Nifty and Bank Nifty Prediction for Tomorrow, 10 Oct 2023
Nifty and Bank Nifty Prediction for Tomorrow, 10 Oct 2023: The equity benchmarks snapped a two-day winning streak and closed lower on Monday as the Israel and Palestine war hit the market sentiments. The crude oil prices surged due to the fear of supply disruption. All sectoral indices ended in the red and the NSE volatility index “India VIX” jumped 10.68 percent to 11.40.
The market breadth was negative. The broader markets underperformed the benchmarks, as Nifty mid and smallcap indexes declined 1.34 percent and 1.74 percent respectively. At the close, Sensex and Nifty declined 0.73 percent and 0.72 percent respectively. You can read the detailed market updates here
Nifty and Bank Nifty Futures Price Movement for (26 Oct expiry)
The Nifty futures price opened at 19590.10, making a negative opening of 88.4 points on Monday. It has touched an intraday high of 19616.80 and a day’s low of 19505.90
The Nifty futures price has given a movement of 110.9 points. In the end, it closed lower by 156.50 points or 0.80 percent and ended at 19522 levels.
The Bank Nifty futures opened at 44205. It made a gap-down opening of 305.2 points. The Bank Nifty futures touched an intraday high at 44287.95 and a day’s low at 43935.
During the day, the Bank Nifty futures have given a movement of 352.95 points. In the end, it closed lower by 538.05 points or 1.21 percent and closed at 43972.15 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 10 Oct 2023
Nifty Futures Prediction for Tomorrow, 10 Oct 2023
Primary Trend in Nifty Futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves can initiate profit Booking @ 19600 whereas All Down Moves can Initiate Short Covering @ 19450
If Nifty futures for the Oct Series move above 19560 and sustain. Then Nifty futures can touch 19582 during the day with a Stop Loss of 19540. In a day it could trade in a range of 19582- 19609- 19639 levels.
If the Nifty futures for the Oct Series share price moves below 19505 and is sustained. Then Nifty futures can touch 19480 levels for the day with a Stop Loss of 19528 In a day it could trade for the target of 19480- 19452 – 19418 level.
If you want Live Market Views for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our WhatsApp Channel here or Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow, 10 Oct 2023
Primary Trend in Bank Nifty Futures- Sideways Negative
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 44100 whereas All Down Moves can Initiate Short Covering @ 43800
Suppose the Oct series Bank Nifty futures move above 44055 and sustain, then Banknifty can touch 44130 levels during the day with a Stop Loss of 43980. During the day Bank Nifty futures could trade in the range of 44130- 44220- 44300 levels
If the Bank Nifty futures (Oct Series) move below 43840 and sustain, then Banknifty can touch 43770 levels in a day with a Stop Loss of 43915. During the day Bank Nifty futures could trade in the range of 43770- 43710- 43640 levels.
Note:- With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy Free at Upstox. Click here to Open a Free Trading and Demat Account and get a Life-Time Demat AMC Free and Rs 20 flat Brokerage.
Global Stock Market Updates
The other Asian stock markets ended mixed on Monday. China resumed trading after a weeklong holiday and ended in the red, as investors are looking for more economic data this week. The geopolitical turmoil in the Middle East also hit market sentiments in the region. You can read detailed global stock market updates here
European stock market indexes are trading mixed. The US Future indexes, Dow, and Nasdaq futures are trading lower on Monday, due to geopolitical tension, indicating a negative opening for the US markets. You can also follow our US markets Report at 10 PM IST.
Conclusion
Indian equity markets ended in the red amid geopolitical tension. The spike in crude oil prices fretted investors for a rise in inflation and dampened the market sentiments. Going ahead, tomorrow markets will open as per global cues, You can follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Stock Market Prediction Next Week (9- 13 Oct 2023)
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow, 10 Oct 2023” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution in compiling the data for its Website. The views and investment tips expressed here are by third-party experts and are for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before making any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
