Nifty and Bank Nifty Prediction for Tomorrow 18 May 2022
Nifty and Bank Nifty Prediction for Tomorrow 18 May 2022: Indian equity markets opened higher on Tuesday amid positive cues from the Asian market peers. Traders were optimistic about the report that Shanghai plans to gradually reopen after spending more than 6 weeks under complete lockdown, which had contracted the economic growth.
Indian markets extended their previous session gain on buying in Metals, Energy, and Media stocks. The broader markets also closed higher in line with their larger peers In the end, markets gained more than 2.5 percent today and closed on a strong note.
Nifty and Nifty Bank futures price movement for 17 May (May Expiry)
The Nifty futures price opened at 15901.05, making a positive opening of 58.45 points. It has touched an intraday high of 16275.05 and a day’s low of 15885.05
The Nifty futures price has given a movement of 390 points today. In the end, it closed higher by 423.85 points or 2.68 percent and ended at 16266.45 levels.
The Bank Nifty futures opened at 33754 It made a positive opening of 157.4 points. The Bank Nifty futures has touched an intraday high at 34375.45 and a day’s low at 33670.30
During the day, the Bank Nifty futures has given a movement of 705.15 points. In the end, it closed higher by 768.70 points or 2.29 percent and closed at 34365.30 levels.
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Nifty & Bank Nifty Prediction for Tomorrow 18 May 2022 (May Expiry)
Nifty Futures Prediction for Tomorrow 18 May 2022
Primary Nifty Trend in futures: Positive with Cautious Bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16410 whereas All Down Moves Initiates Short Covering (Buy) @ 16200
If the Nifty futures share price Moves Above 16309 and sustain. Then you should Buy with 1st Target of 16338 during the day with a Stop Loss of 16268 FOR the Target of 16338- 16380 – 16411- 16448
If the Nifty futures share price Moves Below 16208 and is sustained. Then you should Sell with the 1st Target of 16180 for the day with a Stop Loss of 15250. FOR the Target of 16180- 16155- 16120- 16090
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Bank Nifty Futures Prediction for Tomorrow 18 May 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34800 whereas All Down Moves Initiates Short Covering (Buy) @ 34200
Suppose the Bank Nifty futures Moves Above 34515 and sustain, then you should Buy with the 1st Target of 34625 during the day with a Stop Loss of 34280 the Target of 34625- 34730- 34815- 35025
If the Bank Nifty futures Moves Below 34170 and sustain, then you should Sell with the 1st Target of 34045 the day with a Stop Loss of 34245. FOR the Target of 34045 – 33930 – 33840 – 33700
Global Stock Markets today
On the global front, the other major Asian markets were closed higher on Tuesday. The sentiments got improved after the report that Shanghai is planning to reopen gradually now. Shanghai has set out plans for the return of normal life and the reopening of business from June 1.
European market indexes are trading higher on Tuesday after taking a lead from strong gains in Asia as investors punted on a potential lifting of covid restrictions in China. The US market indexes are trading higher on Tuesday ahead of Fed Chair Jerome Powell’s talk.
Conclusion
Indian markets witnessed a sharp rally today as investors preferred to bet on beaten-down stocks. However, traders should remain cautious as FIIs are still selling and interest rate hikes to tackle inflations can fuel volatility in the coming days.
Also read: Stock Market Prediction Next Week (16- 20 May 2022)
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