Nifty and Bank Nifty Prediction for Tomorrow 23 Sept 2022
Nifty and Bank Nifty Prediction for Tomorrow 23 Sept 2022: Indian equity market indexes closed lower on Thursday amid negative global cues. The market sentiments were downbeat, as Fed hiked its key interest rate by 75 basis points on Wednesday for the third consecutive time. The trading was volatile, due to the expiry of the weekly index options on the NSE.
Among the sectors, Media, FMCG, and Auto sectors closed higher while Banking and Financial services closed in the red. The broader markets outperformed the frontline indexes today, as Nifty mid and smallcap indexes closed higher by 0.34 percent and 0.60 percent respectively. At the close, Sensex and Nifty closed lower by 0.57 percent and 0.50 percent respectively.
Nifty and Bank Nifty futures price movement for 22 Sept (Sept Expiry)
The Nifty futures price opened at 17626, making a negative opening of 105.45 points today. It has touched an intraday high of 17747.40 and a day’s low of 17542.35
The Nifty futures price has given a movement of 205.05 points today. In the end, it closed lower by 78.60 points or 0.44 percent and ended at 17652.85 levels.
The Bank Nifty futures opened at 40978 It made a negative opening of 266.95 points. The Bank Nifty futures has touched an intraday high at 41218 and a day’s low at 40413
During the day, the Bank Nifty futures has given a movement of 805 points. In the end, it closed lower by 523.95 points or 1.27 percent and closed at 40721 levels.
Nifty & Bank Nifty Prediction for Tomorrow 23 Sept 2022 (Sept Expiry)
Nifty Futures Prediction for Tomorrow 23 Sept 2022
Primary Nifty Trend in futures: Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17800 whereas All Down Moves Initiates Short Covering (Buy) @ 17550
If the Nifty futures share price Moves Above 17722 and sustain. Then you should Buy with 1st Target of 17745 during the day with a Stop Loss of 17685 FOR the Target of 17745- 17780- 17805- 17840
If the Nifty futures share price Moves Below 17623 and is sustained. Then you should Sell with the 1st Target of 17592 for the day with a Stop Loss of 17655. For the Target of 17592- 17558- 17535- 17500
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Bank Nifty Futures Prediction for Tomorrow 23 Sept 2022
Primary Trend of Bank Nifty Futures: Negative & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40950 whereas All Down Moves Initiates Short Covering (Buy) @ 40250
Suppose the Bank Nifty futures Moves Above 40870 and sustain, then you should Buy with the 1st Target of 40956 during the day with a Stop Loss of 40700 and the Target of 40956- 41090- 41225- 41380
If the Bank Nifty futures Moves Below 40570 and sustain, then you should Sell with the 1st Target of 40490 the day with a Stop Loss of 40665. For the Target of 40490 – 40400 -40270- 40150
Global Stock Markets Today
On the global front, the other Asian stock market indexes were closed in the red on Thursday. following the broadly negative cues from Wall Street overnight. Hong Kong stocks hit a near 11-year low and Japan shares slipped to a two-month low point, while China markets saw their losses capped by some bargain-buying.
European stock market indexes are trading lower, as the Bank of England raised its key interest rate by another half-percentage point Thursday. The US future indexes, Dow Jones and Nasdaq futures are trading slightly lower at 5.30 pm IST.
Conclusion
Indian stock markets reacted negatively on Thursday, as the US Federal Reserve was hawkish and that fuelled pessimism amongst the investors. Technically, Indian markets are looking bearish as of now, tomorrow markets will open as per global cues.
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