Nifty and Bank Nifty Prediction for Monday, 18 April 2022
Nifty and Bank Nifty Prediction for Monday, 18 April 2022: Indian equity markets closed lower for the third consecutive day on Wednesday ahead of a long weekend. The domestic markets opened higher taking support from the other Asian markets but could not sustain at higher levels on the back of profit booking in Auto, Financial and Banking stocks. Indian markets were highly volatile due to weekly expiry.
The market breadth was quite positive on Wednesday with the advance decline indicating a ratio of 2:1 at the close. FIIs were the sellers and DIIs were the buyers in the equity cash segment. FIIs sold Rs 2061.04 crore while DIIs bought Rs 1410.85 crore. You can read Friday’s market updates here.
Nifty and Nifty Bank futures price movement on Friday, 13 April ( April Expiry)
On Wednesday, 13 April, the Nifty futures ( April Series) opened at 17615.75 levels, it made a positive opening of 38.95 points. It has touched an intraday high at 17704.80 and a day’s low at 17488.40
The Nifty future has given a movement of 216.4 points on Wednesday. In the end, it declined 70.75 points or 0.40 percent and ended at 17506.05 levels.
The Bank Nifty futures (April Series) opened at 38000 levels on the last trading day of the week. It made a positive opening of 121.9 points on Wednesday. It has touched an intraday high at 38093.75 and a day’s low at 37521.60
On Wednesday, the Bank Nifty future gave a movement of 572.15 points. In the end, it was down by 333.20 points or 0.88 percent and closed at 37544.90 levels.
Nifty & Bank Nifty Prediction for Monday, 18 April 2022 (April Expiry)
Nifty Futures Prediction for Monday, 18 April 2022
Primary Nifty Trend in futures: Negative bias cautious
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17600 whereas All Down Moves Initiates Short Covering (Buy) @ 17400
If the Nifty futures share price Moves Above 17565 and sustain. Then you should Buy with 1st Target of 17615 during the day with a Stop Loss of 17518 FOR the Target of 17615- 17648-17705- 17752
If the Nifty futures share price Moves Below 17480 and is sustained. Then you should Sell with the 1st Target of 17432 during the day with a Stop Loss of 17502. FOR the Target of 17432- 17402- 17368- 17326
Bank Nifty Futures Prediction for Monday, 18 April 2022
Primary Trend of Bank Nifty Futures: Negative bias cautious
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37800, whereas All Down Moves Initiates Short Covering (Buy) @ 37100
Suppose the Bank Nifty futures Moves Above 37802 and sustain, then you should Buy with the 1st Target of 37930 during the day with a Stop Loss of 37630. FOR the Target of 37930 – 38030- 38120- 38318
If the Bank Nifty futures Moves Below 37400 and sustain, then you should Sell with the 1st Target of 37235 during the day with a Stop Loss of 37560. FOR the Target of 37235 – 37140- 37050- 36925
Global stock market updates
The US markets closed lower on Thursday ahead of the extended weekend, as market participants digested quarterly earnings from a number of the country’s largest banks. The rising 10-year Treasury yields hit the market sentiments on Thursday. The initial jobless claim also rose by 18000 to 185000 above market expectation as the data released on Thursday. Investors focus now shifted to corporates earnings and news in the US.
European markets were closed higher on Thursday as the European Central Bank (ECB) stuck to a more dovish policy bias than some observers had been expecting. Both US and European markets will remain closed on 15 April on account of Good Friday.
Conclusions
Indian markets traded negatively on Wednesday due to elevated CPI inflation released on 12 April. FIIs outflow and fear of aggressive key rate hikes by the Federal Reserve weighed on the market sentiments on Wednesday. Going ahead, due to uncertainty in the global markets, the weakness may continue in the domestic markets, traders should remain cautious. The BSE and NSE will remain closed on 15 April on account of Good Friday.
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