Nifty | Bank Nifty Prediction for Thursday, 22 July 2021
Nifty and Bank Nifty prediction for Thursday, 22 July 2021: Indian stock markets made a negative start on Tuesday amid a global sell-off. The benchmark indices traded below their neutral line throughout the day and extended their yesterday’s losses on the back of selling in all major sectors except for FMCG. In the end, markets closed in the red today.
After Monday’s sharp sell-off in global markets, traders choose to remain on the sidelines ahead of the market holiday on Wednesday on account of Bakri-Id. Traders were concerned with a private report that investments by private equity and venture capital funds declined by 22 percent to $5.4 billion in June as compared to the 6.9 billion in the previous year. Some cautious also came in as Indian rating agency Crisil said the delay in monsoon till the first half of July has impacted the pace of sowing of Kharif crops in 2021-22 crop-year.
Meanwhile, traders have overlooked Union minister Pankaj Chaudhary’s statement that the Indian economy is showing signs of recovery since the peak of the second wave of Covid-19, in the first half of May on the back of targeted fiscal relief, strong push for capital expenditure, and a rapid vaccination drive.
Today’s market updates: Sensex, Nifty, and Bank Nifty on spot levels
At the close, Nifty fell 120.30 points or 0.76 percent and closed at 15632.10 levels while the Sensex was down by 354.89 points or 0.67 percent and finished at 52198.51 levels. The Bank Nifty spot price slipped 663.75 points or 1.89 percent and ended at 34415.45 levels.
The broader markets underperformed the benchmark indices today. The Nifty midcap fell 397.55 points or 1.44 percent and closed at 27227.85 levels. The Nifty smallcap index was declined by 147.05 points or 1.41 percent and finished at 10303.65 levels.
The top five stocks in the Nifty 50 index were Asian Paints, Ultratech Cements, HUL, Maruti, and Grasim. The five losers in the Nifty 50 index were Hindalco, IndusInd Bank, Tata Steel, NTPC, and Bharti Airtel. The most active stocks in terms of value were Asian Paints, HDFC Bank, and Tata Steel. The most active stocks in terms of volume were Tata Motors, ITC, and ONGC.
On a sectoral front, FMCG, Construction Materials, and Chemical sectors closed in the green today. The sectors that dragged the market down today were Banking, Metals, Real Estate, Healthcare, Finance, and Automobiles.
Nifty and Nifty Bank futures price movement for 20 July (July Expiry)
The Nifty futures price opened at 15711 and made a negative opening of 41.4 points. It has touched an intraday high at 15741 and a day’s low at 15586
The Nifty futures price has given a movement of 155 points today. In the end, it fell 122.4 points or 0.78 percent and ended at 15630 levels.
The Bank Nifty futures opened at 34955.65. It made a negative opening of 215.10 points today. It has touched an intraday high at 35000.75 and a day’s low at 34440
During the day, the Bank Nifty in futures has given a movement of 560.75 points. In the end, it closed lower by 685.5 points or 1.95 percent and closed at 34485.25 levels
Nifty & Bank Nifty Prediction for Thursday 22 July, (July Expiry )
Nifty Futures Prediction for Thursday 22 July 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15700 whereas All Down Moves Initiates Short Covering (Buy) @ 15550
If the Nifty futures share price Moves Above 15665 and sustain. Then you should Buy with 1st Target of 15705 during the day with a Stop Loss of 15590 FOR the Target of 15705-15745- 15792
If the Nifty futures share price Moves Below 15590 and is sustained. Then you should Sell with the 1st Target of 15564 during the day with a Stop Loss of 15665. FOR the Target of 15564- 15530 -15495
Bank Nifty Futures Prediction for Thursday, 22 July 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34700, whereas All Down Moves Initiates Short Covering (Buy) @ 34150
Suppose the Bank Nifty futures Moves Above 34655 and sustain, then you should Buy with the 1st Target of 34740 during the day with a Stop Loss of 34400. FOR the Target of 34740 – 34845 – 35033
If the Bank Nifty futures Moves Below 34400 and sustain, then you should Sell with the 1st Target of 34285 during the day with a Stop Loss of 34655. FOR the Target of 34285 – 34180 – 34070
Global markets today
On the global front, Asian markets closed in the red on Tuesday amid negative cues from Wall Street overnight. The sign of growing inflationary pressure and the surge in delta variant of coronavirus in many countries raised concerns that the pace of global economic recovery might slow down significantly. The European markets are trading higher after Monday’s selloff as investors responded to positive corporate earnings. The US future indexes, Dow and Nasdaq futures are trading in the green at 4.30 pm IST.
Conclusions
Indian markets fell consecutively for the third trading session due to weak global cues. The Nifty managed to hold the 15600 levels today. The broader markets underperformed the benchmark indices, Nifty midcap and smallcap indexes fell around 1.5 percent today. Tomorrow, the Indian stock market is closed on account of Bakri-Id.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for Thursday 22 July.
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