Nifty and Bank Nifty Prediction for Monday 21 Nov 2022
Nifty and Bank Nifty Prediction for Monday 21 Nov 2022: The Indian equity market indexes pared most of their intraday losses and closed with minor cuts on Friday. The domestic market sentiments were negative following the weak global cues, as investors were concerned that Fed may continue its aggressive rate hike stance after strong US retail sales data. PSU Bank and Realty stocks were in demand on Friday while some profit booking was witnessed in Auto, Oil & Gas, and Pharma stocks.
The market breadth was negative with the advance-decline indicating a ratio of 3:4 at the close. The broader markets underperformed the benchmark indices, as Nifty mid and smallcap indexes fell 0.50 percent and 0.52 percent respectively. At the close, Nifty and Sensex declined 0.20 percent and 0.14 percent respectively on Friday.
Nifty and Nifty Bank futures price movement on Friday, 18 Nov (Nov Expiry)
On Friday, Nov 18, the Nifty futures (Nov Series) opened at 18396 levels, it made a positive opening of 17.6 points. It has touched an intraday high at 18417 and a day’s low at 18256.50
The Nifty future has given a movement of 160.5 points on Friday. In the end, it declined 33.40 points or 0.18 percent and ended at 18345 levels.
The Bank Nifty futures (Nov. Series) opened at 42598 levels on the last day of the week. It made a positive opening of 66.45 points on Friday. It has touched an intraday high at 42614.10 and a day’s low at 42293.95
On Friday, the Bank Nifty future gave a movement of 320.15 points. At the close, it ended lower by 26.25 points or 0.06 percent and closed at 42505.30 levels.
Nifty & Bank Nifty Prediction for Monday 21 Nov 2022 (Nov Expiry)
Nifty Futures Prediction for Monday 21 Nov 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18450 whereas All Down Moves Initiates Short Covering (Buy) @ 18250
If the Nifty futures share price Moves Above 18386 and sustain. Then you should Buy with 1st Target of 18418 during the day with a Stop Loss of 18340 FOR the Target of 18418-18450- 18475
If the Nifty futures share price Moves Below 18290 and is sustained. Then you should Sell with the 1st Target of 18258 during the day with a Stop Loss of 18322. For the Target of 18258- 18205- 18154
Bank Nifty Futures Prediction for Monday 21 Nov 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42750, whereas All Down Moves Initiates Short Covering (Buy) @ 42400
Suppose the Bank Nifty futures Moves Above 42635 and sustain, then you should Buy with the 1st Target of 42740 during the day with a Stop Loss of 42530. For the Target of 42740- 42880- 42970
If the Bank Nifty futures Moves Below 42380 and sustain, then you should Sell with the 1st Target of 42285 during the day with a Stop Loss of 42470. For the Target of 42285- 42175- 42050
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Global stock market updates
The US stock markets closed higher on Friday. The key indices were trading volatile during the session. The utility stocks led the gains while the energy and communication stocks declined due to falling crude oil prices. The investors remain cautious, as the hawkish comments from the top Fed officials had fanned fears among investors for aggressive interest rate hikes from the central bank.
European stock markets closed higher on Friday as investors went bargain-hunting after two days of losses. The market participants continued to gauge the outlook of the US Fed’s monetary policy after hawkish comments made by the Fed officials. Almost all sectoral indices closed in the positive territory, led by retail and auto which added nearly 2 percent on Friday.
Conclusions
Indian stock markets traded volatile on Friday. The last-hour recovery pared some intraday losses on the last day of the week. The domestic markets end with minor cuts amid weak global cues. In absence of any domestic events, Indian markets are trading as per global cues. You can follow our daily Morning Reports at 7.30 am IST, to know the market direction.
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