Nifty | Bank Nifty Prediction for Tomorrow 24 March 2022
Nifty and Bank Nifty Prediction for Tomorrow 24 March 2022: Indian equity markets opened higher on Wednesday amid positive cues from the global markets. The benchmark indices slipped after opening higher in the afternoon deal and traded below their neutral lines till the end. The markets were declined on the back of profit-booking in auto, financial, and banking stocks.
However, the metals and energy stocks tried to support the market but in the end, indexes closed in the red today. The broader markets were closed mixed today. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 23 March (March Expiry)
The Nifty futures price opened at 17447, making a positive opening of 84.2. points. It has touched an intraday high of 17464.40 and a day’s low of 17220.05
The Nifty futures price has given a movement of 244.35 points today. In the end, it closed lower by 107.15 points or 0.62 percent and ended at 17255.65 levels.
The Bank Nifty futures opened at 36820, It made a positive opening of 337.2 points. The Bank Nifty futures has touched an intraday high at 36858.50 and a day’s low at 36113.30
During the day, the Bank Nifty futures has given a movement of 745.2 points. In the end, it closed lower by 343.60 points or 0.94 percent and closed at 36139.20 levels.
Nifty & Bank Nifty Prediction for Tomorrow 24 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 24 March 2022
Primary Nifty Trend in futures: Mild Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17400 whereas All Down Moves Initiates Short Covering (Buy) @ 17200
If the Nifty futures share price Moves Above 17318 and sustain. Then you should Buy with 1st Target of 17360 during the day with a Stop Loss of 17290 FOR the Target of 17360- 17411 – 17455- 17485
If the Nifty futures share price Moves Below 17200 and is sustained. Then you should Sell with the 1st Target of 17160 for the day with a Stop Loss of 17235. FOR the Target of 17160-17124- 17075- 17040
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Bank Nifty Futures Prediction for Tomorrow 24 March 2022
Primary Trend of Bank Nifty Futures: Mild Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36500 whereas All Down Moves Initiates Short Covering (Buy) @35800
Suppose the Bank Nifty futures Moves Above 36324 and sustain, then you should Buy with the 1st Target of 36405 during the day with a Stop Loss of 36230 the Target of 36405- 36515- 36600- 36730
If the Bank Nifty futures Moves Below 35950 and sustain, then you should Sell with the 1st Target of 35800 the day with a Stop Loss of 36060. FOR the Target of 35800 – 35650 – 35555- 35480
Global Stock Markets today
On the global front, the other Asian market indexes closed in the green today tracking positive cues from Wall Street overnight. The technology shares surge after claims that Beijing will make concessions on auditing issues. Shanghai index gained as investors were expecting measures to stabilize the economy from the government, after a surge in domestic Covid-19 cases in the region. Nikkei has extended its gain for the seventh consecutive session following the positive cues from the US and cheaper yen
European markets are trading flat with slightly negative at this moment at 5 pm IST as investors monitored the war in Ukraine and digested the latest soaring UK inflation numbers. The US future indexes, Dow Jones and Nasdaq futures are trading in the red at this time,
Conclusion
Indian stock markets have seen profit booking at higher levels in the last couple of days. Traders remain cautious after the Fed chairman’s hawkish comment and higher US bond yields. Going ahead, the market trend is positive, markets may consolidate in the near term in absence of any major event or news.
Also read: Best Options Trading Books in India-Must Read 2021
Sensex, Nifty end lower, metal stocks shine, auto drag
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