Nifty and Bank Nifty Prediction for Tomorrow, 13 Oct 2023
Nifty and Bank Nifty Prediction for Tomorrow, 13 Oct 2023: Indian equity benchmarks ended the volatile session with minor cuts on Thursday, snapping a two-day winning streak. The domestic markets gained support from positive global cues ahead of economic data due later in the day. Among the sectors Media, Oil & Gas, and Auto gained the most while the selling pressure was witnessed in IT and Realty space.
At the close, Sensex declined 64.66 points or 0.10 percent at 66408.39 level, while Nifty was down by 17.35 points or 0.09 percent and settled at 19794 levels. The broader markets outperformed the benchmarks, as Nifty midcap and smallcap indexes gained 0.17 percent and 0.65 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 19862.30, making a positive opening of 12.2 points on Thursday. It has touched an intraday high of 19884 and a day’s low of 19802.50
The Nifty futures price has given a movement of 81.5 points. In the end, Nifty futures closed lower by 8.05 points or 0.04 percent and ended at 19842.05 levels.
The Bank Nifty futures opened at 44725. It made a positive opening of 39.45 points. The Bank Nifty futures touched an intraday high at 44820.85 and a day’s low at 44682.20.
During the day, the Bank Nifty futures have given a movement of 138.65 points. In the end, Bank Nifty Futures closed higher by 58.45 points or 0.13 percent and closed at 44744 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 13 Oct 2023
Nifty Futures Prediction for Tomorrow, 13 Oct 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves can initiate profit Booking @ 19950 whereas All Down Moves can Initiate Short Covering @ 19800
If Nifty futures for the Oct Series move above 19885 and sustain. Then Nifty futures can touch 19918 during the day with a Stop Loss of 19860. In a day it could trade in a range of 19918- 19944- 19978 levels.
If the Nifty futures for the Oct Series share price moves below 19828 and is sustained. Then Nifty futures can touch 19800 levels for the day with a Stop Loss of 19850 In a day it could trade for the target of 19802- 19772 – 19746 level.
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Bank Nifty Futures Prediction for Tomorrow, 13 Oct 2023
Primary Trend in Bank Nifty Futures- Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 45000 whereas All Down Moves can Initiate Short Covering @ 44650
Suppose the Oct series Bank Nifty futures move above 44820 and sustain, then Banknifty can touch 44885 levels during the day with a Stop Loss of 44750. During the day Bank Nifty futures could trade in the range of 44885- 44970- 45120 levels
If the Bank Nifty futures (Oct Series) move below 44620 and sustain, then Banknifty can touch 44535 levels in a day with a Stop Loss of 44690. During the day Bank Nifty futures could trade in the range of 44535- 44455- 44370 levels.
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Global Stock Market Updates
The other Asian stock market indexes mostly ended higher on Thursday, as investors got further signals from the US Fed officials that the central bank may soon end the rate hike campaign.
However, the upside remained capped as investors were cautious ahead of the CPI inflation data from US. The rollout of more stimulus measures from Beijing also supports the markets in the region.
European stock markets are trading higher, as the UK’s GDP grew 0.2% on a MoM basis in August. Investors are now looking for the US CPI data which is due later in the day.
The US futures are trading higher, indicating a positive opening for the US markets. You can also follow our US markets Report at 10 PM IST.
Conclusion
The domestic markets traded sideways and ended with a marginal cut ahead of the CPI and IIP data, due later in the day. Going ahead, tomorrow Indian stock markets will first react to macroeconomic data both domestically as well as from the US. Investors can follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read US Market: Stock Futures Climb Ahead of CPI Inflation Data
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
Happy Investing!
Editor’s Desk
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