Nifty and Bank Nifty Prediction for Tomorrow 18 Jan 2023
Nifty and Bank Nifty Prediction for Tomorrow 18 Jan 2023: Indian stock market indexes ended with strong gains on Tuesday amid mixed global cues. The equity benchmarks ended near the day’s high today on the back of buying in FMCG, Energy, and Realty stocks while some selling pressure was witnessed in the PSU Banks, Media, and Consumer Durables.
The broader markets underperformed the frontline indexes today, as Nifty mid and smallcap indexes closed lower by 0.11 percent and 0.04 percent respectively. At the close, the Sensex and Nifty ended near the day’s high by 0.94 percent and 0.89 percent respectively. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 17 Jan
The Nifty futures price opened at 17916.25 making a negative opening of 25.5 points today. It has touched an intraday high of 18103.90 and a day’s low of 17916.25
The Nifty futures price has given a movement of 187.65 points today. In the end, it closed higher by 150.75 points or 0.84 percent and ended at 18092.50 levels.
The Bank Nifty futures opened at 42205 It made a negative opening of 96.25 points. The Bank Nifty futures touched an intraday high at 42489.80 and a day’s low at 41972.90
During the day, the Bank Nifty futures have given a movement of 516.9 points. In the end, it closed higher by 78.75 points or 0.19 percent and closed at 42380 levels.
Nifty & Bank Nifty Prediction for Tomorrow 18 Jan 2023 (Jan Expiry)
Nifty Futures Prediction for Tomorrow 18 Jan 2023
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18200 whereas All Down Moves Initiates Short Covering (Buy) @ 17950
If the Nifty futures share price Moves Above 18115 and sustain. Then you should Buy with the 1st Target of 18142 during the day with a Stop Loss of 18070 FOR the Target of 18142- 18168- 18192- 18225
If the Nifty futures (Jan Series) share price Moves Below 18020 and is sustained. Then you should Sell with the 1st Target of 17985 for the day with a Stop Loss of 18056. For the Target of 17985- 17955- 17927- 17890
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Bank Nifty Futures Prediction for Tomorrow 18 Jan 2023
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42650 whereas All Down Moves Initiates Short Covering (Buy) @ 42150
Suppose the Bank Nifty futures (Jan Series) Moves Above 42550 and sustain, then you should Buy with the 1st Target of 42670 during the day with a Stop Loss of 42430 and the Target of 42670- 42800 – 42910- 43020
If the Bank Nifty futures (Jan Series) Moves Below 42220 and sustain, then you should Sell with the 1st Target of 42130 the day with a Stop Loss of 42350. For the Target of 42130- 42020- 41910- 41820
Global Stock Market Updates
Asian stock market indexes mostly closed in the red on Tuesday as investors worried about China’s GDP growth. The world’s second-largest economy posted one of its worst growth figures in decades. Global equities have enjoyed a rally so far in 2023, fuelled by hopes of a rebound in China’s economy after it relaxed its strict Covid curbs. But the latest Chinese data showed that the world’s second-biggest economy grew 2.9% in the fourth quarter of last year, beating expectations but far below the official target.
The key Asian market indexes Shanghai and Hang Seng fell after China’s released economic data while Nikkei closed higher on Tuesday. Japan’s Nikkei ended higher, rebounding from two straight sessions of heavy losses, as the yen’s relentless rise paused ahead of a crucial Bank of Japan (BOJ) policy decision.
European stock markets are trading slightly lower at 5 pm IST as investors are concerned about Chinese weak economic data released on Tuesday. Meanwhile, UK job data showed that the unemployment rate ticked up to 3.7% in the three months to November, from 3.5% in the previous quarter. The US future indexes, Dow and Nasdaq futures are trading slightly lower at this time indicating a negative opening for the US markets after a long weekend.
Conclusion
Indian stock markets rallied in the second half today and ended on a positive note. Technically, markets are looking slightly positive, we may see further up move in the markets. You can also follow our Daily Morning Report at 7.30 am for market direction.
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