Nifty and Bank Nifty Prediction for Tomorrow 20 April 2022
Nifty and Bank Nifty Prediction for Tomorrow 20 April 2022: Indian equity markets opened higher on Tuesday amid positive cues from the other Asian market peers. The indices were trading flat to the positive note in the morning deal.
Markets witnessed heavy selling pressure in the last hour. The key indexes erased all intraday gains and closed in the red on the back of selling in Realty, IT, and the Financial stocks, barring Oil & Gas all other sectoral indices closed in the red today. The broader markets also closed in the red in line with their larger peers. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 19 April (April Expiry)
The Nifty futures price opened at 17275, making a positive opening of 45.4 points. It has touched an intraday high of 17314 and a day’s low of 16843.30
The Nifty futures price has given a movement of 470.7 points today. In the end, it closed lower by 318.70 points or 1.85 percent and ended at 16910.90 levels.
The Bank Nifty futures opened at 36990, It made a positive opening of 83.65 points. The Bank Nifty futures has touched an intraday high at 37229.35 and a day’s low at 35970.15.
During the day, the Bank Nifty futures has given a movement of 1259.2 points. In the end, it closed lower by 807.40 points or 2.19 percent and closed at 36098.95 levels.
Nifty & Bank Nifty Prediction for Tomorrow 20 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 20 April 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16950 whereas All Down Moves Initiates Short Covering (Buy) @ 16700
If the Nifty futures share price Moves Above 16954 and sustain. Then you should Buy with 1st Target of 16985 during the day with a Stop Loss of 16930 FOR the Target of 16985- 17020 – 17050- 17090
If the Nifty futures share price Moves Below 16862 and is sustained. Then you should Sell with the 1st Target of 16838 for the day with a Stop Loss of 16905. FOR the Target of 16838-16780- 16736- 16708
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Bank Nifty Futures Prediction for Tomorrow 20 April 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36200 whereas All Down Moves Initiates Short Covering (Buy) @ 35400
Suppose the Bank Nifty futures Moves Above 36310 and sustain, then you should Buy with the 1st Target of 36430 during the day with a Stop Loss of 36180 the Target of 36430- 36550- 36650- 36780
If the Bank Nifty futures Moves Below 35920 and sustain, then you should Sell with the 1st Target of 35715 the day with a Stop Loss of 36065. FOR the Target of 35715 – 35530 – 35410- 35305
Global Stock Markets today
On the global front, Asian markets closed mostly in the green on Tuesday. Hang Seng fell sharply today due to growing concerns and worries over the continuing impact of Bejing’s regulatory restrictions on tech companies. China’s Shanghai also closed marginally lower due to profit booking in healthcare and semiconductor stocks.
European market indexes trimmed their early losses at this time at 5.30 PM IST as investors are cautious and waiting for quarterly earnings that will help them to assess the impact of the Ukraine war and a surge in inflation on the company’s financials. The US future indexes, Dow, and Nasdaq futures are trading marginally lower at this time.
Conclusion
Indian markets opened higher and traded positively for the most part of the session today. The last hour’s selloff in the markets erased all intraday gains and drag the markets. The selloff in the markets was due to Russia’s latest assault on Ukraine and weak cues from the European markets. Going ahead, Indian markets will remain volatile due to geopolitical crisis, inflation worries, US Fed monetary policy tightening, and concerns about increasing covid cases, traders should remain cautious.
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