Nifty and Bank Nifty Prediction for Tomorrow 11 April 2023
Nifty and Bank Nifty Prediction for Tomorrow 11 April 2023: The Indian equity market indexes ended with little changes after a volatile session for the sixth trading session on Monday. The domestic markets erased most of their intraday gains after the private weather forecaster Skymet said the monsoon will be below normal this year. Investors were also cautious ahead of the economic data and FOMC minutes scheduled during the week.
Among the sectors, Realty, Auto, Energy, and IT sectors were in demand while Financial Services, FMCG, and Banking witnessed some selling pressure. The market breadth was positive today, on NSE 1019 shares were in advance while 947 shares were declined.
The broader markets outperformed the frontline index, as Nifty mid and smallcap indexes gained 0.38 percent and 0.28 percent respectively. At the close, Sensex and Nifty advanced by 0.02 percent and 0.14 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 10 April
The Nifty futures price on Monday opened at 17671 making a positive opening of 26.8 points today. It has touched an intraday high of 17754 and a day’s low of 17653.60
The Nifty futures price has given a movement of 100.4 points today. In the end, it closed higher by 32.80 points or 0.19 percent and ended at 17677 levels.
The Bank Nifty futures on Monday opened at 41239.60 It made a positive opening of 69.95 points today. The Bank Nifty futures touched an intraday high at 41239.65 and a day’s low at 40866.40
During the day, the Bank Nifty futures have given a movement of 373.25 points. In the end, it closed lower by 217.65 points or 0.53 percent and closed at 40952 levels.
Nifty & Bank Nifty Prediction for Tuesday 11 April 2023
Nifty Futures Prediction for Tuesday 11 April 2023
Primary Trend in Nifty Futures: Sideways negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17750 whereas All Down Moves Initiates Short Covering (Buy) @ 17550
If the Nifty futures (April Series) share price Moves Above 17715 and sustains. Then you should Buy with the 1st Target of 17747 during the day with a Stop Loss of 17670 FOR the Target of 17747- 17780- 17812- 17835
If the Nifty futures (April Series) share price Moves Below 17592 and is sustained. Then you should Sell with the 1st Target of 17558 for the day with a Stop Loss of 17630. For the Target of 17558- 17527- 17480- 17455
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Bank Nifty Futures Prediction for Tuesday 11 April 2023
Primary Trend in Bank Nifty Futures: Sideways negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41350 whereas All Down Moves Initiates Short Covering (Buy) @ 40900
Suppose the Bank Nifty futures (April Series) Moves Above 41125 and sustain, then you should Buy with the 1st Target of 41180 during the day with a Stop Loss of 41040 and the Target of 41180- 41256- 41330- 41410
If the Bank Nifty futures (April Series) Moves Below 40840 and sustain, then you should Sell with the 1st Target of 40760 the day with a Stop Loss of 40980. For the Target of 40760- 40680- 40600- 40530
Global Stock Market Updates
On the global front, Asian stock markets were mostly closed higher on Monday, as some investors returned from a long weekend. The U.S. monthly jobs report showed a tight labor market which suggested that the Federal Reserve will again raise interest rates in its next month meeting.
European, Australian, and Hong Kong stock markets are closed today on account of the Easter Holiday. Nikkei and Kospi ended higher while the Shanghai index closed lower on Monday. The US futures index, Dow futures are trading slightly higher while Nasdaq futures are trading in the red at this moment ( 5 pm IST)
Conclusion
The Indian stock markets ended on a flat note on Monday after a volatile session. Investors remain cautious ahead of the Q4 earnings, economic data, and FOMC minutes. Going ahead, we may see a small correction in the markets which will be a good opportunity for investors to buy quality stocks on dips. You can follow our Daily Morning Report at 7.30 am for market direction.
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