7.9 points on Thursday. It has touched an intraday high at 39425 and a day’s low at 38702
On Thursday, the Bank Nifty in futures has given a movement of 723 points. In the end, it gained 689.95 points or 1.78 percent and closed at 39408.30 levels
Nifty & Bank Nifty Prediction for Monday, 18 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Monday, 18 Oct 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18400 whereas All Down Moves Initiates Short Covering (Buy) @ 18270
If the Nifty futures share price Moves Above 18352 and sustain. Then you should Buy with 1st Target of 18380 during the day with a Stop Loss of 18326 FOR the Target of 18380-18409- 18432
If the Nifty futures share price Moves Below 18290 and is sustained. Then you should Sell with the 1st Target of 18268 during the day with a Stop Loss of 18310. FOR the Target of 18268- 18202-18165
Bank Nifty Futures Predictions for Monday, 18 Oct 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39750, whereas All Down Moves Initiates Short Covering (Buy) @ 39200
Suppose the Bank Nifty futures Moves Above 39440 and sustain, then you should Buy with the 1st Target of 39654 during the day with a Stop Loss of 39178. FOR the Target of 39654 – 39780 – 39910
If the Bank Nifty futures Moves Below 39050 and sustain, then you should Sell with the 1st Target of 38950 during the day with a Stop Loss of 39130. FOR the Target of 38950 – 38750 – 38680
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Global market indexes
European markets closed higher on Friday due to a rally in Banks. The strong US corporate earnings also helped investors’ to ease the ongoing concerns about rising inflation in Europe. The US markets also jumped on Friday due to a strong streak of earning reports. The bank to insurance companies has announced their strong corporate earnings for the last quarter helped the markets to close higher during the week.
Conclusions
Indian stock markets closed at an all-time high last Thursday. The markets observed a holiday on Friday on account of Dussehra. The global markets closed on a positive note last Friday. FIIs also turned positive in the last two trading sessions. On Monday Indian markets are likely to open positive and continue their upward journey.
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