Nifty and Bank Nifty Prediction for Monday, 15 Nov
Nifty and Bank Nifty prediction for Monday, 15 Nov: Indian stock markets gained one percent during the week ended 12 November. The market gained for the second consecutive week even after mixed global cues and continuous selling pressure from the FIIs/FPIs. The broader markets also performed in line with their larger peers during the week
However, the good part was DIIs buying and positive cues from Asian markets supported the markets last week. On a sectoral front, the Energy, Capital Goods, and IT sectors have supported the markets while the Banking sector has negatively performed. You can read the detailed market highlights for the last week here.
Nifty and Nifty Bank futures price movement on Friday 12 Nov (Nov Expiry)
On Friday 12 Nov, Nifty futures opened at 18141.25 levels, down by 159.2 points. It has touched an intraday high at 18160 and a day’s low at 17737.65. Please note that the day low was a wrong/false trade last Friday.
The Nifty future has given a movement of 422.35 points on Friday. In the end, it gained 244.40 points or 1.37 percent and ended at 18141.25 levels.
The Bank Nifty futures opened at 38171.05 levels on the last day of the week. It made a positive opening of 515.05 points on Friday. It has touched an intraday high at 38948.95 and a day’s low at 38171.05
On Thursday, the Bank Nifty future gave a movement of 777.9 points. In the end, it gained by 173.90 points or 0.45 percent and closed at 38860 levels
Nifty & Bank Nifty Prediction for Monday, 15 Nov 2021 (Nov Expiry)
Nifty Futures Prediction for Monday, 15 Nov 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18250 whereas All Down Moves Initiates Short Covering (Buy) @ 18110
If the Nifty futures share price Moves Above 18158 and sustain. Then you should Buy with 1st Target of 18203 during the day with a Stop Loss of 18124 FOR the Target of 18203-18240- 18281
If the Nifty futures share price Moves Below 18085 and is sustained. Then you should Sell with the 1st Target of 18060 during the day with a Stop Loss of 18109. FOR the Target of 18060- 18028- 18000
Bank Nifty Futures Prediction for Monday, 15 Nov 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39300, whereas All Down Moves Initiates Short Covering (Buy) @ 38800
Suppose the Bank Nifty futures Moves Above 38956 and sustain, then you should Buy with the 1st Target of 39034 during the day with a Stop Loss of 38850. FOR the Target of 39034 – 39200 – 39330
If the Bank Nifty futures Moves Below 38780 and sustain, then you should Sell with the 1st Target of 38678 during the day with a Stop Loss of 38820. FOR the Target of 38678 – 38590 – 38465
Global market indexes
European markets finished the last day of the in a mixed state. FTSE closed lower as Astra Zeneca plunges after profit missed expectations, the stock came under pressure after the quarterly results. DAX and CAC closed in the positive zone on the last day of the week.
The US stock market indexes closed higher on Friday but ended the week in the red. Markets gained as Johnson & Johnson and big technology and communication stocks led to gains. Johnson & Johnson jumped on the news of splitting into two companies, focused on its consumer health business and the large pharmaceuticals unit.
Conclusions
Indian stock markets finished the week ended 12 November on a positive note. On Monday, markets will first react to the inflation and IIP data that were released on Friday post-market.
India’s retail inflation measured by the CPI rose marginally 4.48 percent in the month of October 2021 as compared to 4.35 percent in September. The IIP data for the month of September rises 3 percent as compared to 11.9 percent in August, this was due to the low-based effect ending by August.
However, Indian markets are looking positive technically, marginally lower inflation data will not affect much on Monday. Traders need to follow the Asian market cues on Monday and trade accordingly.
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Editor’s Desk
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