Nifty and Bank Nifty Prediction for Monday 26 Dec 2022
Nifty and Bank Nifty Prediction for Monday 26 Dec 2022: Indian equity benchmarks fell sharply for the fourth straight session on Friday amid weak global cues. Heavy selling pressure was witnessed in the mid and small-cap indexes. The stronger-than-expected US economic data released on Thursday dampened the global market sentiments on the last day of the week. Further, rising new covid cases in China and several other countries like Japan, the US, and South Korea added fear in the markets on the last day of the week.
Among the sectors, all sectoral indices closed in the red on 23 December, Nifty PSU Bank, Media, Metals, Realty, and Oil & Gas fell the most on Friday. The broader markets underperformed the benchmarks, as Nifty mid and smallcap companies fell sharply by 3.76 percent and 4.72 percent respectively. At the close, Sensex and Nifty were down by 1.61 percent and 1.77 percent respectively on the last day of the week.
Nifty and Nifty Bank futures price movement on Friday, 23 Dec
On Friday, Dec 23, the Nifty futures (Dec Series) opened at 18055.05 levels, it made a negative opening of 115.3 points. It touched an intraday high at 18115 and a day’s low at 17831.20
The Nifty future has given a movement of 283.8 points on Friday. In the end, it declined 287.5 points or 1.58 percent and ended at 17882.85 levels.
The Bank Nifty futures (Dec. Series) opened at 42100 levels on the last day of the week. It made a negative opening of 371.2 points on Friday. It has touched an intraday high at 42330 and a day’s low at 41657.45
On Friday, the Bank Nifty future gave a movement of 672.55 points. At the close, it ended lower by 724.65 points or 1.71 percent and closed at 41746.55 levels.
Nifty & Bank Nifty Prediction for Monday 26 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Monday 26 Dec 2022
Primary Nifty Trend in futures: Negative and Cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18000 whereas All Down Moves Initiates Short Covering (Buy) @ 17700
If the Nifty futures share price Moves Above 17938 and sustain. Then you should Buy with 1st Target of 17975 during the day with a Stop Loss of 17870 FOR the Target of 17975-18021- 18054- 18085
If the Nifty futures share price Moves Below 17775 and is sustained. Then you should Sell with the 1st Target of 17727 during the day with a Stop Loss of 17840. For the Target of 17727- 17692- 17655- 17621
Bank Nifty Futures Prediction for Monday 26 Dec 2022
Primary Trend of Bank Nifty Futures: Negative and Cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41900, whereas All Down Moves Initiates Short Covering (Buy) @ 41250
Suppose the Bank Nifty futures Moves Above 41950 and sustain, then you should Buy with the 1st Target of 42150 during the day with a Stop Loss of 41800. For the Target of 42150- 42290- 42380- 42500
If the Bank Nifty futures Moves Below 41550 and sustain, then you should Sell with the 1st Target of 41435 during the day with a Stop Loss of 41725. For the Target of 41435- 41305- 41220-41140
If you want Market Views and Live Trading calls for Nifty, Bank Nifty and Stocks, Cash/F&O Segment, and Global /Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Global stock market updates
On the global front, Asian markets were closed flat on Friday as core inflation in Japan hits a 40-year high. The rising Covid cases in China and several other countries weigh on the market sentiments on Friday. The pan European Stoxx-600 closed flat on Friday.
The UK’s FTSE also closed almost flat and finished trading at lunchtime. While DAX closed marginally higher and CAC was marginally down at the close on Friday. The market volume was very thin ahead of the Christmas holiday, as most of the European exchanges will be shut on Monday & Tuesday and will be reopening on Wednesday, December 28.
The US stock markets closed higher on Friday ahead of a long weekend, as the fresh survey showed ease in inflation. The market sentiments improved, as fear of aggressive interest rate hikes and recession worries eased, while a jump in oil prices boosted the energy shares on Friday.
As per the report shown by the Commerce Department US consumer spending barely rose in November, while inflation cooled further. The personal consumption expenditure (PCE) price index, Fed’s preferred inflation gauge, rose 0.1% last month compared to 0.4% in October.
.
Conclusions
Indian stock market indexes fell sharply for the fourth straight session on Friday due to weakness in the global markets. The rising covid cases in China and several other countries have spooked investors. On Friday, the US markets ended in green after a survey showed ease in inflation data.
Going ahead, we expect a short covering and high volatility in the domestic equity markets during the monthly F&O expiry week. You can also follow our Daily Morning Report at 7.30 am to know the market direction.
Also read, Indian Stock Market Weekly Update (19- 23 Dec)
Global Stock Market Weekly Updates ( 19- 23 Dec)
If you like the post “Nifty and Bank Nifty Prediction for Monday 26 Dec 2022” please share it with your friends and others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
