Nifty and Bank Nifty Prediction for Tomorrow 5 Jan 2023
Nifty and Bank Nifty Prediction for Tomorrow 5 Jan 2023: Indian equity markets ended with deep cuts on Wednesday amid volatility. The market sentiment was weak, as investors were cautious ahead of the minutes of FOMC’s latest meeting held in December. All sectoral indices closed in the red today with metals, realty, and PSU bank declining the most.
The market breadth was weak today. The broader markets also fell in line with their larger peers, as Nifty midcap and smallcap indices ended lower by 1.12 percent and 0.95 percent respectively. At the close, Sensex and Nifty declined by 1.04 each on Wednesday. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 4 Jan
The Nifty futures price opened at 18299 making a negative opening of only 18.3 points today. It has touched an intraday high of 18303.30 and a day’s low of 18083.20
The Nifty futures price has given a movement of 220.1 points today. In the end, it closed lower by 214.35 points or 1.17 percent and ended at 18102.95 levels.
The Bank Nifty futures opened at 43595.20 It made a flat to the negative opening of 14.1 points. The Bank Nifty futures touched an intraday high at 43710 and a day’s low at 43031
During the day, the Bank Nifty futures have given a movement of 679 points. In the end, it closed lower by 459.30 points or 1.05 percent and closed at 43150 levels.
Nifty & Bank Nifty Prediction for Tomorrow 5 Jan 2023 (Jan 23 Expiry)
Nifty Futures Prediction for Tomorrow 5 Jan 2023
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18200 whereas All Down Moves Initiates Short Covering (Buy) @ 18000
If the Nifty futures share price Moves Above 18158 and sustain. Then you should Buy with the 1st Target of 18204 during the day with a Stop Loss of 18130 FOR the Target of 18204- 18247- 18290-18330
If the Nifty futures (Jan Series) share price Moves Below 18080 and is sustained. Then you should Sell with the 1st Target of 18052 for the day with a Stop Loss of 18110. For the Target of 18052- 18018-17980-17900
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Bank Nifty Futures Prediction for Tomorrow 5 Jan 2023
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43400 whereas All Down Moves Initiates Short Covering (Buy) @ 42800
Suppose the Bank Nifty futures (Jan Series) Moves Above 43250 and sustain, then you should Buy with the 1st Target of 43340 during the day with a Stop Loss of 43120 and the Target of 43340- 43435 – 43510- 43610
If the Bank Nifty futures (Jan Series) Moves Below 42980 and sustain, then you should Sell with the 1st Target of 42915 the day with a Stop Loss of 43080. For the Target of 42915- 42805- 42680-42550
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Global Stock Market Updates
Asian stock market indexes closed mixed on Wednesday, as investors followed downbeat US markets overnight. On the other hand, hopes of an economic recovery in China after the rollback of its painful Covid curbs boosted market sentiments in China’s Shanghai and Hang Seng.
The investors in Japan returned from a long weekend today. Nikkei fell sharply on the first trading day of 2023 as investors worried about the minutes of FOMC’s December meeting.
European stock market indexes are trading higher as investors cheered a fall in French inflation and turned their attention to eurozone business activity readings along with the latest minutes from FOMC. The US future indexes, Dow Jones and Nasdaq futures are trading higher at 5.30 pm IST, indicating a positive opening for the US markets today.
Conclusion
The domestic equity benchmarks fell sharply amid weak global cues. Investors preferred to book profit ahead of the FOMC minutes and the US unemployment rate expected during the week.
Going ahead, markets will remain volatile in the coming two sessions, as the US markets will set the market direction based on the above two events. You can also follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
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