Nifty and Bank Nifty Prediction for Tomorrow 13 Jan 2023
Nifty and Bank Nifty Prediction for Tomorrow 13 Jan 2023: Indian equity markets ended a volatile session with minor cuts on Thursday for the third consecutive day. The market was trading cautiously ahead of the domestic and US inflation data, which are expected later in the day. The high volatility was due to the expiry of the weekly index option on the NSE. Buying was witnessed in the media, IT, and auto stocks while some selling pressure was seen in oil & gas, bank, and FMCG shares.
The market breadth was negative today. The broader markets also closed in the red today, as the Nifty midcap was down by 0.31 percent while smallcap indexes closed flat to the negative. At the close, Sensex and Nifty ended lower by 0.25 percent and 0.21 percent respectively. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 12 Jan
The Nifty futures price opened at 17982.50 making a positive opening of 19.55 points today. It has touched an intraday high of 18019.95 and a day’s low of 17820.05
The Nifty futures price has given a movement of 199.9 points today. In the end, it closed lower by 38.45 points or 0.21 percent and ended at 17924.50 levels.
The Bank Nifty futures opened at 42350 It made a negative opening of 43.35 points. The Bank Nifty futures touched an intraday high at 42500.90 and a day’s low at 41910
During the day, the Bank Nifty futures have given a movement of 590.90 points. In the end, it closed lower by 163.20 points or 0.39 percent and closed at 42230.15 levels.
Nifty & Bank Nifty Prediction for Tomorrow 13 Jan 2023 (Jan Expiry)
Nifty Futures Prediction for Tomorrow 13 Jan 2023
Primary Nifty Trend in futures: Negative with a cautious approach
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18100 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
If the Nifty futures share price Moves Above 17986 and sustain. Then you should Buy with the 1st Target of 18020 during the day with a Stop Loss of 17956 FOR the Target of 18020- 18054- 18106- 18142
If the Nifty futures (Jan Series) share price Moves Below 17880 and is sustained. Then you should Sell with the 1st Target of 17832 for the day with a Stop Loss of 17927. For the Target of 17832- 17802- 17770- 17745
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Bank Nifty Futures Prediction for Tomorrow 13 Jan 2023
Primary Trend of Bank Nifty Futures: Negative with a cautious approach
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42500 whereas All Down Moves Initiates Short Covering (Buy) @ 41800
Suppose the Bank Nifty futures (Jan Series) Moves Above 42410 and sustain, then you should Buy with the 1st Target of 42500 during the day with a Stop Loss of 42285 and the Target of 42500- 42660 – 42800- 42950
If the Bank Nifty futures (Jan Series) Moves Below 42120 and sustain, then you should Sell with the 1st Target of 42000 the day with a Stop Loss of 42240. For the Target of 42000- 41910- 41830- 41750
Global Stock Market Updates
Asian stock market indexes closed with little changes on Thursday as investors played a wait-and-see game ahead of the release of the US inflation data for the month of December. Traders are hoping for lower inflation data, prompting the US Fed to further ease interest rate hikes in the Feb policy meeting. Sentiments remain upbeat as China is reopening after three years of strict covid curbs.
Japan’s Nikkei pared early losses and closed flat to positive, banking stocks rallied amid speculation about a Bank of Japan (BOJ) stimulus tweak heading into next week’s policy meeting. Shanghai closed slightly higher as volume was low ahead of the lunar new year week-long holidays. Hang Seng closed marginally higher due to profit booking in tech-related stocks.
European markets are trading higher following the gains from Wall Street overnight and as investors eye on the crucial US inflation data, due later in the day. The US future indexes Dow Jones and Nasdaq futures are trading flat at 5.30 pm IST, indicating a cautious opening for the US markets today.
Breaking News: India’s CPI inflation falls again, easing to 5.72% in December from 5.88% in the previous month, whereas the IIP growth rebounded to 7.1% in November after it had contracted to 4% in October.
Conclusion
Indian markets traded volatile and ended slightly lower on the weekly expiry day. However, the domestic markets trimmed some losses in the last hour, as buying was seen in some beaten-down stocks. Going ahead, tomorrow the markets will first react to Infosys and HCL Tech results.
Besides, the reaction of global markets to US inflation data combined with domestic economic data will set the market direction tomorrow. You can also follow our Daily Morning Report at 7.30 am for market direction.
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