Nifty and Bank Nifty Prediction for Tomorrow, 14 December 2023
Nifty and Bank Nifty Prediction for Tomorrow, 14 December 2023: Indian equity benchmarks ended slightly higher on Wednesday. The domestic markets opened in the green territory following gains from global markets. Sensex and Nifty slipped into the red, soon after opening and traded below their neutral lines for most of the session. However, in the last hour, key indices pared all their intraday losses and ended slightly higher.
Among the sectors, the Realty, Pharma, and Auto sectors were in demand, while the IT stocks witnessed some selling pressure on Wednesday. The market breadth was positive. The NSE volatility index “India VIX” slipped 5.09% to 12.07.
The broader markets outperformed the benchmarks, as the Nifty mid and smallcap index gained 0.88% and 0.87%, respectively. At the close, Sensex advanced 33.57 points or 0.05% at closed at 69584.60, while Nifty gained 19.95 points or 0.10% and settled at 20926.35.
Nifty and Bank Nifty Futures Price Movement for (28 Dec expiry)
The Nifty futures price for December 28, expiry opened at 21039.95, making a positive opening of 17 points on Wednesday. It has touched an intraday high of 21048.95 and a day’s low of 20900.10
The Nifty futures price has given a movement of 148.85 points. Ultimately, the Nifty futures closed slightly higher by 12.50 points or 0.06% at 21035.45 levels.
The Bank Nifty futures for December 28, expiry opened at 47350. It made a positive opening of 41.55 points on Wednesday. The Bank Nifty futures touched an intraday high at 47447.20 and a day’s low at 47111.55
During the day, the Bank Nifty futures have given a movement of 335.65 points. In the end, Bank Nifty Futures closed higher by 81.55 points or 0.17 percent and closed at 47390 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 14 Dec 2023
Nifty Futures Prediction for Tomorrow, 14 Dec 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend: All up Moves can initiate profit Booking @ 21090, whereas All Down Moves can Initiate Short Covering @ 20940
Suppose the Nifty futures move above 21075 and sustain. Then, the index can trade in a range of 21095- 21127- 21154 levels during the day.
If the Nifty futures share price moves below 20990 and is sustained. Then, the index futures can trade in a range of 20970- 20947- 20914 levels during the day.
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Bank Nifty Futures Prediction for Tomorrow, 14 Dec 2023
Primary Trend in Bank Nifty Futures- Positive
Range-Bound Trend of Bank Nifty Future: All up moves can Initiate Profit Booking @ 47550, whereas All down moves can Initiate Short Covering @ 47150.
If the Bank Nifty futures move above 47455 and sustain, then the index can trade in the 47535- 47610- 47685 levels during the day.
If the Bank Nifty futures move below 47280 and sustain, then the index can trade in the range of, 47200- 47130- 47040 levels during the day.
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Conclusion
The markets ended with slight gains amid volatility, continuing the ongoing consolidation phase. The market sentiments were mainly hit due to the weakness in the IT majors.
Going ahead, though the markets might continue to consolidate, the bias is expected to remain on the positive side. Investors are advised to focus on stock selection and overnight risk management. The performance of the US markets is expected to remain crucial in determining the next directional move, so it’s important, to closely monitor the US Fed’s monetary policy, which is due later in the day for global cues.
Therefore, adopting a stock-centric approach and staying vigilant regarding global developments is advisable. Investors can also follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Stock Market Prediction Next Week (11- 15 Dec 2023)
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
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