Nifty | Bank Nifty Prediction for Tomorrow, 11 Jan 2022
Nifty and Bank Nifty Prediction for Tomorrow, 11 Jan 2022: Indian equity market indices opened higher amid mixed cues from the global markets. Indian markets opened a gap up in the morning and extended their early gains on the back of buying in Nifty PSU banking, media, and auto counters. The broader markets also rallied in line with their larger peers. In the end, Nifty and Sensex reclaim their psychological levels 18000 and 60000 respectively. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 10 Jan (Jan Expiry)
The Nifty futures price opened at 17925, making a positive opening of 70.7 points. It has touched an intraday high at 18058.30 and a day’s low at 17905.20
The Nifty futures price has given a movement of 153.1 points today. In the end, it gained 200.65 points or 1.12 percent and ended at 18054.95 levels.
The Bank Nifty futures opened at 38025, It made a positive opening of 168.05 points today. It has touched an intraday high at 38502 and a day’s low at 38000.15
During the day, the Bank Nifty futures has given a movement of 501.85 points. In the end, it closed higher by 656.30 points or 1.73 percent and closed at 38513.25 levels.
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Nifty & Bank Nifty Prediction for Tomorrow, 11 Jan 2022 (Jan Expiry)
Nifty Futures prediction for Tomorrow, 11 Jan 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18150 whereas All Down Moves Initiates Short Covering (Buy) @ 18020
If the Nifty futures share price Moves Above 18074 and sustain. Then you should Buy with 1st Target of 18095 during the day with a Stop Loss of 18038 FOR the Target of 18095- 18120- 18146
If the Nifty futures share price Moves Below 18002 and is sustained. Then you should Sell with the 1st Target of 17985 during the day with a Stop Loss of 18024. FOR the Target of 17985- 17938- 17907
Bank Nifty Futures prediction for Tomorrow, 11 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39050 whereas All Down Moves Initiates Short Covering (Buy) @ 38400
Suppose the Bank Nifty futures Moves Above 38655 and sustain, then you should Buy with the 1st Target of 38840 during the day with a Stop Loss of 38570 the Target of 38840 – 39050 – 39150
If the Bank Nifty futures Moves Below 38415 and sustain, then you should Sell with the 1st Target of 38180 during the day with a Stop Loss of 38510. FOR the Target of 38180 – 38060 – 37907
Global Stock Markets today
On the global front, Asian markets closed mostly in the green on Monday, despite concerns that the Fed will be raising interest rates at a time of slowing economic growth as a result of the Omicron variant of the coronavirus. European benchmark indexes are trading flat to the negative at this time. The sentiments got hit after UK’s blue-chip index slipped in the morning deal on Monday, as housebuilders were hit by $5.4 billion in costs to remove cladding from buildings. The banking stocks extended gains on expectations of interest rate hikes.
Conclusions
Indian stock markets extended their previous day’s gain and closed one percent higher today. The key benchmark closed above their psychological mark 60K and 18K on the back of buying in Banking, Realty, and Auto counter. The expectation of upbeat Q3 corporate earnings and Institutional buying also supported the markets despite the rising Omicron variants and mixed global cues. Going ahead, the inflation and IIP data which is expected on Wednesday will set the market direction.
Also read, Best 5 Nifty50 Stocks to buy today in India- Jan 2022
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