Nifty and Bank Nifty Prediction for Monday 12 Sept 2022
Nifty and Bank Nifty Prediction for Monday 12 Sept 2022: Indian stock market indexes trim their early gains and closed marginally higher on Friday. The domestic markets traded above their neutral line with the support of positive global cues. The benchmark indices, Sensex, and Nifty gained 0.18 percent and 0.19 percent respectively on account of buying in the IT and Banking space. Some profit booking was witnessed in Realty and Financial sectors.
The broader markets also closed positively almost in line with their larger peers. The market breadth was strong with the Advance-Decline indicating a ratio of 2:1 at the close. FIIs were the net buyers in the equity cash segment, they bought Rs 2132.42 crores while DIIs were the net seller and they sold Rs 1167.57 crore on Friday.
Nifty and Nifty Bank futures price movement on Friday, 9 Sept (Sept Expiry)
On Friday, Sept 9, the Nifty futures (Sept Series) opened at 17927.10 levels, it made a positive opening of 102.75 points. It has touched an intraday high at 17949.65 and a day’s low at 17804.95
The Nifty future has given a movement of 144.7 points on Friday. In the end, it gained 37.65 points or 0.21 percent and ended at 17862 levels.
The Bank Nifty futures (Sept Series) opened at 40601.15 levels on the last day of the week. It made a positive opening of 288.75 points on Friday. It has touched an intraday high at 40753.10 and a day’s low at 40362.55
On Friday, the Bank Nifty future gave a movement of 390.55 points. At the close, it was up by 177.60 points or 0.44 percent and closed at 40490 levels.
Nifty & Bank Nifty Prediction for Monday 12 Sept 2022 (Sept Expiry)
Nifty Futures Prediction for Monday 12 Sept 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18000 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
If the Nifty futures share price Moves Above 17890 and sustain. Then you should Buy with 1st Target of 17932 during the day with a Stop Loss of 17865 FOR the Target of 17932-17965- 17990- 18030
If the Nifty futures share price Moves Below 17830 and is sustained. Then you should Sell with the 1st Target of 17800 during the day with a Stop Loss of 17852. For the Target of 17800- 17772- 17724- 17668
Bank Nifty Futures Prediction for Monday 12 Sept 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40850, whereas All Down Moves Initiates Short Covering (Buy) @ 40150
Suppose the Bank Nifty futures Moves Above 40720 and sustain, then you should Buy with the 1st Target of 40870 during the day with a Stop Loss of 40602. For the Target of 40870- 40965- 41124- 41375
If the Bank Nifty futures Moves Below 40300 and sustain, then you should Sell with the 1st Target of 40124 during the day with a Stop Loss of 40500. For the Target of 40124 -40030- 39870-39775
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Global stock market updates
The US stock market key indexes closed higher on Friday as investors shrugged off concerns about the economic outlook. Friday’s rally was led by the big tech and chip stocks which pushed the broader tech sector more than 2 percent higher despite the Fed’s latest hawkish remark. In the latest Fed official remark, Federal Reserve Governor Christopher Waller indicated another significant increase in the interest rate later this month.
European stock market key indexes ended more than 1 percent higher on Friday as several countries including the UK and Germany pledged large-scale support to cope with energy costs. The market sentiments were also improved amid talks that China’s fiscal stimulus is in the pipeline. The decline in consumer and factory gate inflation in China in August also upbeat the market sentiments on Friday.
Conclusions
Indian stock markets faced resistance at the higher levels on Friday and witnessed some profit booking. The markets were closed on a positive note due to positive global cues. Global investors shrugged off concerns about inflation and interest rate hikes and bet on the recent beaten-down stocks, especially in the IT space. The domestic markets are looking strong on the back of healthy macro data, strong FIIs inflow, and improvement in festive demand.
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