Nifty and Bank Nifty Prediction for Tomorrow 11 Jan 2023

 

Nifty and Bank Nifty Prediction for Tomorrow 11 Jan 2023: The equity benchmarks ended with major losses on Tuesday. The market sentiments were downbeat due to weak global cues. Traders were cautious ahead of the US Fed Chair Powell’s speech, later in the day for more clues on the rate hike path. Barring auto and  healthcare all other sectoral indices ended in the red today, with banks, financial services, and media share falling the most

The market breadth was negative today. The volatility index India VIX jumped over 5 percent today. The broader markets closed lower, as Nifty mid and smallcap indexes fell 0.50 percent and 0.59 percent respectively. At the close, Sensex and Nifty declined by 1.04 percent and 1.03 percent respectively on Tuesday. You can read detailed market updates here.

 

Nifty and Bank Nifty futures price movement for 10 Jan

 

The Nifty futures price opened at 18173.20 making a flat opening today. It has touched an intraday high of 18178 and a day’s low of 17925.15

The Nifty futures price has given a movement of 252.85 points today. In the end, it closed lower by 184.75 points or 1.02 percent and ended at 17988.45 levels.

The Bank Nifty futures opened at 42700 It made a negative opening of 67.35 points. The Bank Nifty futures touched an intraday high at 42774.80 and a day’s low at 42005.10

During the day, the Bank Nifty futures have given a movement of 769.7 points. In the end, it closed lower by 545.15 points or 1.27 percent and closed at 42222.20  levels.

 

Nifty & Bank Nifty Prediction for Tomorrow 11 Jan 2023 (Jan Expiry)

 

 

Nifty Futures Prediction for Tomorrow 11 Jan 2023

 

Primary Nifty Trend in futures: Negative 

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18050 whereas All Down Moves Initiates Short Covering (Buy) @ 17800

If the Nifty futures share price Moves Above 18022 and sustain. Then you should Buy with the 1st Target of 18054 during the day with a Stop Loss of 17985 FOR the Target of 18054- 18084- 18106- 18138

If the Nifty futures (Jan Series) share price Moves Below 17958 and is sustained. Then you should Sell with the 1st Target of 17927 for the day with a Stop Loss of 17974. For the Target of 17927- 17875- 17834- 17802

 

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Bank Nifty Futures Prediction for Tomorrow 11 Jan 2023

 

Primary Trend of  Bank Nifty Futures: Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42500 whereas All Down Moves Initiates Short Covering (Buy) @ 41800

Suppose the Bank Nifty futures (Jan Series) Moves Above 42418 and sustain, then you should Buy with the 1st Target of 42525 during the day with a Stop Loss of  42330 and the Target of 42525- 42655 – 42760- 42820

If the Bank Nifty futures (Jan Series) Moves Below 42115 and sustain, then you should Sell with the 1st Target of 42018 the day with a Stop Loss of 42260. For the Target of  42018- 41916- 41835- 41738

 

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Global Stock Market Updates

 

On the global front, other Asian stock market indexes slipped on Tuesday, as investors doubt China’s post-covid recovery and US rate hike fear. After rolling back painful zero-covid policy curbs in China for nearly after three years, traders were betting on a forceful bounceback for the World’s second-largest economy. However, traders are now less optimistic about the pace of recovery after crunching the numbers and taking into account the gloomy global picture.

Japan’s traders are back on the trading floor after a long weekend. The Nikkei index gained with the support of technology stocks, however, the upside remained capped due to caution ahead of next week’s meeting of the Bank of japan. Shanghai and Hang Seng closed lower on Tuesday.

European stock market indexes are trading lower on Tuesday tracking negative cues from Wall Street overnight and Asian market peers, as the hawkish comment from two Federal Reserve policymakers hits market sentiments. The US future indexes, Dow Jones and Nasdaq futures are trading in the red, indicating a lower opening for the US stock markets today.

 

Conclusion

 

Indian markets fell sharply amid weak global cues, banking, and financial sectors dragged down the markets. The sentiment was hit after two Fed officials made hawkish comments on Monday. Going ahead, tomorrow markets will open as per the global cues as the US fed Chai Powell’s speech is due later in the day. You can also follow our Daily Morning Report at 7.30 am for market direction.

 

Also, read   Best Options Trading Books in India-Must Read 2022

                      Tradingview India Review 2022- You Must Read    

 

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Editor’s Desk

 

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