Nifty and Bank Nifty Prediction for Tomorrow 15 March 2023
Nifty and Bank Nifty Prediction for Tomorrow 15 March 2023: Indian stock markets ended lower for the fourth straight session on Tuesday. The market sentiments continued to hit due to the turmoil in US lenders. Some cautiousness was also seen ahead of the US retail inflation data due later in the day. However, the downside was limited as India’s WPI inflation in February came cooler than expected.
Among the sectors, Media and Pharma stocks edged higher while selling pressure was witnessed in PSU banks, IT, and metal stocks. The market breadth was weak today. The broader markets closed in red, as Nifty mid and smallcap indexes ended lower by 0.52 percent and 0.83 percent respectively. At the close, Sensex and Nifty declined by 0.58 percent and 0.65 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 14 March
The Nifty futures price opened at 17190 making a slightly negative opening of 15.8 points today. It has touched an intraday high of 17278 and a day’s low of 17071.10
The Nifty futures price has given a movement of 206.9 points today. In the end, it closed lower by 65.80 points or 0.38 percent and ended at 17140 levels.
The Bank Nifty futures opened at 39735.70 It made a negative opening of 30.1 points today. The Bank Nifty futures touched an intraday high at 39949.80 and a day’s low at 39314.85
During the day, the Bank Nifty futures have given a movement of 634.95 points. In the end, it closed lower by only 9.35 points or 0.02 percent and closed at 39696.25 levels.
Nifty & Bank Nifty Prediction for Tomorrow 15 March 2023
Nifty Futures Prediction for Tomorrow 15 March 2023
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17200 whereas All Down Moves Initiates Short Covering (Buy) @ 17000
If the Nifty futures (March Series) share price Moves Above 17165 and sustains. Then you should Buy with the 1st Target of 17204 during the day with a Stop Loss of 17135 FOR the Target of 17205- 17258- 17290- 17349
If the Nifty futures (March Series) share price Moves Below 17097 and is sustained. Then you should Sell with the 1st Target of 17067 for the day with a Stop Loss of 17125. For the Target of 17067- 17014- 16935- 16900
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Bank Nifty Futures Prediction for Tomorrow 15 March 2023
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40000 whereas All Down Moves Initiates Short Covering (Buy) @ 39300
Suppose the Bank Nifty futures (March Series) Moves Above 39865 and sustain, then you should Buy with the 1st Target of 39980 during the day with a Stop Loss of 39770 and the Target of 39980- 40070- 40190- 40275
If the Bank Nifty futures (March Series) Moves Below 39490 and sustain, then you should Sell with the 1st Target of 39410 the day with a Stop Loss of 39710. For the Target of 39410- 39315- 39220- 39135
Global Stock Market Updates
On the global front, the other Asian stock market indexes closed sharply lower on Tuesday. Most of the Asian equity indexes erased their year-to-date gains and end flat in 2023, due to turmoil in banking stocks. Tokyo banking shares tumbled their most since the onset of the Covid-19 pandemic as investors were concerned with the fallout of failed banks in the US, including Silicon Valley Bank.
Nikkei fell sharply despite more assurances from Japanese officials that SVB’s failure will not have a big impact on Japan’s economy or financial system. China and Hong Kong stocks fell to their lowest in more than two months, as the SVB fallout has impacted Chinese startups, particularly those backed by U.S. dollar-denominated funds, while tech stocks dragged the Hang Seng today.
European stock market indexes are trading higher at this moment (5 pm IST) despite the continued selloff in Asian markets, as investors bet on recently beaten-down stocks and following US futures. Investors are now keeping a close watch on the U.S. consumer price index for February, which is due later in the day. The US futures, Dow, and Nasdaq futures are trading higher at this moment, indicating a positive start for the US markets today.
Conclusion
Indian stock markets were trading volatile amid global uncertainty. The domestic markets are likely to remain under pressure unless some positive trigger comes in. Tomorrow markets will first react to the US inflation data which is due later in the day.
Traders should trade with strict stop loss and avoid overnight positions without a hedge. 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
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