Stock Market Prediction Next Week (21- 25 Nov 2022)
Stock Market Prediction Next Week (21- 25 Nov 2022): Last week, Indian equity benchmarks ended with a minor cut and snapped a four-week winning streak amid volatility. The sentiments were subdued due to geopolitical tension and hawkish comments from US Fed officials. However, the downside was limited due to the decline in domestic inflation numbers for the month of October.
In the coming week, markets are expected to remain volatile as traders will roll over positions in the F&O segments from the near-month November series to the December series. On the global front, geopolitical tension, FOMC minutes, China’s Loan Prime rate, and PMI flash numbers, will remain focused during the week. The other key factors that are likely to impact the stock market prediction are given below
Stock Market Prediction Next Week (21- 25 Nov2022)
F&O Expiry- Nifty & Bank Nifty weekly prediction
November 2022, monthly F&O contracts will expire on 24 November, Thursday. Nifty and Bank Nifty are likely to remain volatile during the week, as traders will roll over their positions.
Nifty was trading in a tight range and was hovering between 18400-18200 levels during the week. It needs to breach on either side to confirm the direction of the trend from here on. The overall bias is still maintained cautiously positive as of now. For the next week, Nifty may trade in the range of 18600-18000 levels.
Bank Nifty movement also narrowed down in the last few session and with the 42600 zone as strong resistance. The Bank Nifty index needs to breach this level to carry on a further up move. The bias is still maintained cautiously positive as of now for the next week. For the next week Bank Nifty could trade in the range of 43400- 41000 levels.
You can also follow our daily Nifty and Bank Nifty futures, trends, trading strategies, and market updates on our Website or Telegram Channel – https://t.me/nifty50stocks1
Global Stock Market Prediction Next Week
The global market will play a crucial role to set the domestic market direction next week. Last week, the fresh geopolitical tension and hawkish comments from US Fed officials hit the market sentiments. In the coming week, investors should keep a close eye on geopolitical tension, FOMC minutes, and PMI flash data of several major countries are expected.
The US markets will remain closed on Thursday, 24 November due to Thanksgiving day. On Wednesday some crucial US economic data and FOMC minutes are expected, domestic investors should remain cautious on both Wednesday and Thursday. The other important macroeconomic data that are expected in the coming week are given below.
| Important Global Macro Data Next Week | ||
| 21 November 2022 | Loan Prime rate 1 & 5 Yrs | China |
| 22 November 2022 | Current Account Sept | EA |
| 22 November 2022 | Consumer Confidence Flash Nov | EA |
| 22 November 2022 | Fed Bullard Speech | US |
| 23 November 2022 | S&P Global PMI Flash Nov | EA |
| 23 November 2022 | S&P Global/CIPS PMI flash Nov | GB |
| 23 November 2022 | Initial Jobless Claims | US |
| 23 November 2022 | S&P Global PMI Flash Nov | US |
| 23 November 2022 | New Home Sales | US |
| 23 November 2022 | FOMC Minutes | US |
| 24 November 2022 | Jibun Bank PMI Flash Nov | Japan |
| 24 November 2022 | ECB Monetary Policy meeting Account | EA |
| 24 November 2022 | Tokyo CPI Nov | Japan |
Indian Rupee Movements against the US dollar
Indian rupee depreciated by 10 paise to close at 81.74 against the US dollar on Friday. The rupee reported its first weekly fall in four weeks due to weakness in Asian currencies. The Indian rupee fell by 96 paise or 1.18 percent against the US dollar during the week.
The Indian rupee was trading in a narrow range in the last few session and depreciated against the US dollar for the third day in a row on Friday, due to higher trade deficit numbers and dollar outflows. Volatility in the Indian currency is likely to remain and the rupee may further depreciate. Investors should closely monitor the Indian rupee’s movement against the US dollar.
Crude Oil Prices
The crude oil prices fell more than 2 percent on Friday, logging a second weekly decline, due to low demand from China on rising Covid cases, ease in supply, and further increases to US interest rates. On Friday, Brent crude prices closed at $87.62 per dollar while WTI crude settled at $80.08 a barrel. On a weekly basis, Brent crude fell 9 percent while WTI was down about 10 percent.
There is negativity in the oil markets due to recession worries and the fresh Covid outbreak in China, the world’s largest importer. With all this negativity, OPEC+ could go even further with production cuts if the outlook continues to deteriorate when it meets again on December 1st week. Traders should closely monitor the news related to crude oil in the coming week, as it may impact the domestic market.
FII & DIIs flow
Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) both were net buyers in the Indian equity markets last week. FIIs bought Rs 349.2 crore while DIIs bought Rs 2274.97 crore worth of shares in the cash segment during the week.
The sustained buying by the FIIs in the Indian equity markets continued to support the domestic markets, as the benchmark indices touched a 52-week high in November. So far in November, FIIs bought more than 12000 crores worth of shares in the Indian equity markets. According to the market experts, the buying spree of FIIs should continue in the coming days which can be a big positive for the domestic markets
Conclusion:
Indian stock markets closed with minor cuts on Friday, but the last hour’s rally pared most of their intraday losses. The US and European markets closed higher on Friday, hopefully, Asian markets will also follow the trend on Monday. In the coming week, the domestic markets will trade as per global cues in absence of any major event on the domestic front. You can follow our daily Morning Report at 7.30 am IST, to know the market direction.
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