Nifty & Bank Nifty Prediction for Tomorrow 18 June 2021
Nifty and Bank Nifty futures prediction for tomorrow 18 June 2021: Indian stock markets made a gap-down opening on Thursday tracking negative cues from the global market peers. But soon markets managed to trim most of their losses and traded lower with marginal cut in the early deals. In the second half, the market slipped again on the back of selling in Automobiles, Metals, Banks and Financial sectors.
The market sentiments became positive after the commerce ministry showed the preliminary data that India’s export rose by 46.43 percent to $14.06 billion during June 1-14 on account of healthy growth in shipments ins engineering, gems, and gems jewelry, and petroleum products.
Traders were optimistic after the Finance Ministry said the direct tax collections for FY22 s on June 15, 2021, show that net collections are at Rs 1.85 trillion as compared to Rs 92,762 crores over the corresponding period of the preceding year, representing an increase of 100.4% over the collections of the preceding year.
Today’s market updates: Sensex, Nifty, and Bank Nifty spot price
At the close, Nifty fell 76.15 points or 0.48 percent and closed at 15691.40 levels while Sensex was down by 178.65 points or 0.34 percent and finished at 52323.33 levels. The Bank Nifty spot price slipped 398.10 points or 1.13 percent and closed at 34605.40 levels.
The broader markets also closed in the red along with larger peers. The Nifty midcap index was down by 332.15 points or 1.23 percent and ended at 26776.35 levels. The Nifty smallcap index declined by 51.55 points or 0.53 percent and closed at 9658.50 levels.
The top five gainers in the Nifty 50 index were Ultratech Cement, Asian Paints, TCS, Tata Cons. Products and HDFC Life. The top five losers in the Nifty 50 index were Adani Ports, Tata Steel, IndusInd Bank, Hindalco, and Eicher Motors. The most active stocks in the Nifty 50 index were Adani Ports, Tata Steel, and Reliance.
On a sectoral basis, IT & Software, Insurance, Construction Materials, and Consumer Durables sectors closed in the green. The sectors that dragged down the markets were Power, Metals, Infrastructure, Automobiles, Banking, and Finance sectors.
Nifty and Nifty Bank futures price movement for 17 June, ( June Expiry)
The Nifty futures price opened at 15671.05 made a negative opening of 119.15 points. It has touched an intraday high at 15777.60 and a day’s low at 15626
The Nifty futures price has given a movement of 151.6 points today. In the end, it fell 109.25 points or 0.69 percent and ended at 15680.95 levels.
The Bank Nifty futures opened at 34699.95 It made a negative opening of 401.4 points today. It has touched an intraday high at 34970.05 and a day’s low at 34486.40
During the day, the Bank Nifty in futures has given a movement of 483.65 points. In the end, it closed lower by 511.35 points or 1.46 percent and closed at 34590 levels.
Nifty & Bank Nifty prediction for tomorrow 18 June, (June Expiry )
Nifty futures prediction for tomorrow, 18 June
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15850 whereas All Down Moves Initiates Short Covering (Buy) @ 15700
If the Nifty futures share price Moves Above 15728 and sustain. Then you should Buy with 1st Target of 15749 during the day with a Stop Loss of 15650 FOR the Target of 15749-15802- 15846
If the Nifty futures share price Moves Below 15650 and sustained. Then you should Sell with the 1st Target of 15613 during the day with a Stop Loss of 15728. FOR the Target of 15613- 15580 -15558
Bank Nifty Futures Prediction for Tomorrow, 18 June
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700, whereas All Down Moves Initiates Short Covering (Buy) @ 34300
Suppose the Bank Nifty futures Moves Above 34700 and sustain, then you should Buy with the 1st Target of 34780 during the day with a Stop Loss of 34380. FOR the Target of 34780 – 34890 – 35022
If the Bank Nifty futures Moves Below 34380 and sustained, then you should Sell with the 1st Target of 34290 during the day with a Stop Loss of 35285. FOR the Target of 34290 – 34175 – 33955
Global markets today
On the global front, Asian markets mostly closed in the red today tracking the negative cues governing from the U.S markets as the Fed’s latest economic projections now point out the first post-pandemic interest rate hike in 2023, well ahead of the projected timeframe. Seven officials expect a rate hike as early as 2022. European markets are trading lower as U.S Fed turns hawkish on rates. The U.S dow futures, Dow, and Nasdaq futures are trading lower at 4.30 pm IST
Conclusions
Indian stock markets closed in the red amid weakness in the global markets as the U.S Federal Reserve turns hawkish on interest rates. Fed on 16 June said it might curb stimulus measures sooner than expected as the pace of the post-Covid pandemic recovery stoked inflationary fears. Indian markets are looking slightly negative in the near term, Nifty may take support at 15600-15550 levels. It’s an opportunity for Investors to accumulate quality stocks on dips.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for tomorrow June 18.
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NSE Indices: Nifty & Bank Nifty futures for (14-18 June)
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