Nifty | Bank Nifty Prediction for Tomorrow 16 March 2022
Nifty and Bank Nifty Prediction for Tomorrow 16 March 2022: Indian stock markets opened higher on Tuesday despite negative indications from other Asian market peers. Markets erased early gains and traded volatile in the first half. A sharp selloff was witnessed in the second half on the back of selling in Metal, IT, and Energy stocks. Heavy selling witness across the board, barring Auto and FMCG all other sectors closed in the red today.
In the end, the key indices closed lower, more than 1 percent today. If you want to read the reasons for the market crash today, you can read detailed market updates here.
Nifty and Nifty Bank futures price movement for 15 March (March Expiry)
The Nifty futures price opened at 16890, making a slightly positive opening of 4.6 points. It has touched an intraday high of 16928.90 and a day’s low of 16556.70
The Nifty futures price has given a movement of 372.2 points today. In the end, it closed lower by 236.80 points or 1.40 percent and ended at 16648.60 levels.
The Bank Nifty futures opened at 35400, It made a positive opening of 80.95 points. The Bank Nifty futures has touched an intraday high at 35675 and a day’s low at 34703.60
During the day, the Bank Nifty futures has given a movement of 971.4 points. In the end, it closed lower by 389.05 points or 1.10 percent and closed at 34930 levels.
Nifty & Bank Nifty Prediction for Tomorrow 16 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 16 March 2022
Primary Nifty Trend in futures: Volatile with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16800 whereas All Down Moves Initiates Short Covering (Buy) @ 16450
If the Nifty futures share price Moves Above 16715 and sustain. Then you should Buy with 1st Target of 16754 during the day with a Stop Loss of 16665 FOR the Target of 16754- 16778- 16802- 16836
If the Nifty futures share price Moves Below 16549 and is sustained. Then you should Sell with the 1st Target of 16515 for the day with a Stop Loss of 16615. FOR the Target of 16515-16475- 16446- 16414
Do you need an analytical tool that can help you to make a 6-10% monthly return in the stock market? Click here to know more and register for 7 days demo.
Bank Nifty Futures Prediction for Tomorrow 16 March 2022
Primary Trend of Bank Nifty Futures: Volatile with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35300 whereas All Down Moves Initiates Short Covering (Buy) @ 34500
Suppose the Bank Nifty futures Moves Above 35060 and sustain, then you should Buy with the 1st Target of 35150 during the day with a Stop Loss of 34960 the Target of 35150- 35280- 35430- 35550
If the Bank Nifty futures Moves Below 34720 and sustain, then you should Sell with the 1st Target of 34610 the day with a Stop Loss of 34850. FOR the Target of 34610 – 34490 – 34415- 34250
Global Stock Markets today
On the global front, Asain markets mostly closed in the red on Tuesday due to the surge in covid cases in China, geopolitical tension, and fear of hawkish Fed policy. Shanghai was down by 4.95 percent while Hang Seng declined 5.72 percent due to a rise in covid cases. The resurgence of covid cases, lockdown imposed in several business places, threatened the outlook for the world’s second-largest economy.
European markets fell sharply at the open on Tuesday as Russian shells fell on the outskirts of the Ukrainian capital Kyiv, killing civilian populations. Investors’ sentiments were hit due to the surge in covid cases and restrictions imposed in China. The US futures, Dow Jones, and Nasdaq futures are trading marginally higher at this time at 5.30 pm IST.
Conclusion
Indian equity markets snap 5 days winning streak and ended in the red today. Indian markets started on a positive note in the morning due to falling crude oil prices and a decline in FIIs selling. A profit booking was seen in the second half due to rising covid cases in China and higher US long-term bond yields. Indian markets will remain volatile tomorrow ahead of the Fed’s meeting outcome, which is expected later in the day. Traders should avoid taking any carry forward their position tomorrow.
Also read: Best Options Trading Books in India-Must Read 2021
Best Stock Market Apps- Must Read Review 2021
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 16 March 2022″ please share it with your friends and 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.
