Nifty and Bank Nifty Prediction for Tomorrow – 19 Dec 2023
Nifty and Bank Nifty Prediction for Tomorrow – 19 Dec 2023: Indian equity benchmarks ended with minor cuts on Monday after gaining for the seventh consecutive week on Friday. The domestic markets opened slightly lower following negative cues from Asian markets.
The indices traded below their neutral lines for most of the day on the back of selling in Realty, Banking, and Financial stocks. However, some buying was witnessed in the Media, Pharma, and Metal stocks. The market breadth was slightly on the positive side. On the NSE, 1389 shares were advanced while 1176 shares declined a total of 112 shares were unchanged at the close. The NSE volatility index “India VIX” jumped 5.88% to 13.90.
The broader markets outperformed the frontline index, as the Nifty mid and smallcap indexes gained 0.22% and 0.56%, respectively. At the close, Sensex declined 168.65 points or 0.24% and finished at 71315.10, while Nifty was down 38 points or 0.18% and settled at 21418.65. You can read the detailed market updates here.
Nifty and Bank Nifty Futures Price Movement for (28 Dec expiry)
The Nifty futures price for December 28, expiry opened at 21509, making a negative opening of 48.1 points on Monday. It has touched an intraday high of 21547.10 and a day’s low of 21458.30
The Nifty futures price has given a movement of 88.8 points. In the end, the Nifty futures closed lower by 91.10 points or 0.42% at 21466 levels.
The Bank Nifty futures for December 28, expiry opened at 48020. It made a negative opening of 251.45 points on Monday. The Bank Nifty futures touched an intraday high at 48206.35 and a day’s low at 47890.40
During the day, the Bank Nifty futures have given a movement of 315.95 points. In the end, Bank Nifty Futures closed lower by 356.80 points or 0.74 percent and closed at 47914.65 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 19 Dec 2023
Nifty Futures Prediction for Tomorrow, 19 Dec 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend: All up Moves can initiate profit Booking @ 21520 whereas All Down Moves can Initiate Short Covering @ 21390
Suppose the Nifty futures move above 21492 and sustain. Then the index can trade in a range of 21521- 21548- 21585 levels during the day.
If the Nifty futures share price moves below 21438 and is sustained. Then the index futures can trade in a range of 21417- 21390- 21358 levels during the day.
If you want Live Market Updates, Views for Nifty & Bank Nifty, Stocks, and Global/Domestic market happenings then join our WhatsApp Channel here or our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow, 19 Dec 2023
Primary Trend in Bank Nifty Futures- Positive
Range-Bound Trend of Bank Nifty Future: All up moves can Initiate Profit Booking @ 48050 whereas All down moves can Initiate Short Covering @ 47650.
Suppose the Bank Nifty futures move above 48045 and sustain, then the index can trade in the range of 48115- 48197- 48270 levels during the day.
If the Bank Nifty futures move below 47790 and sustain, then the index can trade in the range of 47640- 47565- 47500 levels during the day.
With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy Free at Upstox.
Click here to Open a Free Trading and Demat Account and get a lifetime Demat AMC Free and Rs 20 flat Brokerage.
Global Stock Market Updates
On the global front, Asian markets started the week on a subdued note on Monday as investors’ risk appetite was low amid a downbeat global economic situation and uncertainty on the US Fed rate cut in early next year. Traders remained sidelined ahead of Japan’s final monetary policy due on Tuesday.
China’s stocks extended their losses, following five weekly losses after the recent sluggish economic data. Hang Seng was down due to a fall in AI shares.
European stock market indexes opened slightly lower on Monday, following the weakness in Asian markets and hawkish comments from US Fed officials on Friday. The UK’s FTSE is trading higher due to strong performances from Entain and Vodafone, whereas CAC and DAX are trading marginally lower.
In the US, the Dow and Nasdaq futures are trading slightly higher indicating a positive opening for the US markets today.
Conclusion
The domestic markets paused on Monday and remained negative due to profit-taking in specific frontline stocks, triggered by the weakness in Asian markets and Friday’s hawkish comments from the Fed official.
After the strong rally in the previous weeks, Indian markets entered overbought positions, making some degree of profit-taking was anticipated. Although the overall sentiment remains bullish due to robust economic fundamentals, the occasional instances of profit-taking are likely. Investors can also follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Stock Market Prediction Next Week ( 18- 22 Dec 2023)
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow, 19 Dec 2023” please share it with others.
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution in compiling the data for its Website. The views and investment tips expressed here are by third-party experts and are for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before making any investment decision. However, Nifty50Stocks.com does not guarantee any information’s accuracy, adequacy, or completeness. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
