Nifty and Bank Nifty Prediction for Monday, 21 March 2022
Nifty and Bank Nifty Prediction for Monday, 21 March 2022: Indian equity markets opened a huge gap-up on Thursday following strong global market cues. The markets carried on with the momentum as the day progressed to end on a strong note on Thursday, the last day of the week. Among the sectors except for IT, all other sectoral indices closed in the green on Thursday, led by Realty, Financial Services, Auto, and Banking. The market breadth was strong once again with the advance decline indicating a ratio of 2:1 at the close.
FIIs turned buyers whereas DIIs were the sellers in the cash segment on the last trading day of the week. FIIs bought Rs 2800.14 crore while DIIs sold Rs 678.45 crore on Thursday, 17 March. You can read Thursday’s market updates here and weekly stock market analysis here
Nifty & Nifty Bank futures price movement on Thursday, 17 March (March Expiry)
On Thursday, 17 March, the Nifty futures ( March Series) opened at 17218 levels, it made a gap-up opening of 209.25 points. It has touched an intraday high at 17385.85 and a day’s low at 17188.15
The Nifty future has given a movement of 197.7 points on Thursday. In the end, it gained 315.35 points or 1.85 percent and ended at 17324.10 levels.
The Bank Nifty futures (March Series) opened at 36340 levels on the last day of the week. It made a gap-up opening of 535.95 points on Thursday. It has touched an intraday high at 36612.30 and a day’s low at 36322.15
On Thursday, the Bank Nifty future gave a movement of 290.15 points. In the end, it gained 595.95 points or 1.66 percent and closed at 36400 levels.
Nifty & Bank Nifty Prediction for Monday, 21 March 2022 (March Expiry)
Nifty Futures Prediction for Monday, 21 March 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17600 whereas All Down Moves Initiates Short Covering (Buy) @ 17300
If the Nifty futures share price Moves Above 17385 and sustain. Then you should Buy with 1st Target of 17428 during the day with a Stop Loss of 17335 FOR the Target of 17428- 17480- 17545-17602
If the Nifty futures share price Moves Below 17290 and is sustained. Then you should Sell with the 1st Target of 17250 during the day with a Stop Loss of 17320. FOR the Target of 17250- 17224- 17200- 17146
Bank Nifty Futures Prediction for Monday, 21 March 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36900, whereas All Down Moves Initiates Short Covering (Buy) @ 36000
Suppose the Bank Nifty futures Moves Above 36560 and sustain, then you should Buy with the 1st Target of 36730 during the day with a Stop Loss of 36460. FOR the Target of 36730 – 36915- 37035- 37205
If the Bank Nifty futures Moves Below 36185 and sustain, then you should Sell with the 1st Target of 36000 during the day with a Stop Loss of 36358. FOR the Target of 36000 – 35840- 35560- 35380
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Global stock market updates
European markets erased all intraday losses and managed to close in the green on the last day of the week. Investors were cautious as Russia started shelling in western Ukraine and peace talks between the two countries appeared to be making slow progress.
The US market indexes extended their rally on Friday despite the elevated commodity prices and geopolitical tensions. Technology shares led the rally once again in the US markets on Friday. The Fed’s rate hike and the confidence grew among investors after the Fed policy which cleared the route map, boosted the US market sentiments.
Conclusions
Indian equity markets ended the week on a strong note due to a decline in crude prices after the recent hike, Fed’s policy and its clarity about the further rate hikes and economic growth, and progress of Russia-Ukraine peace talks. Market sentiments got boosted after FIIs turned buyers at the end of the week. Going ahead the geopolitical tensions and FIIs inflow will set the domestic market direction in the coming week.
Tomorrow, you can read “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, 3 Best Stocks to Buy in India for Short Term in March 2022
5 Best Stock Market Books- Beginners Must Read in 2021
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