Nifty | Bank Nifty Prediction for Tomorrow, 28 Jan 2022
Nifty and Bank Nifty Prediction for Tomorrow, 28 Jan 2022: Indian equity markets opened gap-down on Thursday tracking negative cues from Wall Street overnight. The hawkish comments from the US Federal Reserve, which indicate the interest rate hike from March hit the global market sentiments today. Other Asian markets closed in the deep red and European markets are trading mixed at this time at 5.30 pm IST.
The broader markets were also closed in the red today, in line with their larger peers. Among the sectors, IT, Pharma, and Realty fell the most today. In the end, markets trimmed their early losses and closed one percent lower today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 27 Jan (Jan Expiry)
The Nifty futures price opened in 16995, making a gap-down opening of 288.45 points. It has touched an intraday high at 17174 and a day’s low at 16862
The Nifty futures price has given a movement of 312 points today. In the end, it declined 173.45 points or 1 percent and ended at 17110 levels.
The Bank Nifty futures opened at 37000, It made a gap down opening today, down by 720.50 points. The Bank Nifty futures has touched an intraday high at 38050 and a day’s low at 37000
During the day, the Bank Nifty futures has given a movement of 1050 points. In the end, it closed higher by 264.05 points or 0.70 percent and closed at 37984.55 levels.
Nifty & Bank Nifty Prediction for 28 Jan 2022 (Feb Expiry)
Nifty Futures prediction and Analysis for 28 Jan 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17300 whereas All Down Moves Initiates Short Covering (Buy) @ 17100
If the Nifty futures share price Moves Above 17212 and sustain. Then you should Buy with 1st Target of 17256 during the day with a Stop Loss of 17190 FOR the Target of 17256- 17275- 17309 – 17347
If the Nifty futures share price Moves Below 17152 and is sustained. Then you should Sell with the 1st Target of 17138 the day with a Stop Loss of 17170. FOR the Target of 17138- 17095- 17042- 17000
Bank Nifty Futures Prediction and Analysis for 28 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38800 whereas All Down Moves Initiates Short Covering (Buy) @ 38200
Suppose the Bank Nifty futures Moves Above 38415 and sustain, then you should Buy with the 1st Target of 38640 during the day with a Stop Loss of 38290 the Target of 38640 – 38745 – 38825- 38960
If the Bank Nifty futures Moves Below 38040 and sustain, then you should Sell with the 1st Target of 37930 during the day with a Stop Loss of 38185. FOR the Target of 37930 – 37800 – 37700- 37595
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Global stock markets today
On the global front, Asian markets were closed in the red today following the weakness in the US markets overnight. Traders were worried about the speed with which the Fed would move to lift interest rates and otherwise tighten monetary policy.
European markets are trading mostly in the red tracking losses on Wall Street after US Federal Reserve Chairman Jerome Powell signaled a March interest rate hike and more policy tightening in order to control rising inflation. The US future indexes, Dow Jones and Nasdaq futures are trading almost flat at 5.30 pm IST.
Conclusion
Indian stock markets ended a volatile session after the Fed indication of a rate hike in March to control rising inflation. The US bond yields also surged after Fed’s announcement. FII’s heavy selling in the equity markets also affected the market sentiments today. Going forward, the Indian markets are likely to focus on the Budget scheduled for 1st February 2022.
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