Nifty and Bank Nifty Prediction for Tomorrow 14 March 2023
Nifty and Bank Nifty Prediction for Tomorrow 14 March 2023: Indian equity benchmarks closed sharply lower for the third consecutive session on Monday. The market sentiments were hit due to weak global cues, following the Silicon Vally Bank crisis. Investors were also cautious ahead of the retail inflation data, which is expected later in the day.
The NSE volatility index, India VIX, a gauge of market volatility jumped 20.89% to 16.22 levels. The market breadth was very weak, as 238 shares advanced while 1827 shares declined on NSE today. All sectoral indices closed in the red today with PSU Bank, Media, and Nifty Bank falling the most.
The broader markets underperformed the benchmarks, as Nifty mid and smallcap indexes fell 1.99 percent and 2.23 percent respectively. At the close, Nifty and Sensex declined 1.49 percent and 1.52 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 13 March
The Nifty futures price opened at 17460 making a slightly positive opening of 7.45 points today. It has touched an intraday high of 17573.95 and a day’s low of 17159.05
The Nifty futures price has given a movement of 414.9 points today. In the end, it closed lower by 232.55 points or 1.33 percent and ended at 17220 levels.
The Bank Nifty futures opened at 40500 It made a negative opening of 114.5 points today. The Bank Nifty futures touched an intraday high at 40834.55 and a day’s low at 39586.65
During the day, the Bank Nifty futures have given a movement of 1247.9 points. In the end, it closed lower by 839.50 points or 2.07 percent and closed at 39775 levels.
Nifty & Bank Nifty Prediction for Tomorrow 14 March 2023
Nifty Futures Prediction for Tomorrow 14 March 2023
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17325 whereas All Down Moves Initiates Short Covering (Buy) @ 17050
If the Nifty futures (March Series) share price Moves Above 17284 and sustains. Then you should Buy with the 1st Target of 17326 during the day with a Stop Loss of 17247 FOR the Target of 17326- 17374- 17417- 17454
If the Nifty futures (March Series) share price Moves Below 17174 and is sustained. Then you should Sell with the 1st Target of 17125 for the day with a Stop Loss of 17220. For the Target of 17125- 17092- 17065- 17037
If you want Live Trading calls for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 14 March 2023
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39950 whereas All Down Moves Initiates Short Covering (Buy) @ 39400
Suppose the Bank Nifty futures (March Series) Moves Above 39960 and sustain, then you should Buy with the 1st Target of 40060 during the day with a Stop Loss of 39810 and the Target of 40060- 40150- 40285- 40415
If the Bank Nifty futures (March Series) Moves Below 39550 and sustain, then you should Sell with the 1st Target of 39460 the day with a Stop Loss of 39700. For the Target of 39460- 39385- 39310- 39230
Global Stock Market Updates
On the global front, Asian markets were closed mixed on Monday, as investors were fretting over the collapse of the US-lender Silicon Valley Bank and Signature Bank over the weekend. Though sentiments improved after US Federal Reserves announced a range of measures to support the banking system during the week.
Japan’s Nikkei index extended its losses, as its automaker’s stocks slipped amid pressure from a stronger yen. Banking stocks also fell sharply following the negative cues from Wall Street overnight. China’s Shanghai and Heng Seng indexes gained, not only from the US Fed’s rescue package but also due to fresh signs of China’s recovery.
The sentiments were also boosted as Beijing surprised traders by keeping the head of the central bank and finance minister in their posts at the annual session of parliament on Sunday.
The European stocks markets are trading sharply lower over 2 percent lower, as banking stocks declined above 4% after HSBC rescues Silicon Vally Bank UK. The US futures, Dow Jones, and Nasdaq futures are trading mixed, Dow future is trading slightly lower while the Nasdaq future is up at this moment.
Conclusion
Heavy selling pressure was witnessed in the market today due to the uncertainty and the crisis of US mid and small-size banks. Though it has no direct impact on Asian economies but could be a warning sign to other lenders. This has created nervousness among global traders.
The volatility in the market will continue unless there is some clarity regarding the crisis. Meanwhile, India’s CPI inflation eased to 6.44% in February, as widely expected, it was reported at 6.52% in January. Tomorrow markets will open as per global cues. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 14 March 2023” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
