Nifty and Bank Nifty Prediction for Tomorrow 17 Feb 2022
Nifty and Bank Nifty Prediction for Tomorrow 17 Feb 2022: Indian stock markets opened higher on Wednesday tracking positive cues from the global markets. Indian markets gave up most of their gains after a few minutes and traded volatile throughout the day. Markets were choppy despite strength across the global markets amid easing Russia-Ukraine tension.
Indian markets took some support on account of buying in Realty, Pharma and Energy stocks whereas PSU Bank, Metals, and Media stocks tried to drag the markets. In the end, the key benchmark indices closed marginally lower today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 16 February (Feb Expiry)
The Nifty futures price opened at 17390, making a positive opening of 29.35 points. It has touched an intraday high of 17495 and a day’s low at 17240.15
The Nifty futures price has given a movement of 254.85 points today. In the end, it declined 62.75 points or 0.36 percent and ended at 17297 levels.
The Bank Nifty futures opened at 38300, It made a positive opening of 112.75 points. The Bank Nifty futures has touched an intraday high at 38475 and a day’s low at 37771.25
During the day, the Bank Nifty futures has given a movement of 703.75 points. In the end, it closed lower by 374.80 points or 0.98 percent and closed at 37812.45 levels.
Nifty & Bank Nifty Prediction for Tomorrow 17 Feb 2022 (Feb Expiry)
Nifty Futures Prediction for 17 Feb 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17400 whereas All Down Moves Initiates Short Covering (Buy) @ 17200
If the Nifty futures share price Moves Above 17335 and sustain. Then you should Buy with 1st Target of 17365 during the day with a Stop Loss of 17302 FOR the Target of 17365- 17395- 17436
If the Nifty futures share price Moves Below 17240 and is sustained. Then you should Sell with the 1st Target of 17212 for the day with a Stop Loss of 17275. FOR the Target of 17212- 17190- 17145
Bank Nifty Futures Prediction for 17 Feb 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38400 whereas All Down Moves Initiates Short Covering (Buy) @ 37700
Suppose the Bank Nifty futures Moves Above 37975 and sustain, then you should Buy with the 1st Target of 38080 during the day with a Stop Loss of 37900 the Target of 38080 – 38225 – 38380
If the Bank Nifty futures Moves Below 37700 and sustain, then you should Sell with the 1st Target of 37595 during the day with a Stop Loss of 37825. FOR the Target of 37595 – 37480 – 37385
Global Stock Markets today
On the global front, the other Asian markets rebounded on Wednesday, as hopes rose that Russia won’t invade Ukraine now after Moscow pulled back some of its troops from the Ukraine border. Investors got some relief as the crude oil prices fell after the news.
European markets opened higher but erased all early gains and trading flat to the negative at this moment at 5 pm IST. The market sentiments have become subdued due to inflation concerns, as British consumer prices rose at the fastest annual pace in nearly 30 years in January. The US future indexes, Dow and Nasdaq futures are trading marginally lower at this time at 5 pm IST.
Conclusion
Indian stock markets closed marginally lower after a volatile trading session on Wednesday. The domestic markets are currently dancing as per global tunes and it will continue for some time until we get some clarity on US interest rate hikes and Ukraine issues get resolved.
Going ahead, the FOMC minutes will be released tonight, tomorrow Asian markets will first react to the Fed’s minutes. Traders should remain cautious tomorrow as some volatility in the markets is expected.
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