Nifty and Bank Nifty Prediction for Tomorrow, 19 Oct 2021
Nifty and Bank Nifty Prediction for Tomorrow, 19 Oct 2021: Indian stock markets opened at a fresh record high on Monday after a long weekend despite negative cues from other Asian markets. The market gained with the support of heavy buying in Metals, PSU Bank, and Energy stocks. In the end, the benchmark indices, Sensex and Nifty closed at a new record high on Monday. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 18 October (Oct Expiry)
The Nifty futures price opened at 18456.25, making a positive opening of 101.25 points. It has touched an intraday high at 18543.25 and a day’s low at 18436.10
The Nifty futures price has given a movement of 107.15 points today. In the end, it gained 132.90 points or 0.72 percent and ended at 18487.90 levels.
The Bank Nifty futures opened at 39785. It made a positive opening of 382.65 points today. It has touched an intraday high at 40001.95 and a day’s low at 39612.20
During the day, the Bank Nifty in futures has given a movement of 389.75 points. In the end, it closed higher by 357.65 points or 0.91 percent and closed at 39760 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 19 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 19 Oct 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18530 whereas All Down Moves Initiates Short Covering (Buy) @ 18440
If the Nifty futures share price Moves Above 18530 and sustain. Then you should Buy with 1st Target of 18547 during the day with a Stop Loss of 18495 FOR the Target of 18547-18569- 18590
If the Nifty futures share price Moves Below 18445 and is sustained. Then you should Sell with the 1st Target of 18406 during the day with a Stop Loss of 18474. FOR the Target of 18406- 18360- 18332
Bank Nifty Futures Prediction for Tomorrow, 19 Oct 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40200, whereas All Down Moves Initiates Short Covering (Buy) @ 39600
Suppose the Bank Nifty futures Moves Above 39865 and sustain, then you should Buy with the 1st Target of 39980 during the day with a Stop Loss of 39750. FOR the Target of 39980 – 40180 – 40370
If the Bank Nifty futures Moves Below 39590 and sustain, then you should Sell with the 1st Target of 39440 during the day with a Stop Loss of 39680. FOR the Target of 39440 – 39360 – 39140
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Global markets today
On the global front, the Asian markets closed mixed on Monday. Shanghai closed lower as China’s GDP grew at the slowest pace in one year, GDP growth for the 3rd quarter came at 4.9% as compared to 7.9% in the previous quarter. Hang Seng closed higher with the support of energy and material stocks despite weak data released in China.
European markets are trading in the red on Monday as weak economic data from China fuelled worries about the pace of the post-pandemic recovery. The US futures indexes, Dow and Nasdaq futures are trading lower, which indicates US markets are going open in the red today.
Conclusions
Indian stock markets gained for the seventh consecutive day in a row. The benchmark indices closed at a record high today despite weak cues from other Asain markets. The domestic market sentiments were positive as the early data showed that the economy is bouncing back strongly. Investors are also expecting better Q2 corporate earnings. Going ahead, investors should remain cautious for mild correction as the market is overbought.
Also read, Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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