Nifty and Bank Nifty Analysis for Thursday, 27 Jan 2022
Nifty and Bank Nifty Analysis for Thursday, 27 Jan 2022: It was a negative start for the Indian stock markets on Tuesday tracking negative cues from the other Asian market peers. After a few minutes of trading market trimmed its losses and later in the afternoon session markets turned positive. The broader markets also closed positive following their larger peers. Buying was witnessed across all sectors today barring IT. In the end, the key benchmark, Sensex, and Nifty gained 0.64 percent and 0.75 percent respectively. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 25 Jan (Jan Expiry)
The Nifty futures price opened in 17000, making a gap-down opening of 151.65 points. It has touched an intraday high at 17309 and a day’s low at 16851.15
The Nifty futures price has given a movement of 457.85 points today. In the end, it gained 111.40 points or 0.65 percent and ended at 17263.05 levels.
The Bank Nifty futures opened at 36545, It made a gap down opening today, down by 421.85 points. The Bank Nifty futures has touched an intraday high at 37808.90 and a day’s low at 36470.80
During the day, the Bank Nifty futures has given a movement of 1338.1 points. In the end, it closed higher by 778.80 points or 2.11 percent and closed at 37745.65 levels.
Nifty & Bank Nifty Analysis & Prediction for 27 Jan 2022 (Jan Expiry)
Nifty Futures Analysis & Prediction for 27 Jan 2022
Primary Nifty Trend in futures: Positive & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17400 whereas All Down Moves Initiates Short Covering (Buy) @ 17150
If the Nifty futures share price Moves Above 17290 and sustain. Then you should Buy with 1st Target of 17318 during the day with a Stop Loss of 17265 FOR the Target of 17318- 17347- 17370 – 17402
If the Nifty futures share price Moves Below 17232 and is sustained. Then you should Sell with the 1st Target of 17204 the day with a Stop Loss of 17252. FOR the Target of 17204- 17170- 17132- 17106
Bank Nifty Futures Analysis & Prediction for 27 Jan 2022
Primary Trend of Bank Nifty Futures: Positive & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38200 whereas All Down Moves Initiates Short Covering (Buy) @ 37700
Suppose the Bank Nifty futures Moves Above 37830 and sustain, then you should Buy with the 1st Target of 37960 during the day with a Stop Loss of 37700 the Target of 37960 – 38050 – 38165- 38285
If the Bank Nifty futures Moves Below 37590 and sustain, then you should Sell with the 1st Target of 37470 during the day with a Stop Loss of 37640. FOR the Target of 37470 – 37380 – 37295- 37130
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Global stock markets today
On the global front, Asian markets closed in the red on Tuesday after a roller-coaster session on Wall Street overnight. On the economic front, South Korea GDP expanded 1.1% QoQ in the fourth quarter, and 4% for the year, as per Reuters report this is the best GDP growth in 11 years. European markets are trading higher at this time at 7.30 pm IST. The US futures are trading lower due to worries about the two-day Fed meeting and geopolitical tension between the US/Russia over Ukraine.
Conclusion
Indian stock markets snaps a five-day losing streak and closed higher today. Tomorrow Indian markets are closed on account of 26 January, Republic Day. Indian Markets are likely to remain volatile on Thursday as a two-day Fed meeting outcome is expected on Wednesday night, and it will impact global markets on Thursday. Traders should remain cautious on Thursday as the monthly F&O expiry is also scheduled on the same day, 27 January.
Also read: Best Options Trading Books in India-Must Read 2021
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