Nifty | Bank Nifty Prediction for Tomorrow 17 Aug 2022
Nifty & Bank Nifty Prediction for Tomorrow 17 Aug 2022: Indian equity markets opened strong on Tuesday after a long weekend amid positive global cues. The market sentiments were upbeat as the country’s CPI and WPI inflation eased in July. The positive global cues and falling crude oil prices also supported the markets. The broader markets also participated in today’s rally, as Nifty mid and smallcap indexes gained 1.45 percent and 0.95 percent respectively.
Among sectors, barring Media and PSU Banks, all other sectoral indices closed in the green today, led by Auto, Realty, and FMCG. At the close, Sensex and Nifty gained 0.64 percent and 0.72 percent respectively, and closed on a positive note. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 16 Aug (Aug Expiry)
The Nifty futures price opened at 17895, making a positive opening of 181.95 points today. It has touched an intraday high of 17895 and a day’s low of 17780.20
The Nifty futures price has given a movement of 114.8 points today. In the end, it closed higher by 146.25 points or 0.83 percent and ended at 17859.30 levels.
The Bank Nifty futures opened at 39310.25 It made a positive opening of 232.55 points. The Bank Nifty futures has touched an intraday high at 39473 and a day’s low at 39155
During the day, the Bank Nifty futures has given a movement of 318 points. In the end, it closed higher by 247.30 points or 0.63 percent and closed at 39325 levels.
Nifty & Bank Nifty Prediction for 17 Aug 2022 (Aug Expiry)
Nifty Futures Prediction for Tomorrow 17 August 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17970 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
If the Nifty futures share price Moves Above 17907 and sustain. Then you should Buy with 1st Target of 17938 during the day with a Stop Loss of 17875 FOR the Target of 17938- 17970- 17994
If the Nifty futures share price Moves Below 17814 and is sustained. Then you should Sell with the 1st Target of 17775 for the day with a Stop Loss of 17852. For the Target of 17775- 17738- 17706
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Bank Nifty Futures Prediction for Tomorrow 17 August 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39800 whereas All Down Moves Initiates Short Covering (Buy) @ 39200
Suppose the Bank Nifty futures Moves Above 39515 and sustain, then you should Buy with the 1st Target of 39620 during the day with a Stop Loss of 39360 and the Target of 39620- 39750- 39825
If the Bank Nifty futures Moves Below 39215 and sustain, then you should Sell with the 1st Target of 39130 the day with a Stop Loss of 39315. For the Target of 39130 – 39060 – 38930
Global Stock Markets Today
On the global front, the other Asian market indexes mostly closed in the green today following positive cues from Wall Street overnight. Investors worried about the global growth following weak Chinese data released on Monday, that hit oil prices and commodity-linked currencies.
Hang Seng and Shanghai failed to hold early gains on Tuesday, as China’s growth concerns remained after data showed economic activity and credit expansion slowed sharply in July. This has prompted the central bank to unexpected cut interest rates. Japan’s Nikkei index closed almost flat on Tuesday, as energy-related stocks weigh the most after worries about an economic slowdown in US and China.
European markets are trading higher on Tuesday as earnings boosted the market sentiments and rally in mining stocks. The US futures, Dow, and Nasdaq futures are trading marginally lower at 5.30 pm IST.
Conclusion
Indian markets started the holiday-shortened week on a positive note. The positive global cues, strong FIIs inflow, ease in inflationary pressure, and slide in the oil price were the factors that boosted the market sentiments today. Going ahead, the domestic markets are looking positive, traders should trade with a stop loss to avoid risk.
Also read: Hedging: Meaning, Risk, Strategies, and types of Hedge
Tradingview India Review 2022- You Must Read
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