Nifty and Bank Nifty Prediction for Tomorrow 14 Oct 2022
Nifty and Bank Nifty Prediction for Tomorrow 14 Oct 2022: Indian equity market indexes ended with moderate losses on Thursday amid weak global cues. The weak economic data released on Wednesday hit the market sentiments today. Traders were also cautious ahead of the US inflation data which is due later in the day. Among the sectors, some buying was witnessed in Media Pharma, and Metal stocks while profit booking was seen in Banking and Financial stocks.
The broader markets closed lower in line with their larger peers as Nifty mid and smallcap indexes declined 0.69 percent and 0.50 percent respectively. The market breadth was weak today. At the close, Sensex and Nifty declined 0.68 percent and 0.64 percent respectively on Thursday. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for 13 Oct (Oct Expiry)
The Nifty futures price opened at 17085.25, making a negative opening of 29.55 points today. It has touched an intraday high of 17086.80 and a day’s low of 16927
The Nifty futures price has given a movement of 159.8 points today. In the end, it closed lower by 106.80 points or 0.62 percent and ended at 17008 levels.
The Bank Nifty futures opened at 39001.05 It made a negative opening of 14.9 points. The Bank Nifty futures has touched an intraday high at 39166.50 and a day’s low at 38520.55
During the day, the Bank Nifty futures has given a movement of 645.95 points. In the end, it closed lower by 444.70 points or 1.13 percent and closed at 38770 levels.
Nifty & Bank Nifty Prediction for Tomorrow 14 Oct 2022 (Oct Expiry)
Nifty Futures Prediction for Tomorrow 14 Oct 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17100 whereas All Down Moves Initiates Short Covering (Buy) @ 16800
If the Nifty futures share price Moves Above 17056 and sustain. Then you should Buy with 1st Target of 17080 during the day with a Stop Loss of 17009 FOR the Target of 17080- 17114- 17145- 17176
If the Nifty futures share price Moves Below 16950 and is sustained. Then you should Sell with the 1st Target of 16925 for the day with a Stop Loss of 16985. For the Target of 16925- 16885- 16840- 16802
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Bank Nifty Futures Prediction for Tomorrow 14 Oct 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38900 whereas All Down Moves Initiates Short Covering (Buy) @ 38250
Suppose the Bank Nifty futures Moves Above 38925 and sustain, then you should Buy with the 1st Target of 39020 during the day with a Stop Loss of 38800 and the Target of 39020- 39175- 39315 – 39405
If the Bank Nifty futures Moves Below 38620 and sustain, then you should Sell with the 1st Target of 38530 the day with a Stop Loss of 38760. For the Target of 38530- 38405 -38255- 38150
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Global Stock Markets Today
On the global front, the other Asian market indexes closed in red today. Investors were nervous ahead of the latest US inflation data due later in the day data amid fear of a global recession. The sentiments got hit due to negative cues from Wall Street and uncertainty about the Bank of England’s next move. Japan’s Nikkei fell as traders were cautious after the fresh data showed producer prices rising at their fastest rate in five months.
European stock market indexes are trading higher on Thursday erasing their early losses. The US future indexes, Dow and Nasdaq futures are trading higher now, indicating a positive opening for the US markets.
Conclusion
Indian equity markets closed lower on Thursday amid volatility. The market’s sentiment was hit due to weak inflation data released on Wednesday. Investors were also cautious ahead of the US inflation data which is due later in the day. Tomorrow Indian markets will open as per global cues.
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