Nifty & Bank Nifty Prediction for Tomorrow, 12 Jan 2022
Nifty & Bank Nifty Prediction for Tomorrow, 12 Jan 2022: Indian equity market indices opened slightly lower on Tuesday amid negative cues from the global markets. The markets after initial volatility traded above their neutral levels today. The Energy, IT, and Realty sectors tried to support the markets whereas Metal and FMCG were traded negatively.
The broader markets also closed higher today. In the end, the key benchmark indices Sensex and Nifty extended their previous day’s gain and closed on a strong note. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 11 Jan (Jan Expiry)
The Nifty futures price opened at 18026.65, making a negative opening of 21.55 points. It has touched an intraday high at 18121 and a day’s low at 17994.75
The Nifty futures price has given a movement of 126.25 points today. In the end, it gained 36.85 points or 0.20 percent and ended at 18085.05 levels.
The Bank Nifty futures opened at 38477.85, It made a positive opening of 9.5 points today. It has touched an intraday high at 38634.95 and a day’s low at 38180
During the day, the Bank Nifty futures has given a movement of 454.95 points. In the end, it closed higher by 86.65 points or 0.23 percent and closed at 38555 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 12 Jan 2022 (Jan Expiry)
Nifty Futures prediction for Tomorrow, 12 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) @ 18040
If the Nifty futures share price Moves Above 18115 and sustain. Then you should Buy with 1st Target of 18146 during the day with a Stop Loss of 18094 FOR the Target of 18146- 18176- 18209
If the Nifty futures share price Moves Below 18070 and is sustained. Then you should Sell with the 1st Target of 18045 during the day with a Stop Loss of 18086. FOR the Target of 18045- 18009- 17992
Bank Nifty Futures prediction for Tomorrow, 12 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38900 whereas All Down Moves Initiates Short Covering (Buy) @ 38200
Suppose the Bank Nifty futures Moves Above 38725 and sustain, then you should Buy with the 1st Target of 38835 during the day with a Stop Loss of 38640 the Target of 38835 – 38976 – 39150
If the Bank Nifty futures Moves Below 38425 and sustain, then you should Sell with the 1st Target of 38185 during the day with a Stop Loss of 38550. FOR the Target of 38185 – 38070 – 37915
Global markets today
On the global front, Asian markets were closed mostly lower on Tuesday as fears of a sooner than expected interest rate hike by the US Federal Reserve to tackle rising inflation and increasing cases of the Omicron covid variant kept investors on the back foot globally.
European markets are trading higher on the expectation of better quarterly earnings and ahead of the US inflation data expected tomorrow 12 January. The US future indexes, Dow and Nasdaq futures are trading higher at 5 pm IST
Conclusions
Indian stock markets continued their upward journey for the third trading session today. Initially, the weak global cues were weighing the market sentiments today, but later IT and Energy stocks helped the markets to close higher.
Going ahead, traders should remain cautious in the coming two days, as the market will remain volatile due to inflation data of China, India, and the US. The three Nifty50 IT companies are also going to announce their Q3 earnings tomorrow 12 January.
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