Nifty and Bank Nifty Prediction for Tomorrow 20 Sept 2022
Nifty and Bank Nifty Prediction for Tomorrow 20 Sept 2022: Indian stock markets ended with modest gains on Monday amid negative global cues. The market sentiments were nervous, as investors prepared for several central bank meetings this week with the expectation of interest rates rising globally, and an ultra-hawkish monetary policy by the US Fed. Among the sectors, PSU Bank, Media, and FMCG were the gainers whereas Realty, Consumer Durables, and Pharma were the losers.
The market breadth was quite negative today, the broader markets closed almost flat today. At the close, Sensex and Nifty ended higher by 0.51 percent and 0.52 percent respectively. You can read the detailed market highlights here.
Nifty and Bank Nifty futures price movement for 19 Sept (Sept Expiry)
The Nifty futures price opened at 17559.90, making a slightly negative opening of 6.2 points today. It has touched an intraday high of 17690 and a day’s low of 17456.25
The Nifty futures price has given a movement of 233.75 points today. In the end, it closed higher by 73.85 points or 0.42 percent and ended at 17640 levels.
The Bank Nifty futures opened at 40839.85 It made a slightly positive opening of 2.25 points. The Bank Nifty futures has touched an intraday high at 41267 and a day’s low at 40591.05
During the day, the Bank Nifty futures has given a movement of 675.95 points. In the end, it closed higher by 183.20 points or 0.45 percent and closed at 41020.80 levels.
Nifty & Bank Nifty Prediction for Tomorrow 20 Sept 2022 ( Sept Expiry)
Nifty Futures Prediction for Tomorrow 20 Sept 2022
Primary Nifty Trend in futures: Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17750 whereas All Down Moves Initiates Short Covering (Buy) @ 17530
If the Nifty futures share price Moves Above 17692 and sustain. Then you should Buy with 1st Target of 17730 during the day with a Stop Loss of 17665 FOR the Target of 17730- 17753- 17802
If the Nifty futures share price Moves Below 17630 and is sustained. Then you should Sell with the 1st Target of 17585 for the day with a Stop Loss of 17652. For the Target of 17585- 17530- 17465
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Bank Nifty Futures Prediction for Tomorrow 20 Sept 2022
Primary Trend of Bank Nifty Futures: Negative and Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41400 whereas All Down Moves Initiates Short Covering (Buy) @ 40700
Suppose the Bank Nifty futures Moves Above 41225 and sustain, then you should Buy with the 1st Target of 41315 during the day with a Stop Loss of 41000 and the Target of 41315- 41505- 41615
If the Bank Nifty futures Moves Below 40890 and sustain, then you should Sell with the 1st Target of 40800 the day with a Stop Loss of 40970. For the Target of 40800 – 40721 -40575
Global Stock Markets Today
On the global front, the other Asian stock market indexes mostly closed in the red on Monday tracking negative cues from global markets on Friday, amid concerns about the outlook for the global economy. European markets are trading in the red following their Asian counterparts. The US future indexes are trading lower, indicating a negative start for the US markets today.
Conclusion
Indian stock market indices snapped 3-day losing streak and made a modest gain today amid volatility. The choppiness in the markets will continue in the market ahead of the FOMC meeting outcome which is due on 21 September. Traders should remain cautious and avoid taking any carry-forward position.
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