Nifty and Bank Nifty Prediction for Tomorrow 28 Feb 2023
Nifty and Bank Nifty Prediction for Tomorrow 28 Feb 2023: Indian equity market indexes closed lower for the seventh consecutive day on Monday. The market sentiments were dampened due to stronger-than-expected inflation in the US, the possibility of aggressive rates by the Fed, and FIIs outflow.
However, the last-hour relief rally in the markets trimmed some intraday losses. Among the sectors, realty, banking, and financials stocks witnessed some buying interest while media, metals, and IT stocks tumbled today.
The market breadth was quite negative today, The broader markets underperformed today, as Nifty mid and smallcap indexes ended lower by 0.69 percent and 1.12 percent respectively. At the close, Nifty and Sensex were down by 0.42 percent and 0.30 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 27 Feb
The Nifty futures price opened at 17505 making a negative opening of 54.25 points today. It has touched an intraday high of 17554.75 and a day’s low of 17392.20
The Nifty futures price has given a movement of 162.55 points today. In the end, it closed lower by 50.25 points or 0.29 percent and ended at 17509 levels.
The Bank Nifty futures opened at 40075.05 It made a negative opening of 96.95 points today. The Bank Nifty futures touched an intraday high at 40600 and a day’s low at 39982.45
During the day, the Bank Nifty futures have given a movement of 617.55 points. In the end, it closed higher by 428 points or 1.07 percent and closed at 40600 levels.
Nifty & Bank Nifty Prediction for Tomorrow 28 Feb 2023 (March Expiry)
Nifty Futures Prediction for Tomorrow 28 Feb 2023
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17640 whereas All Down Moves Initiates Short Covering (Buy) @ 17400
If the Nifty futures (March Series) share price Moves Above 17556 and sustains. Then you should Buy with the 1st Target of 17594 during the day with a Stop Loss of 17524 FOR the Target of 17594- 17638- 17662- 17700
If the Nifty futures (March Series) share price Moves Below 17480 and is sustained. Then you should Sell with the 1st Target of 17458 for the day with a Stop Loss of 17509. For the Target of 17458- 17425- 17396- 17358
If you want Live Trading calls 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 28 Feb 2023
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40950 whereas All Down Moves Initiates Short Covering (Buy) @ 40500
Suppose the Bank Nifty futures (March Series) Moves Above 40735 and sustain, then you should Buy with the 1st Target of 40930 during the day with a Stop Loss of 40570 and the Target of 40930- 41040- 41138- 41252
If the Bank Nifty futures (March Series) Moves Below 40440 and sustain, then you should Sell with the 1st Target of 40360 the day with a Stop Loss of 40525. For the Target of 40360- 40250- 40140- 40050
Global Stock Market Updates
On the global front, The other Asian stock market indexes closed lower on Monday after stocks in the US markets ended their worst week for 2023 on Friday and on US-China tension. The risk-takers stayed on the sidelines with strong economic data out of the United States set to force the US Fed to hike interest rates for a longer period to tame inflation.
Japan’s Nikkei closed slightly lower, as the Bank of Japan governor nominee Kazuo Ueda spoke to the country’s upper house on Monday. Technology and Chip making stocks were the biggest losers in Japan.
China and Hong Kong stocks finished lower due to rising tension between China-US, while investors also awaited policy signals from the upcoming National People’s Congress.
European stock markets are trading higher on Monday after the worst week of the year. The key indexes are trading higher despite the negative cues from US and Asian market peers, as investors bet on the recently beaten-down tech stocks. The US futures indexes, Dow, and Nasdaq futures are trading higher indicating a positive opening for the US markets.
Conclusion
Indian stock markets started the week on a negative note on Monday. The weak global cues dampened the domestic market sentiments today. However, the last our relief rally trimmed some intraday losses and raised hope for a further up move on Tuesday. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Stock Market Books You Must Read-2023
Algo Trading Definition: Pros and Cons of Algorithmic trading
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 28 Feb 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.
