Nifty and Bank Nifty Prediction for Tomorrow 15 Nov 2022
Nifty and Bank Nifty Prediction for Tomorrow 15 Nov 2022: The Indian equity markets ended with a minor cut on Monday amid mixed global cues today. The downside of the markets was limited, as the wholesale price-based inflation declined to a 19-month low at 8.39% in October as against 10.7 in the previous month. Some cautiousness was also there in the markets as retail inflation readings were expected later in the day.
The market breadth was negative today, among the sectors, the metals, realty, and IT stocks witnessed some buying while the media, FMCG, and PSU Bank stocks declined. The broader markets outperformed the benchmarks today, as Nifty mid and small-cap indexes closed in the green. At the close, Sensex and Nifty closed slightly lower by 0.28 percent and 0.11 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for Nov 14 (Nov Expiry)
The Nifty futures price opened at 18432.70 making a positive opening of 8.7 points today. It has touched an intraday high of 18455 and a day’s low of 18362.65
The Nifty futures price has given a movement of 92.35 points today. In the end, it closed lower by 53.90 points or 0.29 percent and ended at 18370.10 levels.
The Bank Nifty futures opened at 42325.10 It made a slightly higher opening of 31.8 points. The Bank Nifty futures has touched an intraday high at 42371 and a day’s low at 42100
During the day, the Bank Nifty futures have given a movement of 271 points. In the end, it closed lower by 84 points or 0.20 percent and closed at 42209.30 levels.
Nifty & Bank Nifty Prediction for Tomorrow 15 Nov 2022 (Nov Expiry)
Nifty Futures Prediction for Tomorrow 15 Nov 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18500 whereas All Down Moves Initiates Short Covering (Buy) @ 18250
If the Nifty futures (Nov Series) share price Moves Above 18415 and sustains. Then you should Buy with 1st Target of 18450 during the day with a Stop Loss of 18370 FOR the Target of 18450- 18488- 18521- 18547
If the Nifty futures (Nov Series) share price Moves Below 18321 and is sustained. Then you should Sell with the 1st Target of 18280 for the day with a Stop Loss of 18355. For the Target of 18280- 18245- 18209- 17170
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Bank Nifty Futures Prediction for Tomorrow 15 Nov 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42600 whereas All Down Moves Initiates Short Covering (Buy) @ 42000
Suppose the Bank Nifty futures (Nov Series) Moves Above 42415 and sustain, then you should Buy with the 1st Target of 42530 during the day with a Stop Loss of 42230 and the Target of 42530- 42640- 42750 – 42825
If the Bank Nifty futures (Nov Series) Moves Below 42090 and sustain, then you should Sell with the 1st Target of 42000 the day with a Stop Loss of 42185. For the Target of 42000- 41910- 41790- 41700
Global Stock Markets Today
Asian stock market indexes pared some early gains and closed mixed on Monday, with Hang Seng leading the gains and adding almost 300 points today. Japan’s Nikkei was down over 1 percent as the yen weakened 1.07% against the dollar. Chinese index Shanghai erased early gains and closed lower despite relaxation in covid restrictions even after surging new cases and support to the property sectors.
However, the downside was capped after the news about some extra support for the embattled property sector in China, with the country’s real estate index ending higher by 5% on Monday.
European stock market indexes opened higher and continued to trade in the green zone following the mixed cues from Asian market peers. The US future index, Dow, and Nasdaq futures indexes are trading lower at 5 pm IST, indicating a lower opening for the US markets.
Conclusion
Indian stock markets traded in a narrow range today, as investors were cautious ahead of the inflation data. Markets were under pressure despite the favorable WPI inflation numbers. Tomorrow, the markets will first react to the CPI number, which is expected later in the day, and then follow the global cues. You can read our Daily Morning Report at 7.30 am for the Market Direction
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