Nifty and Bank Nifty Prediction for Tomorrow 22 Sept 2022
Nifty and Bank Nifty Prediction for Tomorrow 22 Sept 2022: Indian stock markets closed lower on Wednesday amid negative cues from their Asian peers. The market sentiments were downbeat as investors were cautious ahead of the Fed’s interest rate hike decision later in the day. Investors expected a 75 bps rate hike but the Fed’s economic projection and further moves will be focused and set the market direction.
Barring the FMCG sectors, all other sectoral indices on NSE were closed in the red today. The broader markets underperformed today, as the Nifty mid and smallcap indexes closed lower by 0.74 percent and 1.03 percent respectively. At the close, Sensex and Nifty ended with a moderate loss of 0.44 percent and 0.55 percent respectively on Wednesday.
Nifty and Bank Nifty futures price movement for 21 Sept (Sept Expiry)
The Nifty futures price opened at 17776.35, making a negative opening of 149.3 points today. It has touched an intraday high of 17844.35 and a day’s low of 17664.45
The Nifty futures price has given a movement of 179.9 points today. In the end, it closed lower by 85.65 points or 0.48 percent and ended at 17740 levels.
The Bank Nifty futures opened at 41299.75 It made a negative opening of 195.05 points. The Bank Nifty futures has touched an intraday high at 41550 and a day’s low at 40940
During the day, the Bank Nifty futures has given a movement of 610 points. In the end, it closed lower by 241.05 points or 0.58 percent and closed at 41253.75 levels.
Nifty & Bank Nifty Prediction for Tomorrow 22 Sept 2022 (Sept Expiry)
Nifty Futures Prediction for Tomorrow 22 Sept 2022
Primary Nifty Trend in futures: Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17970 whereas All Down Moves Initiates Short Covering (Buy) @ 17600
If the Nifty futures share price Moves Above 17790 and sustain. Then you should Buy with 1st Target of 17830 during the day with a Stop Loss of 17745 FOR the Target of 17830- 17880- 17930- 17970
If the Nifty futures share price Moves Below 17700 and is sustained. Then you should Sell with the 1st Target of 17660 for the day with a Stop Loss of 17730. For the Target of 17660- 17622- 17580- 17535
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Bank Nifty Futures Prediction for Tomorrow 22 Sept 2022
Primary Trend of Bank Nifty Futures: Negative & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41800 whereas All Down Moves Initiates Short Covering (Buy) @ 41350
Suppose the Bank Nifty futures Moves Above 41385 and sustain, then you should Buy with the 1st Target of 41510 during the day with a Stop Loss of 41250 and the Target of 41510- 41605- 41725- 41815
If the Bank Nifty futures Moves Below 41080 and sustain, then you should Sell with the 1st Target of 41000 the day with a Stop Loss of 41200. For the Target of 41000 – 40909 -40720- 40609
Global Stock Markets Today
On the global front, the other Asian stock market indexes closed lower on Wednesday, as traders prepared for a hefty rate hike by the US Fed, and were further unnerved by Russian President Vladimir Putin’s latest threats. All major key indexes were closed in red.
European stock markets are trading on a mixed note on Wednesday, as all eyes are on Fed’s meeting outcome. The fresh threats from Russia, after the news of the mobilization of extra Russian troops as the war in Ukraine, looked set to intensify. The US futures, Dow, and Nasdaq futures are trading higher at this moment ahead of the Fed’s decision.
Conclusion
Indian markets traded volatile another session ahead of the Fed’s policy outcome later in the day. A 75 bps rate hike was already factored in the markets. The statement of economic forecast after the Fed meeting outcome would be important and will set the market direction. While the fresh threat of Russian forces in Ukraine has escalated geopolitical tension and fears of rising inflation. Tomorrow Indian markets will be volatile, traders should remain extra cautious.
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