Nifty and Bank Nifty Prediction for Tomorrow 13 April 2022
Nifty and Bank Nifty Prediction for Tomorrow 13 April 2022: It was a negative start for the Indian equity markets on Tuesday tracking the feeble global cues. After a few minutes of trading, the benchmark indices extended their early losses. Sensex and Nifty traded below their crucial 17550 (Nifty) and 58600 (Sensex) levels most of the day.
The broader markets underperformed today, as Nifty midcap and smallcap indexes declined sharply. Heavy selling pressure was witnessed in the Realty, Metal, and IT stocks today. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 12 April (April Expiry)
The Nifty futures price opened at 17600.10, making a negative opening of 123.85 points. It has touched an intraday high of 17634.20 and a day’s low of 17482
The Nifty futures price has given a movement of 152.2 points today. In the end, it closed lower by 162.65 points or 0.92 percent and ended at 17561.30 levels.
The Bank Nifty futures opened at 37499.95, It made a negative opening of 251.4 points. The Bank Nifty futures has touched an intraday high at 38030 and a day’s low at 37400.
During the day, the Bank Nifty futures has given a movement of 630 points. In the end, it closed higher by 143.65 points or 0.38 percent and closed at 37895 levels.
Nifty & Bank Nifty Prediction for Tomorrow 13 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 13 April 2022
Primary Nifty Trend in futures: Mild Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17600 whereas All Down Moves Initiates Short Covering (Buy) @ 17400
If the Nifty futures share price Moves Above 17620 and sustain. Then you should Buy with 1st Target of 17660 during the day with a Stop Loss of 17570 FOR the Target of 17660- 17715 – 17752- 17815
If the Nifty futures share price Moves Below 17530 and is sustained. Then you should Sell with the 1st Target of 17509 for the day with a Stop Loss of 17556. FOR the Target of 17509-17482- 17428- 17374
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Bank Nifty Futures Prediction for Tomorrow 13 April 2022
Primary Trend of Bank Nifty Futures: Mild Positive & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38300 whereas All Down Moves Initiates Short Covering (Buy) @ 37800
Suppose the Bank Nifty futures Moves Above 38122 and sustain, then you should Buy with the 1st Target of 38200 during the day with a Stop Loss of 38000 the Target of 38200- 38312- 38425- 38535
If the Bank Nifty futures Moves Below 37670 and sustain, then you should Sell with the 1st Target of 37575 the day with a Stop Loss of 37840. FOR the Target of 37575 – 37502 – 37415- 37215
Global Stock Markets today
On the global front, Asian markets closed mixed on Tuesday as Shanghai and Hang Seng bounced back after yesterday’s sharp fall. Investors are in hope of easing covid restrictions and policy stimulus boosted hopes of an economic turnaround. Nikkei closed lower as investors fear the aggressive interest rate hike by the US Fed policy and China’s economic uncertainty.
European markets are trading lower on Tuesday due to an overnight selloff in the US and Asian markets and on fear of rising inflation and a slow down in China’s economy. The US futures, Dow, and Nasdaq futures are trading almost flat at this moment at 5 pm IST.
Conclusion
The Indian stock markets are under pressure due to inflation worries, the slow down in the Chinese economy due to covid, and supply chain disruptions. There is uncertainty in the markets and so the indexes will remain volatile for some time now. Going ahead, tomorrow the markets will first react to the domestic and US inflation data. Traders should remain cautious and can accumulate quality stocks on dips.
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