Nifty and Bank Nifty Prediction for Monday 19 Sept 2022
Nifty and Bank Nifty Prediction for Monday 19 Sept 2022: Indian stock market indexes fell sharply and extended their early losses on Friday amid weak global cues. Markets traded lower on concerns about economic growth after India Ratings cut the growth forecast on Friday. The market sentiments were subdued as the Foreign Institutional Investors (FIIs) turned net sellers in the last three days of the week.
The broader markets underperformed the frontline index as the Nifty Mid and Smallcap indexes fell more than 2.5 percent each on the last day of the week. The market breadth was weak with the Advance-Decline indicating a negative ratio of 1:3 at the close. The FIIs and DIIs both were sellers in the equity cash segment on Friday, FIIs sold Rs 3260.05 crore while DIIs sold Rs 36.57 crore worth of shares on Friday.
Nifty and Nifty Bank futures price movement on Friday,16 Sept (Sept Expiry)
On Friday, Sept 16, the Nifty futures (Sept Series) opened at 17805.55 levels, it made a negative opening of 86.25 points. It has touched an intraday high at 17825 and a day’s low at 17526
The Nifty future has given a movement of 299 points on Friday. In the end, it declined 325.65 points or 1.82 percent and ended at 17566.15 levels.
The Bank Nifty futures (Sept Series) opened at 40980 levels on the last day of the week. It made a negative opening of 322.6 points on Friday. It has touched an intraday high at 41211.25 and a day’s low at 40567.60
On Friday, the Bank Nifty future gave a movement of 643.65 points. At the close, it was down by 452.60 points or 1.10 percent and closed at 40850 levels.
Nifty & Bank Nifty Prediction for Monday 19 Sept 2022 (Sept Expiry)
Nifty Futures Prediction for Monday 19 Sept 2022
Primary Nifty Trend in futures: Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18630 whereas All Down Moves Initiates Short Covering (Buy) @ 17400
If the Nifty futures share price Moves Above 17630 and sustain. Then you should Buy with 1st Target of 17665 during the day with a Stop Loss of 17605 FOR the Target of 17665-17702- 17745- 17792
If the Nifty futures share price Moves Below 17530 and is sustained. Then you should Sell with the 1st Target of 17485 during the day with a Stop Loss of 17570. For the Target of 17485- 17435- 17403- 17365
Bank Nifty Futures Prediction for Monday 19 Sept 2022
Primary Trend of Bank Nifty Futures: Negative and Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40950, whereas All Down Moves Initiates Short Covering (Buy) @ 40100
Suppose the Bank Nifty futures Moves Above 40930 and sustain, then you should Buy with the 1st Target of 41025 during the day with a Stop Loss of 40790. For the Target of 41025- 41175- 41305- 41415
If the Bank Nifty futures Moves Below 40550 and sustain, then you should Sell with the 1st Target of 40460 during the day with a Stop Loss of 40715. For the Target of 40460 -40350- 40230- 40056
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Global stock market updates
The US stock market indexes closed lower on Friday as investors were concerned about the outlook for the health of the US economy. The Corporate giant FedEx cautioned late Thursday, that it is closing offices to offset declining demand, triggering fresh worries about the global economy ahead of the US Fed interest rate hike meeting
European stock market indexes closed lower on Friday amid growth fear, expectations for further rate hikes, and continued volatility in the energy markets hitting the market sentiments. The pan-Europe Stoxx 600 was down 1.6% will sectors closing in the negative zone on Friday.
Conclusions
Indian markets witnessed a sharp selloff on the last day of the week with persistent pressure from the global markets. Friday’s selling has wiped out all weekly gains from the Indian markets. The volatility index “India VIX” gained more than 7 percent on Friday and closed at 19.82. Indian markets continued to take cues from the global markets and remain volatile on Monday.
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