Nifty & Bank Nifty Prediction for Tomorrow 16 June 2021
Nifty & Bank Nifty Futures Prediction for Tomorrow 16 June 2021: Indian stock markets opened higher amid mixed cues from the global market peers. Markets traded with fine fettle as the benchmark indices, Sensex and Nifty traded above 52700 and 15850 levels on the back of buying in Consumer Durables, Realty, and FMCG sectors. In the end, markets closed in the positive territory.
Traders remain optimistic with the private report that calibrated reopening of the economy by states as the number of fresh Covid-19 cases subsidize increased mobility and aided in a fast-paced increase in an index of business resumption last week. Meanwhile, another private report stated that 72 percent of the revenue of Indian firms is derived from the domestic/home market- the sixth highest in percentage terms in the emerging market (EM) and the Asian region.
Today’s market updates: Sensex, Nifty, and Bank Nifty spot price
At the close, Nifty gained 57.40 points or 0.37 percent and closed at 15869.25 levels while Sensex was up by 221.52 points or 0.43 percent and finished at 52773.05 levels. The Bank Nifty spot price levels jumped 297.15 points or 0.86 percent and end at 35247.75 levels.
The midcap and smallcap indices also gained around half a percent today. The Nifty midcap index was up by 165.85 points or 0.61 percent and closed at 27364.35 levels. The Nifty smallcap index gained 43.40 points or 0.45 percent and finished at 9760.45 levels.
The top five gainers in the Nifty 50 index were Asian Paints, Axis Bank, ICICI Bank, HDFC Life, and HUL. The top five losers in the Nifty 50 index were Divis Labs, Coal India, Bajaj Finserve, Hindalco, and Dr. Reddys Labs. The most active stocks in the Nifty 50 index were Adani Ports, Reliance, and Tata Motors.
On a sectoral basis, FMCG, Consumer Durables, Chemical, Realty, and Banking. On the losing side, Healthcare, Metals, Industrial Gas & Fuel, and Power sectors closed in the red.
Nifty and Nifty Bank futures price movement for 15 June, ( June Expiry)
The Nifty futures price opened at 15866.60 made a positive opening of 33.95 points. It has touched an intraday high at 15909 and a day’s low at 15853.95
The Nifty futures price has given a movement of 55.05 points today. In the end, it gained 38.45 points or 0.24 percent and ended at 15871.10 levels.
The Banknifty futures opened at 35035 It made a negative opening of 30.1 points today. It has touched an intraday high at 35425.95 and a day’s low at 34960.60
During the day, the Banknifty in futures has given a movement of 465.35 points. In the end, it closed higher by 230.95 points or 0.66 percent and closed at 35296.05 levels.
Nifty & Bank Nifty prediction for tomorrow 16 June, (June Expiry )
Nifty futures prediction for tomorrow, 16 June
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15930 whereas All Down Moves Initiates Short Covering (Buy) @ 15850
If the Nifty futures share price Moves Above 15905 and sustain. Then you should Buy with 1st Target of 15934 during the day with a Stop Loss of 15845 FOR the Target of 15934-15962- 15985
If the Nifty futures share price Moves Below 15845 and sustained. Then you should Sell with the 1st Target of 15822 during the day with a Stop Loss of 15905. FOR the Target of 15822- 15800 -15770
Bank Nifty Futures Prediction for Tomorrow, 16 June
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700, whereas All Down Moves Initiates Short Covering (Buy) @ 35100
Suppose the Bank Nifty futures Moves Above 35495 and sustain, then you should Buy with the 1st Target of 35590 during the day with a Stop Loss of 35120. FOR the Target of 35590 – 35695 – 35925
If the Bank Nifty futures Moves Below 35120 and sustained, then you should Sell with the 1st Target of 35029 during the day with a Stop Loss of 35495. FOR the Target of 35029 – 34880 – 34765
Global markets today
On the global front, Asian markets closed mixed on Tuesday as traders were cautious ahead of the Federal Reserve policy meeting. European markets are trading higher on Tuesday as optimism around a speedy economic recovery across the region lifted industrial stocks, while IT stocks tracked an overnight jump in their U.S peers. The U.S future indices, Dow and Nasdaq futures are trading marginally higher at 4.30 pm IST.
Conclusions
Indian stock markets closed higher for the fourth consecutive day today. The benchmark indices Sensex and Nifty touched a new all-time high today at 52869.51 and 15901.60 levels respectively. Markets traded in a narrow range today, as traders were cautious ahead of the Federal Reserve meeting outcome, which is expected on 16 June, tomorrow.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for tomorrow June 16.
Also read, Intraday Trading books to make money from Stock Markets
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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