Nifty and Bank Nifty Prediction for Tomorrow 23 June 2022
Nifty and Bank Nifty Prediction for Tomorrow 23 June 2022: Indian equity markets opened lower on Wednesday amid weak cues from Asian markets. The markets traded lower throughout the day and extended their early losses on account of selling in Metals, Media, and Oil Gas stocks. The market sentiments were downbeat due to persistent worries about high inflation after the latest data shows that UK’s CPI inflation climbed to a fresh 40-year high in May.
The broader markets also witnessed the selling pressure, as the Nifty midcap and smallcap index fell in line with their larger peers. In the end, the benchmark indices fell more than 1 percent today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for June 22 (June Expiry)
The Nifty futures price opened at 15551, making a negative opening of 87.4 points. It has touched an intraday high of 15558 and a day’s low of 15357.25
The Nifty futures price has given a movement of 200.75 points today. In the end, it closed lower by 237.40 points or 1.52 percent and ended at 15401 levels.
The Bank Nifty futures opened at 33050 It made a negative opening of 188.9 points. The Bank Nifty futures has touched an intraday high at 33099.95 and a day’s low at 32750
During the day, the Bank Nifty futures has given a movement of 349.95 points. In the end, it closed lower by 433.90 points or 1.31 percent and closed at 32805 levels.
Nifty & Bank Nifty Prediction for Tomorrow 23 June 2022 ( June Expiry)
Nifty Futures Prediction for Tomorrow 23 June 2022
Primary Nifty Trend in futures: Negative with Cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15500 whereas All Down Moves Initiates Short Covering (Buy) @ 15200
If the Nifty futures share price Moves Above 15465 and sustain. Then you should Buy with 1st Target of 15504 during the day with a Stop Loss of 15415 FOR the Target of 15504- 15527- 15572- 15630
If the Nifty futures share price Moves Below 15348 and is sustained. Then you should Sell with the 1st Target of 15312 for the day with a Stop Loss of 15385. FOR the Target of 15312- 15290- 15257- 15205
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Bank Nifty Futures Prediction for Tomorrow 23 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) @ 32950 whereas All Down Moves Initiates Short Covering (Buy) @ 32300
Suppose the Bank Nifty futures Moves Above 32935 and sustain, then you should Buy with the 1st Target of 33040 during the day with a Stop Loss of 32750 the Target of 33040- 33115- 33285- 33500
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 32710. FOR the Target of 32470 – 32335 – 32240 – 32150
Global Stock Markets Today
On the global front, the other Asian market indexes were closed lower on Wednesday as concerns about the gloomy economic outlook dominated the market mood. The Tech sector was among the biggest loser in Asian markets, with Hang Seng Tech Index plunging more than 4% on the potential banning of third-party Pharma e-com platforms from online drug sales. Nikkei gave up early gains and closed lower today.
European markets are trading in the red as UK’s CPI inflation climbed fresh 40 years high as energy and food prices continued to surge. The US futures Dow Jones and Nasdaq futures are trading lower indicating a negative opening for the US markets today.
Conclusion
Indian markets gave up all previous session gains and closed in the red. The weak cues from the Asian and European markets dragged down the indexes. Traders were also cautious ahead of the US Fed Chair Jerome Powell’s Testimony scheduled later in the day. Tomorrow markets will open as per the global cues, traders should remain volatile.
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