Nifty and Bank Nifty Prediction for Tomorrow 21 June 2023
Nifty and Bank Nifty Prediction for Tomorrow 21 June 2023: Indian equity markets closed higher after a volatile session on Tuesday. The market sentiments were subdued in the morning deals, due to negative global cues. However, buying was witnessed in the second half as investors preferred to buy the recently beaten-down stocks at a lower price. Among the sectors, IT, Auto, and Metal stocks were top performers while Media and Pharma stocks witnessed some selling pressure.
The market breadth was positive, on NSE 1166 shares were advanced while 887 shares declined on Tuesday. The broader markets outperformed their larger peers, as Nifty mid and smallcap indexes gained 0.49 percent and 0.52 percent respectively. At the close, Sensex and Nifty advanced 0.25 percent and 0.33 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 20 June
The Nifty futures price opened at 18819.75, making a lower opening of 20.45 points on Tuesday. It has touched an intraday high of 18883 and a day’s low of 18712.30
The Nifty futures price has given a movement of 170.7 points. In the end, it closed higher by 39.55 points or 0.21 percent and ended at 18879.75 levels.
The Bank Nifty futures opened at 43750 It made a negative opening of only 38.1 points. The Bank Nifty futures touched an intraday high at 43914.95 and a day’s low at 43450.05
During the day, the Bank Nifty futures have given a movement of 464.9 points. In the end, it closed higher by 91.90 points or 0.21 percent and closed at 43880 levels.
Nifty & Bank Nifty Prediction for Tomorrow 21 June 2023
Nifty Futures Prediction for Tomorrow 21 June 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves can Initiates Profit Booking @ 18980 whereas All Down Moves can Initiate Short Covering @ 18830
If the Nifty futures Moves Above 18895 and sustains. Then Nifty futures can hit a 1st Target of 18927 during the day with a Stop Loss of 18870. In a day it could trade for the target of 18927- 18954- 18985 levels.
If the Nifty futures (June Series) share price Moves Below 18800 and is sustained. Then Nifty futures can see a 1st Target of 18770 levels for the day with a Stop Loss of 18835 In a day it could trade for the target of 18770- 18735 – 18685 levels.
If you want Live trading views for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 21 June 2023
Primary Trend in Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 44150 whereas All Down Moves can Initiate Short Covering @ 43700
Suppose the Bank Nifty futures Moves Above 44040 and sustain, then you could see a 1st Target of 44130 during the day with a Stop Loss of 43940. During the day Bank Nifty futures could trade for the target of 44130- 44220- 44315
If the Bank Nifty futures (June Series) Moves Below 43650 and sustain, then you could see a 1st Target of 43570 levels in a day with a Stop Loss of 43760. During the day Bank Nifty futures could trade for the target of 43570- 43450- 43380
Note:-With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy absolutely Free at Upstox. Click here to Open Free Trading and Demat Account and get Life Time Demat AMC Free and Rs 20 flat Brokerage.
Global Stock Market Updates
Asian stock market indexes mostly closed lower on Tuesday. China’s central bank cut the loan prime rates for 1 year & 5- years by 10 bps for the first time since August 2022. The market sentiment was hit as the 10 bps cut for 5yrs was small than many had expected.
Nikkei traded volatile, erased early losses, and managed to close slightly higher on Tuesday due to a weaker yen that boosted exporter’s sentiments. South Korea’s Kospi extended its previous day’s losses. Hang Seng fell the most in the region, due to a sharp decline in healthcare and tech stocks followed by property and energy stocks. Shanghai and other key indexes in the region like Straits Times, Taiwan, and Set Composite all closed lower today.
European stock markets are trading lower as investors digested China’s central bank’s decision to cut the loan prime rate. Investors remain cautious ahead of the UK’s inflation data which is due on Wednesday and the Bank of England Monetary policy on Thursday. The US future indexes, Dow and Nasdaq futures are trading lower indicating a lower opening for the US markets after the long weekend.
Conclusion
The domestic equity markets made a smart recovery in the second half on Tuesday and closed near the day’s high despite the weakness in the global markets. Indian markets are looking positive but traders should remain cautious tomorrow, as some volatility can be seen ahead of two days US Fed Chair Powell’s testimony, which will begin on Wednesday. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Stock Market Prediction Next Week (19- 23 June 2023)
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 21 June 2023” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
