Nifty and Bank Nifty Prediction for Tomorrow 21 June 2022
Nifty and Bank Nifty Prediction for Tomorrow 21 June 2022: Indian equity markets opened marginally higher on Monday amid mixed global cues. The benchmark indices traded volatile in a narrow range and later closed in the green today. Among the sectors, FMCG, Financial Services, and IT sectors supported the market while Oil & Gas, Metals, and Media dragged.
The broader markets sharply corrected today, as Nifty midcap and smallcap indexes fell 2.06 percent and 3.01 percent respectively. At the close, the benchmark indices Sensex and Nifty gained almost half a percent each. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for June 20 (June Expiry)
The Nifty futures price opened at 15340, making a positive opening of 20.75 points. It has touched an intraday high of 15384 and a day’s low of 15202.30
The Nifty futures price has given a movement of 181.7 points today. In the end, it closed higher by 46.75 points or 0.31 percent and ended at 15366 levels.
The Bank Nifty futures opened at 32879.95 It made a negative opening of 97.05 points. The Bank Nifty futures has touched an intraday high at 32977 and a day’s low at 32447
During the day, the Bank Nifty futures has given a movement of 530 points. In the end, it closed lower by 58.80 points or 0.18 percent and closed at 32730.45 levels.
Nifty & Bank Nifty Prediction for Tomorrow 21 June 2022 (June Expiry)
Nifty Futures Prediction for Tomorrow 21 June 2022
Primary Nifty Trend in futures: Negative with Cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15450 whereas All Down Moves Initiates Short Covering (Buy) @ 15250
If the Nifty futures share price Moves Above 15415 and sustain. Then you should Buy with 1st Target of 15472 during the day with a Stop Loss of 15370 FOR the Target of 15472- 15518- 15550- 15585
If the Nifty futures share price Moves Below 15285 and is sustained. Then you should Sell with the 1st Target of 15258 for the day with a Stop Loss of 15330. FOR the Target of 15258- 15204- 15165- 15132
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Bank Nifty Futures Prediction for Tomorrow 21 June 2022
Primary Trend of Bank Nifty Futures: Negative with Cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33100 whereas All Down Moves Initiates Short Covering (Buy) @ 32400
Suppose the Bank Nifty futures Moves Above 32875 and sustain, then you should Buy with the 1st Target of 33030 during the day with a Stop Loss of 32700 the Target of 33030- 33155- 33370- 33590
If the Bank Nifty futures Moves Below 32600 and sustain, then you should Sell with the 1st Target of 32470 the day with a Stop Loss of 32815. FOR the Target of 32470 – 32285 – 32110 – 32040
Global Stock Markets today
On the global front, the other Asian market indexes mostly closed in a mixed state. The major indexes trimmed some early losses after China’s Central Bank had unchanged the lending rates, as some economic indicators show recovery after lifting the covid lockdowns. China’s Central Bank’s lending rate decision was in line with the market expectation.
European markets are trading higher on Monday after a sharp selloff in the previous week on recession worries. While French CAC was trading almost flat as President Emmanuel Macron lost an absolute majority in the country’s parliamentary election. The US markets are not trading today due to a holiday.
Conclusion
Indian stock markets snapped 6-day losing streak and closed higher on Monday. The markets gained with the support of positive global markets and buying in heavyweight stocks, while broader markets were sharply corrected today. Going ahead markets will remain cautious ahead of the US Fed’s Chair Testimony later this week, as the investors will be closely watching out to get the clues about interest rate hikes in the next Fed meeting.
Also read: Best Options Trading Books in India-Must Read 2021
Stock Market Prediction Next Week (20 – 24 June 2022)
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