Nifty | Bank Nifty futures prediction for Monday, 27 Sept
Nifty and Bank Nifty futures prediction for Monday, 27 Sept: Indian stock markets finished higher during the week ended 24 September. Markets started with a sharp sell-off on Monday due to weak global cues and later rebounded and erased all early weekly losses. On Friday, Sensex and Nifty touched a fresh record high. Benchmark indices trimmed their intraday gains on Friday and closed marginally higher. Bank Nifty index closed marginally higher on spot levels but in the futures, Nifty closed slightly higher whereas Bank Nifty ended in the red.
Nifty and Nifty Bank futures price movement on 24 Sept (Sept Expiry)
The Nifty futures made a positive opening at 17894.95 levels, up by 61.85 points on Friday morning. It has touched an intraday high at 17935 and a day’s low at 17820
The Nifty futures has given a movement of 115 points on Friday. In the end, it gained 15.70 points or 0.09 percent and ended at 17848.80 levels.
The Bank Nifty futures opened at 38051.50 levels on the last day of the week. It made a positive opening of 190.45 points on Friday. It has touched an intraday high at 38174.90 and a day’s low at 37720
On Friday, the Bank Nifty in futures has given a movement of 454.9 points. In the end, it declined by 41.60 points or 0.11 points and closed at 37819.45 levels
Nifty & Bank Nifty Prediction for Monday, 27 Sept 2021 (Sept Expiry)
Nifty Futures Prediction for Monday, 27 Sept 2021
Primary Nifty Trend in futures: Positive & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17930 whereas All Down Moves Initiates Short Covering (Buy) @ 17770
If the Nifty futures share price Moves Above 17888 and sustain. Then you should Buy with 1st Target of 17927 during the day with a Stop Loss of 17838 FOR the Target of 17927-17949- 17978
If the Nifty futures share price Moves Below 17824 and is sustained. Then you should Sell with the 1st Target of 17802 during the day with a Stop Loss of 17858. FOR the Target of 17802- 17776-17754
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Bank Nifty Futures Prediction for Monday, 27 Sept 2021
Primary Trend of Bank Nifty Futures: Positive & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38100, whereas All Down Moves Initiates Short Covering (Buy) @ 37650
Suppose the Bank Nifty futures Moves Above 37935 and sustain, then you should Buy with the 1st Target of 37997 during the day with a Stop Loss of 37830. FOR the Target of 37997 – 38089 – 38224
If the Bank Nifty futures Moves Below 37700 and sustain, then you should Sell with the 1st Target of 37630 during the day with a Stop Loss of 37760. FOR the Target of 37630 – 37540 – 37430
Global market indexes
European markets closed in the red on Friday due to the lingering worries about China’s property developer Evergrande. The global bondholders did not receive the interest payment from Evergrande’s Group which was due on Thursday. The German’s Ifo institute said problems in the procurement of raw materials and intermediate products are putting breaks in the German economy.
The US markets closed mixed on Friday, Dow Jones and S&P 500 closed higher despite uncertainty over the fate of debt crisis property giant China Evergrande group. The US market indexes, Dow and S&P 500 edged higher by 0.10 percent and 0.15 percent respectively whereas Nasdaq was down by 0.03 percent on Friday.
Conclusions
The global markets reacted in a mixed way after China’s Evergrande group missed the deadline for the interest payment on Thursday. Technically, the Nifty and Bank Nifty indexes are looking positive on Monday, but the Indian markets will follow the Asain market cues and open accordingly.
Traders should follow the Asain Markets updates on Monday morning on our website to find out the market trend just before the market gets open.
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Also read, Weekly Stock Market Indexes & Analysis (20 – 24 Sept)
Best Options Trading Books in India-Must Read 2021
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