Nifty and Bank Nifty Prediction for Tomorrow 26 April 2023
Nifty and Bank Nifty Prediction for Tomorrow 26 April 2023: Indian equity market indices closed marginally higher amid volatility on Tuesday. The market sentiments were positive despite weak global cues, While the upside remains capped as foreign investors are persistently selling in the domestic markets.
The market breadth was positive today. On NSE, 1022 shares were advanced while 904 shares declined. Among the sectors Nifty PSU Banks, Energy, and Metals were in demand while selling pressure was witnessed in Media, Fin Services, and IT sectors.
The broader markets closed mixed, as the Nifty midcap index declined 0.09 percent while smallcap index ended higher by 0.51 percent. At the close, Sensex and Nifty added 0.12 percent and 0.15 percent on Tuesday. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 25 April
The Nifty futures price on Monday opened at 17776.10, making a positive opening of 12.2 points today. It has touched an intraday high of 17822.70 and a day’s low of 17732.30
The Nifty futures price has given a movement of 90.4 points today. In the end, it closed higher by 12.10 points or 0.07 percent and ended at 17776 levels.
The Bank Nifty futures on Monday opened at 42700.50 It made a positive opening of 48.15 points today. The Bank Nifty futures touched an intraday high at 42852 and a day’s low at 42615
During the day, the Bank Nifty futures have given a movement of 237 points. In the end, it closed higher by 7.05 points or 0.02 percent and closed at 42659.40 levels.
Nifty & Bank Nifty Prediction for Tomorrow 26 April 2023
Nifty Futures Prediction for Tomorrow 26 April 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17900 whereas All Down Moves Initiates Short Covering (Buy) @ 17700
If the Nifty futures (April Series) share price Moves Above 17805 and sustains. Then you should Buy with the 1st Target of 17837 during the day with a Stop Loss of 17770 FOR the Target of 17837- 17874- 17902- 17935
If the Nifty futures (April Series) share price Moves Below 17738 and is sustained. Then you should Sell with the 1st Target of 17714 for the day with a Stop Loss of 17760. For the Target of 17714- 17667- 17645- 17618
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Bank Nifty Futures Prediction for Tomorrow 26 April 2023
Primary Trend in Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42950 whereas All Down Moves Initiates Short Covering (Buy) @ 42600
Suppose the Bank Nifty futures (April Series) Moves Above 42780 and sustain, then you should Buy with the 1st Target of 42852 during the day with a Stop Loss of 42650 and the Target of 42852- 42920- 42985- 43060
If the Bank Nifty futures (April Series) Moves Below 42525 and sustain, then you should Sell with the 1st Target of 42450 the day with a Stop Loss of 42605. For the Target of 42450- 42380- 42315- 42250
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Global Stock Market Updates
On the global front, Asian market indexes were mostly closed lower on Tuesday following mixed cues from Wall Street overnight and ahead of big corporate earnings. Kospi declined 1.39% after South Korea announced that its GDP grew at 0.8% in the first quarter of 2023, slightly lower than the economists estimate.
Hang Seng index led the losses in Asia, sliding around 2% as investors remain cautious ahead of the US big tech stocks earnings. Hong Kong tech index tumble around 4%, as technology stocks led the losses on Tuesday. Nikkei trimmed early gains but closed in the green while Shanghai erased all early gains and closed in the red.
European stock markets are trading lower as investors remain sidelined and cautious ahead of big corporate earnings and economic data from the US. Investors also digested news that UK government borrowing had hit almost 100% of GDP.
The Dow and Nasdaq futures are trading lower at this moment ( 5 pm IST) indicating a negative opening for the US markets today.
Conclusion
The Indian stock markets traded in a narrow range and ended with minor gains. Investors remain cautious ahead of key economic data and big tech earnings from the US, as Alphabet and Microsoft will release earnings today. The domestic markets are expected to remain volatile in the next couple of sessions due to the monthly F&O expiry and global earnings and economic data. You can follow our Daily Morning Report at 7.30 am for market direction.
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