Nifty & Bank Nifty Prediction for Tomorrow 17 March 2022
Nifty & Bank Nifty Prediction for Tomorrow 17 March 2022: Indian equity markets made a gap-up opening on Wednesday tracking positive cues from the global markets. The market sentiments were upbeat as crude oil slipped below $100 per barrel in international markets. The benchmark indices, Sensex and Nifty traded in a narrow range most of the day. The broader markets also gained in line with their larger peers.
All sectoral indices participated in today’s market rally, led by Realty, Metals, and Auto. In the last hour, the market witnessed heavy buying and later closed near the day’s high. You can read detailed market updates here.
Nifty and Nifty Bank futures price movement for 16 March (March Expiry)
The Nifty futures price opened at 16870, making a positive opening of 201 points. It has touched an intraday high of 17028.70 and a day’s low of 16856
The Nifty futures price has given a movement of 172.7 points today. In the end, it closed higher by 337.50 points or 2.02 percent and ended at 17006.50 levels.
The Bank Nifty futures opened at 35532, It made a positive opening of 512.15 points. The Bank Nifty futures has touched an intraday high at 35861.05 and a day’s low at 35506
During the day, the Bank Nifty futures has given a movement of 355.05 points. In the end, it closed higher by 728.15 points or 2.08 percent and closed at 35748 levels.
Nifty & Bank Nifty Prediction for Tomorrow 17 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 17 March 2022
Primary Nifty Trend in futures: Positive with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17200 whereas All Down Moves Initiates Short Covering (Buy) @ 16900
If the Nifty futures share price Moves Above 17035 and sustain. Then you should Buy with 1st Target of 17086 during the day with a Stop Loss of 16995 FOR the Target of 17086- 17130 – 17151- 17200
If the Nifty futures share price Moves Below 16940 and is sustained. Then you should Sell with the 1st Target of 16902 for the day with a Stop Loss of 16975. FOR the Target of 16902-16865- 16815- 16760
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Bank Nifty Futures Prediction for Tomorrow 17 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 35900 and sustain, then you should Buy with the 1st Target of 36025 during the day with a Stop Loss of 35780 the Target of 36025- 36120- 36218- 36430
If the Bank Nifty futures Moves Below 35640 and sustain, then you should Sell with the 1st Target of 35515 the day with a Stop Loss of 35735. FOR the Target of 35515 – 35406 – 35295- 35150
Global Stock Markets today
On the global front, Asain markets were closed in the green on Wednesday. Hang Seng and Shanghai rebounded as heavy buying was witnessed in beaten-down technology shares. China is experiencing its biggest spike in fresh Covid-19 cases after its initial outbreak in 2020. The market sentiments improved after China’s Vice Premier Liu He said Beijing will roll out more measures to boost the Chinese economy as well as favorable policy steps for capital markets.
European markets are trading higher on Wednesday as investors are in hopes that the peace talks will end the Ukraine war. Investors are also eyeing a meeting of the US Federal Reserve for interest rate hikes, the outcome of the meeting is expected later today. The US future indexes, Dow and Nasdaq futures are trading higher at this moment at 4.30 pm IST.
Conclusion
Indian markets closed higher after yesterday’s fall. The positive global cues and ease of crude prices helped the markets to trade higher. However, the upside of the markets was capped as traders were cautious ahead of the US Fed meeting outcome and its commentary about the future hikes later today. Going ahead, tomorrow markets will first react to the Fed’s policy outcome. Traders should remain cautious as weekly expiry can create some volatility in the second half.
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