Nifty and Bank Nifty Prediction for Tomorrow 16 June 2022
Nifty and Bank Nifty Prediction for Tomorrow 16 June 2022: Indian stock market indexes opened flat on Wednesday amid mixed global market cues. The benchmark indices, Sensex and Nifty traded almost flat throughout the day, near their neutral lines. Traders were cautious and market volume was low ahead of the US Fed policy outcome, which is due later in the day.
Among the sectors, buying was witnessed in the Auto, Pharma, and the Financial Services while selling pressure was mainly in Energy, Metal, and Realty sectors. The broader markets outperformed the benchmarks today, as Nifty midcap and smallcap indexes closed higher. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for June 15 (June Expiry)
The Nifty futures price opened at 15739.75, making a flat opening of just 2.3 points higher. It has touched an intraday high of 15799 and a day’s low of 15691
The Nifty futures price has given a movement of 108 points today. In the end, it closed lower by 36.45 points or 0.23 percent and ended at 15701 levels.
The Bank Nifty futures opened at 33400 It made a positive opening of 22.95 points. The Bank Nifty futures has touched an intraday high at 33586.20 and a day’s low at 33301
During the day, the Bank Nifty futures has given a movement of 285.2 points. In the end, it closed higher by just 22.95 points or 0.07 percent and closed at 33400 levels.
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Nifty & Bank Nifty Prediction for Tomorrow 16 June 2022 (June Expiry)
Nifty Futures Prediction for Tomorrow 16 June 2022
Primary Nifty Futures Trend: Volatile & Cautious
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16950 whereas All Down Moves Initiates Short Covering (Buy) @ 15500
If the Nifty futures share price Moves Above 15766 and sustain. Then you should Buy with 1st Target of 15802 during the day with a Stop Loss of 15720 FOR the Target of 15802- 15844- 15915- 15970
If the Nifty futures share price Moves Below 15670 and is sustained. Then you should Sell with the 1st Target of 15622 for the day with a Stop Loss of 15696. FOR the Target of 15622- 15585- 15550- 15515
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Bank Nifty Futures Prediction for Tomorrow 16 June 2022
Primary Trend of Bank Nifty Futures: Volatile & Cautious
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33900 whereas All Down Moves Initiates Short Covering (Buy) @ 33000
Suppose the Bank Nifty futures Moves Above 33506 and sustain, then you should Buy with the 1st Target of 33590 during the day with a Stop Loss of 33320 the Target of 33590- 33724- 33860- 34105
If the Bank Nifty futures Moves Below 33220 and sustain, then you should Sell with the 1st Target of 33146 the day with a Stop Loss of 33285. FOR the Target of 33146 – 33020 – 32928 – 32760
Global Stock Markets today
On the global front, the other Asian markets closed mixed on Wednesday ahead of the US Fed policy outcome. Japan’s Nikkei extended losses for a fourth straight session as investors distracted ahead of US Fed’s interest rate decision.
China’s indexes gained after the economic data showed a surprising growth in industrial production in the month of May. The market sentiments got further boosted in China as investors are expecting further policy support from Beijing to fuel the economic growth that hit due to the pandemic.
European markets are trading higher on Wednesday after the news that the European Central Bank (ECB) will hold an unscheduled meeting on the recent bond market selloff ahead of the US rate hike decision. The US future indexes, Dow, and Nasdaq futures are trading higher at 5.30 pm IST.
Conclusion
Indian stock markets closed lower for the fourth straight session. The markets were trading cautiously ahead of the Fed’s policy outcome, which is expected later in the day. Tomorrow, Indian markets will open either gap-up or gap-down depending on the Fed’s policy outcome.
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Stock Market Prediction Next Week (13 – 17 June 2022)
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