Nifty | Bank Nifty Prediction for Tomorrow 12 April 2022
Nifty & Bank Nifty Prediction for Tomorrow 12 April 2022: Indian equity markets made a negative start on Monday amid weak cues from the other Asian markets. Soon after opening, the local markets extended their early losses on the back of selling in IT and Financial services stocks. However, the downside was limited due to buying in Energy, Media, and Realty stocks but indices traded below their natural lines throughout the day.
The broader markets closed mixed today. In the end, the benchmark indices Sensex and Nifty closed lower by 0.81 percent and 0.61 percent respectively. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 11 April (April Expiry)
The Nifty futures price opened at 17781.50, making a negative opening of 97.25 points. It has touched an intraday high of 17829.95 and a day’s low of 17690.35
The Nifty futures price has given a movement of 139.6 points today. In the end, it closed lower by 150.70 points or 0.84 percent and ended at 17728.05 levels.
The Bank Nifty futures opened at 37749.80, It made a negative opening of 235.45 points. The Bank Nifty futures has touched an intraday high at 38096.95 and a day’s low at 37681.15
During the day, the Bank Nifty futures has given a movement of 415.8 points. In the end, it closed lower by 215.25 points or 0.57 percent and closed at 37770 levels.
Nifty & Bank Nifty Prediction for Tomorrow 12 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 12 April 2022
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17800 whereas All Down Moves Initiates Short Covering (Buy) @ 17600
If the Nifty futures share price Moves Above 17785 and sustain. Then you should Buy with 1st Target of 17814 during the day with a Stop Loss of 17752 FOR the Target of 17814- 17865 – 17890- 17918
If the Nifty futures share price Moves Below 17722 and is sustained. Then you should Sell with the 1st Target of 17690 for the day with a Stop Loss of 17742. FOR the Target of 17690-17660- 17612- 17578
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Bank Nifty Futures Prediction for Tomorrow 12 April 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38000 whereas All Down Moves Initiates Short Covering (Buy) @ 37450
Suppose the Bank Nifty futures Moves Above 37930 and sustain, then you should Buy with the 1st Target of 37995 during the day with a Stop Loss of 37812 the Target of 37995- 38104- 38195- 38325
If the Bank Nifty futures Moves Below 37575 and sustain, then you should Sell with the 1st Target of 37430 the day with a Stop Loss of 37725. FOR the Target of 37430 – 37240 – 37125- 37065
Global Stock Markets today
On the global front, the other Asian markets closed lower on Monday. The Chinese stock market indexes posted their biggest drop in nearly a month on Monday, hit by the country’s harsh Covid-19 restrictions in Shangai and other areas. This also impacted stocks in Hon Kong as Hang Seng fell more than 3% today. Traders were also fear of tightening Monetary policy in the US and higher inflation data released today in China.
European market indexes are trading mixed on Monday. FTSE and DAX are trading lower tracking the weak cues from the Asian markets and due to UK GDP data disappointment. France’s CAC is trading higher as investors eyed the outcome of the first round of France’s presidential election race. The US future index, Dow, and Nasdaq futures are trading lower at this moment at 5 pm IST
Conclusion
Indian markets started the week on a frail note due to weak global cues. The market traded in a narrow range today. Traders were cautious ahead of the ECB meeting, US inflation data, and the domestic Q4 result season. Going ahead, tomorrow’s market will first react to the TCS Q4 results, expected later today. Besides global cues, some cautiousness is expected tomorrow in the market ahead of the domestic CPI data.
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