Nifty and Bank Nifty Prediction for Wednesday, Sept 20, 2023
Nifty and Bank Nifty Prediction for Wednesday, Sept 20, 2023: Indian equity benchmarks ended lower on Monday amid weak global cues. Sensex snapped an 11-day winning streak, while Nifty declined after three consecutive days of gains. The key indices traded below their neutral lines throughout the day on the back of selling in Realty, Media, and Metal stocks, while buying witnessed in PSU Bank, Auto, and Energy sectors.
The sentiments were downbeat as investors remain sidelined ahead of a raft of policy decisions this week. The market breadth was negative on Monday, on the NSE, 764 shares were advanced while 1309 shares were declined at the close.
The broader markets closed in the red, as Nifty mid and small-cap indexes declined 0.42 percent and 0.54 percent respectively. At the close, Sensex closed lower by 241.79 points or 0.36 percent and ended at 67596.85 level, while Nifty declined 59.05 points or 0.29 percent and settled at 20133.30 levels. You can read the detailed market updates here
Nifty and Bank Nifty Futures Price Movement for (28 Sept expiry)
The Nifty futures price opened at 20205, making a negative opening of 44.6 points on Monday. It has touched an intraday high of 20234.50 and a day’s low of 20162.30
The Nifty futures price has given a movement of 72.2 points. In the end, it closed lower by 79.60 points or 0.39 percent and ended at 20170 levels.
The Bank Nifty futures opened at 46194.95. It made a negative opening of 93.10 points. The Bank Nifty futures touched an intraday high at 46307 and a day’s low at 45986.30.
During the day, the Bank Nifty futures have given a movement of 320.7 points. In the end, it closed lower by 261.95 points or 0.57 percent and closed at 46026.10 levels.
Nifty & Bank Nifty Prediction for Wednesday, Sept 20, 2023
Nifty Futures Prediction for Tomorrow, Sept 20, 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves can initiate profit Booking @ 20250 whereas All Down Moves can Initiate Short Covering @ 20100
If Nifty futures for the Sept series move above 20208 and sustain. Then Nifty futures can touch 20236 during the day with a Stop Loss of 20185. In a day it could trade in a range of 20236- 20264- 20292 levels.
If the Nifty futures (Sept Series) share price Moves Below 20158 and is sustained. Then Nifty futures can touch 20126 levels for the day with a Stop Loss of 20170. In a day it could trade for the target of 20126- 20095 – 20060 level.
If you want Live trading views for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow, Sept 20, 2023
Primary Trend in Bank Nifty Futures- Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 46250 whereas All Down Moves can Initiate Short Covering @ 45800
Suppose the Sept series Bank Nifty futures move above 46185 and sustain, then Banknifty can touch 46250 levels during the day with a Stop Loss of 45110. During the day Bank Nifty futures could trade in the range of 46250- 46330- 46415 levels.
If the Bank Nifty futures (Sept Series) move below 45970 and sustain, then Banknifty can touch 45890 levels in a day with a Stop Loss of 46060. During the day Bank Nifty futures could trade in the range of 45890- 45810- 45750 levels.
Note:- 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 Free Trading and Demat Account and get Life-Time Demat AMC Free and Rs 20 flat Brokerage.
Global Stock Market Updates
The other Asian stock markets mostly closed lower on Monday, as investors remain cautious ahead of the top Central Bank’s interest rate decisions later this week. Hang Seng index fell the most in the region, as property and technology stocks dragged, with the country’s real estate giants continuing to lurch from one crisis to another.
Japan’s Nikkei was closed today due to a public holiday. Australia’s S&P/ASX ended lower, while South Korea’s Kospi extended early losses and fell about 1%. The Shanghai index erased early losses and ended higher today. Elsewhere, Straits Times, SET Composite, Jakarta, and Taiwan all closed in the red.
European stock markets are trading lower on Monday, following the negative cues from Asian markets. Investors remain sidelined ahead of the U.S. Federal Reserve monetary policy outcome on Wednesday and closely watching the latest developments in China’s struggling property market.
The US future indexes Dow and Nasdaq futures are trading lower at 5.30 pm IST, indicating a negative opening for the US stock markets today. You can also follow our US markets Report at 10 PM IST.
Conclusion
As we talked about in the report from last Saturday, Indian stock markets took a pause on Monday. The sentiments were downbeat, as investors are worried about rising crude oil prices, a strengthening dollar index, and higher US Treasury yields.
Investors preferred to remain sidelined ahead of the US Federal Reserve monetary policy decisions on Wednesday. Indian stock markets will remain closed on Tuesday, 19 September on account of Ganesh Chaturthi. Indian equity markets will open on Wednesday as per global cues. You can follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Stock Market Prediction Next Week (18-22 Sept 2023)
If you like the post “Nifty and Bank Nifty Prediction for Wednesday, Sept 20, 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 the accuracy, adequacy, or completeness of any information. 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.
