Nifty and Bank Nifty Prediction for Tomorrow 13 Dec 2022
Nifty and Bank Nifty Prediction for Tomorrow 13 Dec 2022: Indian equity benchmark indices ended flat after a volatile trading session on Monday. The sentiments were subdued due to weak global cues. The market participants were also cautious ahead of the domestic inflation and IIP data, which was due later in the day. Among the sectors, PSU Banks, Oil & Gas, and Realty were in demand while some selling pressure was witnessed in IT, Pharma, and Consumer Durables.
The market breadth was positive today. The broader markets outperform the benchmarks, as Nifty mid and smallcap indexes closed higher by 0.36 percent and 0.55 percent respectively. At the close, Sensex was down by 51.10 points while Nifty was almost flat. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 12 Dec (Dec Expiry)
The Nifty futures price opened at 18520 making a negative opening of 63.65 points today. It has touched an intraday high of 18638.65 and a day’s low of 18456.15
The Nifty futures price has given a movement of 182.5 points today. In the end, it closed higher by 21.85 points or 0.12 percent and ended at 18605.50 levels.
The Bank Nifty futures opened at 43625 It made a negative opening of 148.1 points. The Bank Nifty futures touched an intraday high at 43935.90 and a day’s low at 43561
During the day, the Bank Nifty futures have given a movement of 374.9 points. In the end, it closed higher by 97.90 points or 0.22 percent and closed at 43871 levels.
Nifty & Bank Nifty Prediction for Tomorrow 13 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Tomorrow 13 Dec 2022
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18700 whereas All Down Moves Initiates Short Covering (Buy) @ 18400
If the Nifty futures (Dec Series) share price Moves Above 18630 and sustains. Then you should Buy with 1st Target of 18670 during the day with a Stop Loss of 18590 FOR the Target of 18670- 18702- 18740
If the Nifty futures (Dec Series) share price Moves Below 18530 and is sustained. Then you should Sell with the 1st Target of 18495 for the day with a Stop Loss of 18570. For the Target of 18495- 18458- 18418
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Bank Nifty Futures Prediction for Tomorrow 13 Dec 2022
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 44200 whereas All Down Moves Initiates Short Covering (Buy) @ 43600
Suppose the Bank Nifty futures (Dec Series) Moves Above 43970 and sustain, then you should Buy with the 1st Target of 44050 during the day with a Stop Loss of 43830 and the Target of 44050- 44185 – 44265
If the Bank Nifty futures (Dec Series) Moves Below 43690 and sustain, then you should Sell with the 1st Target of 43600 the day with a Stop Loss of 43775. For the Target of 43600- 43530- 43450
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Global Stock Market Updates
On the global front, the other Asian market indexes closed lower on Monday as traders worried over soaring US inflation and feared interest rate hikes by the Fed next week. The key Asian stock market indexes started the week on a downbeat note giving up their gains from last week.
Japan’s Nikkei closed lower, as its tech and growth shares dragged the markets following the negative cues from the US on Friday. Chinese blue chips dragged the markets while the Hang Seng index was down as the focus now shifted from Covid-19 curbs to the surge in infection.
European markets are trading marginally lower following the negative cues from Asian markets and due to cautiousness ahead of the Fed and BoE interest rate decision. The US future indexes, Dow and Nasdaq futures are trading marginally higher at 5.30 pm IST, indicating a positive opening for the US markets today.
Conclusion
Indian equity markets closed flat on Monday amid volatility. The market participants were cautious ahead of the Inflation and IIP data. The latest data released showed that India’s CPI-based inflation eases to 11 month low at 5.88% in November, while IIP contracted to 4% in October. The retail inflation rate came in RBI’s tolerance band of 2-6% first time after 10 consecutive months. Indian equity markets will react positively to the cooler-than-expected inflation data on Tuesday.
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