Nifty and Bank Nifty Prediction for Friday 30 June 2023
Nifty and Bank Nifty Prediction for Friday 30 June 2023: Indian equity benchmarks ended with strong gains on Wednesday amid positive global cues. The key indices hit an all-time high on Wednesday afternoon, Sensex 64050.44, Nifty 19011.25, and Bank Nifty hit its fresh record high at 44508.40. Barring Media, all other sectoral indices in Nifty closed in the green, gains were led by Pharma, Metal, and Energy sectors.
Market breadth was once again strong on Wednesday. The broader markets also ended higher, as Nifty midcap was up by 0.35 percent while smallcap index gained 0.35 percent. At close Sensex and Nifty advanced 0.79 percent and 0.82 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for (28 June expiry)
The Nifty June futures price opened at 18850.50, making a slightly positive opening of 39.3 points on Tuesday. It has touched an intraday high of 19009.95 and a day’s low of 18845.35
The Nifty futures price has given a movement of 164.6 points. In the end, it closed higher by 164.25 points or 0.87 percent and ended at 18975.45 levels.
The Bank Nifty June futures opened at 44226.25 It made a positive opening of 136.8 points. The Bank Nifty futures touched an intraday high at 44520 and a day’s low at 44134.10
During the day, the Bank Nifty futures have given a movement of 385.9 points. In the end, it closed higher by 250.55 points or 0.57 percent and closed at 44340 levels.
Nifty & Bank Nifty Prediction for Tomorrow 30 June 2023
Nifty Futures Prediction for Tomorrow 30 June 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves can Initiates Profit Booking @ 19150 whereas All Down Moves can Initiate Short Covering @ 19000
The Nifty futures for the July series closed at 19082.35. If Nifty futures for the July series Moves Above 19092 and sustains. Then Nifty futures can hit a 1st Target of 19127 during the day with a Stop Loss of 19065. In a day it could trade for the target of 19127- 19154- 19176 levels.
If the Nifty futures (July Series) share price Moves Below 19012 and is sustained. Then Nifty futures can see a 1st Target of 18972 levels for the day with a Stop Loss of 19032 In a day it could trade for the target of 18972- 18950 – 18924 levels.
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Bank Nifty Futures Prediction for Tomorrow 30 June 2023
Primary Trend in Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 44700 whereas All Down Moves can Initiate Short Covering @ 44400
The Bank Nifty futures July series closed at 44484.40. Suppose the July series Bank Nifty futures Moves Above 44550 and sustain, then you could see a 1st Target of 44635 during the day with a Stop Loss of 44470. During the day Bank Nifty futures could trade for the target of 44635- 44710- 44800
If the Bank Nifty futures (July Series) Moves Below 44350 and sustain, then you could see a 1st Target of 44280 levels in a day with a Stop Loss of 44425. During the day Bank Nifty futures could trade for the target of 44280- 44200- 44090
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Global Stock Market Updates
Asian stock markets closed mixed on Wednesday, as investors were confused about which way to move, as there were threats of more US chip curbs on China on the other hand upbeat data from the US lifted the market mood. The lower-than-expected inflation data from Australia encouraged investors, while weak industrial profits figures from China dampen the sentiments.
Japan’s Nikkei gained the most in the region, surging around 2% due to a rally in tech stocks, following overnight gains in US peers. Nikkei rebounded on Wednesday, after four sessions of losses. Hang Seng erased early losses and closed slightly higher, while Shanghai ended almost flat on Wednesday. Kospi extended early losses and closed in the red.
European stock market indexes are trading higher following the positive cues from the US markets overnight due to strong economic data. Investor’s eyes are on the ECB’s central bank forum, where all central bank policymakers in Europe and US Fed Chair Powell and Bank of Japan Governor will deliver their speech today.
In the US future indexes, Dow Future is trading flat to positive while Nasdaq Future is trading lower at 5.30 pm IST, indicating a mixed opening for the US markets today.
Conclusion
The domestic market indices scaled a new high on the F&O expiry day. The market sentiments were upbeat due to positive global cues, FIIs turned buyers on Tuesday after selling for three consecutive sessions, and good progress in the monsoon. Tomorrow, the Indian stock markets will remain closed on account of Bakri Id. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Stock Market Prediction Next Week (26- 30 June 2023)
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