Nifty and Bank Nifty Prediction for Tomorrow Sept 26, 2023
Nifty and Bank Nifty Prediction for Tomorrow Sept 26, 2023: Indian equity benchmarks ended the volatile session on a positive note on Monday, snapping the four-day losing streak. The domestic markets ended flat on a positive note despite weak global cues. Among the sectors, Realty, Financial Services, and Consumer Durables gained the most, while selling pressure was witnessed in the IT, Media, and Pharma sectors.
The market breadth was slightly negative, on the NSE, 963 shares were advanced while 1099 shares declined at the close. The NSE volatility index “India VIX” jumped 2.25 percent to 10.90 levels.
At the close, Sensex finished marginally higher by 14.54 points or 0.02 percent and ended at 66023.69 level, while Nifty closed flat to the positive and settled at 19674.55 levels. The broader markets gained, as the Nifty midcap index advanced 266.55 points or 0.66 percent and closed at 40405.70, while the Nifty smallcap index was slightly up by 5.30 points and ended at 12481.56 levels. You can read the detailed market updates here
Nifty and Bank Nifty Futures Price Movement for (28 Sept expiry)
The Nifty futures price opened at 19722.25, making a positive opening of 14 points on Monday. It has touched an intraday high of 19763 and a day’s low of 19626.25
The Nifty futures price has given a movement of 136.75 points. In the end, it closed edge lower by 3.50 points or 0.02 percent and ended at 19704.75 levels.
The Bank Nifty futures opened at 44680. It made a slight positive opening of 2.4 points. The Bank Nifty futures touched an intraday high at 44990.95 and a day’s low at 44469.
During the day, the Bank Nifty futures have given a movement of 521.95 points. In the end, it closed higher by 135.40 points or 0.30 percent and closed at 44813 levels.
Nifty & Bank Nifty Prediction for Tomorrow Sept 26, 2023
Nifty Futures Prediction for Tomorrow, Sept 26, 2023
Primary Trend in Nifty Futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves can initiate profit Booking @ 19800 whereas All Down Moves can Initiate Short Covering @ 19650
If Nifty futures for the Sept series move above 19735 and sustain. Then Nifty futures can touch 19764 during the day with a Stop Loss of 19710. In a day it could trade in a range of 19764- 19792- 19819 levels.
If the Nifty futures (Sept Series) share price Moves Below 19670 and is sustained. Then Nifty futures can touch 19638 levels for the day with a Stop Loss of 19692. In a day it could trade for the target of 19638- 19610 – 19590 level.
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Bank Nifty Futures Prediction for Tomorrow Sept 26, 2023
Primary Trend in Bank Nifty Futures- Negative
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 45100 whereas All Down Moves can Initiate Short Covering @ 44700
Suppose the Sept series Bank Nifty futures move above 44915 and sustain, then Banknifty can touch 45020 levels during the day with a Stop Loss of 44820. During the day Bank Nifty futures could trade in the range of 45020- 45130- 45240 levels.
If the Bank Nifty futures (Sept Series) move below 44650 and sustain, then Banknifty can touch 44570 levels in a day with a Stop Loss of 44730. During the day Bank Nifty futures could trade in the range of 44570- 44480- 44365 levels.
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Global Stock Market Updates
The other Asian stock market indexes mostly ended in the red on Monday, as investors were cautious ahead to the key economic data across the region later this week. Investors were discouraged by the hawkish stance of Central Banks last week, as global interest rates remained high for longer than expected and by China’s continuing economic struggles.
Japan’s Nikkei ended higher, as investors bought back the recent beaten-down stocks. South Korea’s Kospi extended its early losses and ended lower. Australia’s S&P/ASX 200 reversed its early losses and marginally gained.
Shanghai and Hang Seng extended their early losses and ended lower, as tech and property sectors dragged the indices after China’s Evergrande plunged 25 percent after it said unable to complete a plan to restructure. Elsewhere, Straits Times and Taiwan closed higher, while SET Composite and Jakarta ended lower on Monday.
European markets are trading lower on Monday, as investors worried about China’s troubled property sector while rising crude oil prices also weighed on market sentiments. Germany’s weak economic data also hit the market sentiments, the fresh data showed business morale deteriorated in September, falling for the fifth month in a row, according to the Ifo Institute’s business climate index,
The US futures reversed their early positions and turned negative in the afternoon session. At 5.30 pm IST, Dow and Nasdaq futures are trading marginally lower, indicating a negative opening for the US markets today. You can also follow our US markets Report at 10 PM IST.
Conclusion
The Indian stock markets started the week on a muted note, as indices ended unchanged. The domestic markets took a pause after heavy selling in the last week. We may also see a relief rally in the coming days, as markets are in oversold positions. You can follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Stocks in News Today: Bajaj Finance, JSW Steel, Delta Corp, Zen Technology and More
Stock Market Prediction Next Week (25- 29 Sept 2023)
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