Nifty and Bank Nifty Prediction for Tomorrow, 11 Nov 2021
Nifty and Bank Nifty Prediction for Tomorrow, 11 Nov 2021: Indian stock markets opened lower on Wednesday following the negative cues from the global market peers. The key indices were trading on a negative bias in the morning deals due to subdued global markets, rise in crude oil prices, and FIIs outflow. In the second half, markets erased most of their losses and closed marginally lower on the back of buying in the auto, pharma, and energy stocks. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 10 November (Nov Expiry)
The Nifty futures price opened at 17989.65, making a negative opening of 80.75 points today. It has touched an intraday high at 18086 and a day’s low at 17925.20
The Nifty futures price has given a movement of 160.8 points today. In the end, it fell 55.40 points or 0.31 percent and ended at 18015 levels.
The Bank Nifty futures opened at 39337. It made a negative opening of 207.6 points today. It has touched an intraday high at 39350 and a day’s low at 38985.95
During the day, the Bank Nifty in futures has given a movement of 364.05 points. In the end, it closed lower by 444.60 points or 1.12 percent and closed at 39100 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 11 Nov 2021 (Nov Expiry)
Nifty Futures prediction for Tomorrow, 11 Nov 2021
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18120 whereas All Down Moves Initiates Short Covering (Buy) @ 17980
If the Nifty futures share price Moves Above 18054 and sustain. Then you should Buy with 1st Target of 18086 during the day with a Stop Loss of 18009 FOR the Target of 18086- 18124- 18154
If the Nifty futures share price Moves Below 17942 and is sustained. Then you should Sell with the 1st Target of 17924 during the day with a Stop Loss of 17980. FOR the Target of 17924- 17900- 17867
Bank Nifty Futures predictions for Tomorrow, 11 Nov 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39350, whereas All Down Moves Initiates Short Covering (Buy) @ 38950
Suppose the Bank Nifty futures Moves Above 39230 and sustain, then you should Buy with the 1st Target of 39340 during the day with a Stop Loss of 39120. FOR the Target of 39340 – 39440 – 39570
If the Bank Nifty futures Moves Below 38950 and sustain, then you should Sell with the 1st Target of 38850 during the day with a Stop Loss of 39060. FOR the Target of 38850 – 38760 – 38630
Global markets today
On the global front, Asian markets closed mostly in the red on Wednesday as China’s inflation data disappointed the markets. The CPI-based inflation in China rose 1.5% in October year-on-year, as compared with September’s 0.7% rise. The producer price index (PPI) also climbed 13.5% as compared to the previous year and faster than the 10.7% rise in September.
European market indexes are trading mostly in the red as traders are cautious ahead of the US inflation data that are expected later today. The US future indexes, Dow Jones and Nasdaq futures are trading marginally lower at this time 4.30 PM.
Conclusions
Indian stock market indexes closed marginally lower on Wednesday. After opening a gap down markets recovered most of their losses but were not able to close in the green. Nifty managed to hold the 18k levels is a positive sign for the markets. Traders were cautious ahead of the US inflation data expected later today and continuous foreign outflow. Tomorrow, Indian markets are expected to open as per the global cues only.
Also read, Best stocks to buy in India for the short term in November 2021
Stock Market Next Week (8 to 12 Nov 2021)- Expert’s View
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