Nifty | Bank Nifty Prediction for Tomorrow, 15 Sept 2021
Nifty and Bank Nifty Prediction for Tomorrow, 15 Sept 2021: Indian stock markets opened higher on Tuesday amid positive global cues. Markets continued to trade in the green territory led by gains in the heavyweight HCL Tech, IndusInd Bank, and Hero Motor. In the end, markets trimmed their early gains and closed marginally higher.
The market sentiments remained positive with India Ratings and Research’s report stated that inflation rates are expected to decline till at least November this year. The CPI-based retail inflation for the month of August declined both sequentially and on a year-over-year basis to 5.30 percent. The strong base effect resulted in the decline in retail inflation. However, the upside remained capped as the WPI inflation announced today rose 11.39%
Meanwhile, Union Minister of Commerce and Industry Piyush Goyal held a discussion with British Secretary of State for International Trade Liz Truss on enhancing the India-UK trade partnership. Goyal said that India and UK are strengthening trade ties by moving towards an early harvest deal, followed by a comprehensive Free trade agreement (FTA).
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Sensex gained 69.33 points or 0.12 percent and closed at 58247.09 while Nifty was up by 24.70 points or 0.14 percent and finished at 17380. The Bank Nifty on the spot price also gained 141.25 points or 0.39 percent and ended at 36613.05 levels.
The broader markets also closed higher and the Nifty midcap index outperformed the benchmark indices. The Nifty midcap index gained 398.20 points or 1.35 percent and closed at 29871.65 levels. The Nifty smallcap index was up by 30.95 points or 0.29 percent and ended at 10775.90 levels.
The top five gainers in the Nifty 50 index were IndusInd Bank, HCL Tech, Hero Motor Corp, Adani Ports, and Tata Motors. The top five losers in the Nifty 50 index were Ultratech Cement, HDFC, BPCL, Nestle India, and Tata Steel.
The most active stocks in terms of value were Reliance, Infosys, and Tata Steel, The most active stocks in terms of volume were Tata Motors, ITC, and ONGC.
On a sectoral front, Automobiles, Capital Goods, Infrastructure, IT & Software, Banking and Healthcare sectors closed higher today. On the losing side, the Finance, FMCG, Metals, and Construction Materials sectors closed in the red today.
Nifty and Nifty Bank futures price movement for 14 Sept (Sept Expiry)
The Nifty futures price opened at 17410 and made a positive opening of 50.7 points. It has touched an intraday high at 17434.70 and a day’s low at 17368.70
The Nifty futures price has given a movement of 66 points today. In the end, it gained by 27.70 points or 0.16 percent and ended at 17387 levels.
The Bank Nifty futures opened at 36701. It made a positive opening of 124.45 points today. It has touched an intraday high at 36839 and a day’s low at 36616.20
During the day, the Bank Nifty in futures has given a movement of 222.8 points. In the end, it closed higher by 133.45 points or 0.36 points and closed at 36710 levels
Nifty & Bank Nifty Prediction for Tomorrow, 15 Sept 2021 (Sept Expiry)
Nifty Futures Prediction for Tomorrow, 15 Sept 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17430 whereas All Down Moves Initiates Short Covering (Buy) @ 17340
If the Nifty futures share price Moves Above 17409 and sustain. Then you should Buy with 1st Target of 17429 during the day with a Stop Loss of 17362 FOR the Target of 17429-17452- 17470
If the Nifty futures share price Moves Below 17362 and is sustained. Then you should Sell with the 1st Target of 17348 during the day with a Stop Loss of 17409. FOR the Target of 17348- 17324-172303
Bank Nifty Futures Prediction for Tomorrow, 15 Sept 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36850, whereas All Down Moves Initiates Short Covering (Buy) @ 36650
Suppose the Bank Nifty futures Moves Above 36760 and sustain, then you should Buy with the 1st Target of 36830 during the day with a Stop Loss of 36590. FOR the Target of 36830 – 36940 – 37020
If the Bank Nifty futures Moves Below 36590 and sustain, then you should Sell with the 1st Target of 36525 during the day with a Stop Loss of 36760. FOR the Target of 36525 – 36435 – 36380
Global markets today
On the global front, Asian markets were closed mixed on Tuesday as investors are waiting for US inflation data for more clarity on when the Federal Reserve will taper stimulus. Whereas Chinese markets fell due to fresh school-based Covid outbreaks in Fujian. European markets are mostly trading in the red as investors eyed the release of US inflation data later today. The US futures, Dow, and Nasdaq futures are trading almost flat at this moment at 5 pm IST.
Conclusions
Indian stock markets opened higher in the morning due to positive global market cues and ease in CPI-based inflation at 5.3%. The markets traded in a narrow range and closed marginally higher today. The benchmark indices trimmed their early gains in the afternoon session as India’s WPI inflation rose 11.39% YoY in August 2021 compared with 0.41% in August 2020. Going ahead, tomorrow, Indian markets will open as per the global cues.
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Also read, Trading Strategy- Nifty, Bank Nifty for (13 -17 Sept 2021)
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