Nifty and Bank Nifty Prediction for Tomorrow 16 Nov 2022
Nifty and Bank Nifty Prediction for Tomorrow 16 Nov 2022: Indian equity market indexes closed higher amid volatility on Tuesday. The domestic markets were trading subdued in the first half. However, the markets turned positive in the late session taking positive cues from other Asian market peers. Indian markets made decent gains on the back of buying in banking, auto, and financial services while some profit booking was witnessed in the media, realty, and FMCG stocks today.
The broader markets underperformed against their larger peers as Nifty mid and smallcap indexes closed higher by 0.01 and 0.26 percent respectively. At close, Sensex and Nifty ended higher by 0.40 percent and 0.41 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for Nov 15 (Nov Expiry)
The Nifty futures price opened at 18439 making a positive opening of 59.8 points today. It has touched an intraday high of 18488.80 and a day’s low of 18342.20
The Nifty futures price has given a movement of 146.6 points today. In the end, it closed higher by 103.15 points or 0.56 percent and ended at 18482.35 levels.
The Bank Nifty futures opened at 42305.05 It made a higher opening of 102.4 points. The Bank Nifty futures has touched an intraday high at 42561.05 and a day’s low at 42226
During the day, the Bank Nifty futures have given a movement of 335.05 points. In the end, it closed higher by 358.40 points or 0.85 percent and closed at 42561.05 levels.
Nifty & Bank Nifty Prediction for Tomorrow 16 Nov 2022 (Nov Expiry)
Nifty Futures Prediction for Tomorrow 16 Nov 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18600 whereas All Down Moves Initiates Short Covering (Buy) @ 18350
If the Nifty futures (Nov Series) share price Moves Above 18505 and sustains. Then you should Buy with 1st Target of 18534 during the day with a Stop Loss of 18478 FOR the Target of 18534- 18556- 18586- 18647
If the Nifty futures (Nov Series) share price Moves Below 18437 and is sustained. Then you should Sell with the 1st Target of 18409 for the day with a Stop Loss of 18460. For the Target of 18409- 18380- 18338- 17292
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Bank Nifty Futures Prediction for Tomorrow 16 Nov 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42700 whereas All Down Moves Initiates Short Covering (Buy) @ 42150
Suppose the Bank Nifty futures (Nov Series) Moves Above 42470 and sustain, then you should Buy with the 1st Target of 42550 during the day with a Stop Loss of 42370 and the Target of 42550- 42635- 42720 – 42890
If the Bank Nifty futures (Nov Series) Moves Below 42212 and sustain, then you should Sell with the 1st Target of 42130 the day with a Stop Loss of 42300. For the Target of 42130- 42055- 41885- 41720
Global Stock Markets Today
Asian stock market indexes closed higher on Tuesday, as the sentiments got boosted by stimulus hopes for the property sectors and ease in Covid restrictions in China. The market sentiments were also upbeat due to a meeting held between US President Joe Biden and China’s President Xi Jinping today for 3 hours at Bali, ahead of the G20 gathering.
Nikkei erased early losses today and closed in the green. China’s Industrial output data was not so encouraging but as sentiments were positive Shanghai closed higher while Hang Seng gained more than 4 percent today.
European stock market indexes made a cautious start on Tuesday tracking negative cues from Wall Street. The key European benchmarks are trading almost flat at this moment at 5 pm IST. The US futures, Dow, and Nasdaq futures are trading higher, indicating a positive opening for the US markets today.
Conclusion
Indian stock market indexes made a decent gain in the late trading session. Nifty managed to close above 18400 levels, slowly approaching the all-time high of 18604 levels. Going ahead, markets are looking positive, you can follow our Daily Morning Report at 7.30 AM IST for the market direction.
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