Nifty and Bank Nifty Prediction for Tomorrow 18 Aug 2022
Nifty and Bank Nifty Prediction for Tomorrow 18 Aug 2022: Indian equity markets opened higher on Wednesday amid positive global cues. The key indices, Sensex and Nifty traded in fine fettle and gradually moved in the northward direction. Barring auto, almost all sectoral indices participated in today’s rally.
Sensex reclaims 60K marks while Nifty gained 119 points today on the back of buying in PSU Banks, Media, and IT stocks. In the end, the benchmark indices closed near the day’s high today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 17 Aug (Aug Expiry)
The Nifty futures price opened at 17898.40, making a positive opening of 47.75 points today. It has touched an intraday high of 17992.30 and a day’s low of 17867.90
The Nifty futures price has given a movement of 124.4 points today. In the end, it closed higher by 114.80 points or 0.64 percent and ended at 17965.45 levels.
The Bank Nifty futures opened at 39427 It made a positive opening of 119 points. The Bank Nifty futures has touched an intraday high at 39548.90 and a day’s low at 39260
During the day, the Bank Nifty futures has given a movement of 288.9 points. In the end, it closed higher by 191.30 points or 0.49 percent and closed at 39499.95 levels.
Nifty & Bank Nifty Prediction for Tomorrow 18 Aug 2022 (Aug Expiry)
Nifty Futures Prediction for Tomorrow 18 Aug 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18100 whereas All Down Moves Initiates Short Covering (Buy) @ 17900
If the Nifty futures share price Moves Above 18005 and sustain. Then you should Buy with 1st Target of 18031 during the day with a Stop Loss of 17970 FOR the Target of 18031- 18054- 18106
If the Nifty futures share price Moves Below 17924 and is sustained. Then you should Sell with the 1st Target of 17896 for the day with a Stop Loss of 17956. For the Target of 17896- 17870- 17838
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Bank Nifty Futures Prediction for Tomorrow 18 Aug 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) @ 39300
Suppose the Bank Nifty futures Moves Above 39625 and sustain, then you should Buy with the 1st Target of 39715 during the day with a Stop Loss of 39470 and the Target of 39715- 39810- 39930
If the Bank Nifty futures Moves Below 39300 and sustain, then you should Sell with the 1st Target of 39185 the day with a Stop Loss of 39425. For the Target of 39185 – 39060 – 38930
Global Stock Markets today
On the global front, the other Asian market indexes mostly closed in the green today following the strong cues from Wall Street overnight. Japan’s Nikkei ended above 29000 for the first time in seven months. In China, some key indexes ended higher at multi-week highs, led by gains in developers on rising hopes that government will announce supportive measures to revive the property industry.
European markets are trading in the red on Wednesday as UK inflation had breached 10% market, and eurozone second-quarter growth was revised downwards slightly from earlier estimates. The US futures, Dow, and Nasdaq futures are trading lower at 5.30 pm IST, indicating a negative opening for the US markets today.
Conclusion
Indian stock market indexes ended higher on Wednesday. Sensex and Nifty continued their northward journey with the support of sustained buying by FIIs and a decline in oil prices. Sensex reclaims 60K today while Nifty is progressing towards its psychological mark of 18K. Technically, markets are looking bullish but traders should remain cautious, as we may see a profit booking or minor correction soon.
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