Nifty and Bank Nifty Prediction for Monday 18 July 2022
Nifty and Bank Nifty Prediction for Monday 18 July 2022: Indian equity market indexes snapped a four-day losing streak and closed near day’s high on Friday. Markets extended their early gains in the second half on the back of buying in Auto, FMCG, and Consumer Durable stocks. The benchmark indices, Sensex and Nifty gained 0.65 percent and 0.69 percent respectively on the last day of the week. The broader markets also gained almost in line with their larger peers.
On Friday some selling pressure was witnessed in the PSU Baning and IT stocks. However, the market breadth was quite positive with the “advance-decline” indicating a ratio of 3:2 at the close on Friday. FIIs were the net seller in the equity cash segment, they sold Rs 1649.36 crore while DIIs bought Rs 1059.46 crore.
Nifty and Nifty Bank futures price movement on Friday 15 July (July Expiry)
On Friday, July 15, the Nifty futures (July Series) opened at 15989.95 levels, it made a positive opening of 57.4 points. It has touched an intraday high at 16083.90 and a day’s low at 15930.30
The Nifty future has given a movement of 153.6 points on Friday. In the end, it gained 141.45 points or 0.89 percent and ended at 16074 levels.
The Bank Nifty futures (July Series) opened at 34803.30 levels on the last day of the week. It made a positive opening of 82.35 points on Friday. It has touched an intraday high at 34944.05 and a day’s low at 34541
On Friday, the Bank Nifty future gave a movement of 403.05 points. In the end, it was up by 89.05 points or 0.26 percent and closed at 34810 levels.
Nifty & Bank Nifty Prediction for Monday 18 July 2022 (July Expiry)
Nifty Futures Prediction for Monday 18 July 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16200 whereas All Down Moves Initiates Short Covering (Buy) @ 15950
If the Nifty futures share price Moves Above 16114 and sustain. Then you should Buy with 1st Target of 16138 during the day with a Stop Loss of 16080 FOR the Target of 16138- 16170-16215- 16254
If the Nifty futures share price Moves Below 15990 and is sustained. Then you should Sell with the 1st Target of 15966 during the day with a Stop Loss of 16030. FOR the Target of 15966- 15938- 15902- 15865
Bank Nifty Futures Prediction for Monday 18 July 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35200, whereas All Down Moves Initiates Short Covering (Buy) @ 34500
Suppose the Bank Nifty futures Moves Above 34976 and sustain, then you should Buy with the 1st Target of 35100 during the day with a Stop Loss of 34800. FOR the Target of 35100 – 35202- 35345- 35435
If the Bank Nifty futures Moves Below 34650 and sustain, then you should Sell with the 1st Target of 34570 during the day with a Stop Loss of 34765. FOR the Target of 34570 – 34440- 34360- 34255
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Global stock market updates
The economic data and a fresh round of bank earnings lifted the US markets on Friday, snapping five a five-session losing streak. The US Commerce Department showed the data, that retail sales had climbed more than expected in June. Investors’ mood was upbeat as the strong economic data released on Friday eases the recession fear. The financial stocks were boosted after Citi group posted better than expected profit and revenue. Friday’s rally has trimmed the US stock market’s weekly losses.
The European stock market closed strong on Friday as concerns about the aggressive interest rate hike by Fed have now eased, as two Fed officials supported for 0.75 bps rate hike. The market sentiments were optimistic on Friday as the trade deficit narrowed to EUR 26.0 billion in May from a revised EUR 31.8 billion in April, which was the biggest shortfall since 1999.
Conclusions
Indian markets recovered from the day’s low and made a decent pullback in the second half on Friday. The markets closed higher near the day’s high amid volatility. Investors are anticipating a further up move in the next session. On Monday, markets are likely to react to the HDFC Bank Q1 results first and trade as per global cues. The global cues are positive so far, we may see a gap up opening on Monday.
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