Nifty & Bank Nifty Prediction for tomorrow, 18 Nov 2021
Nifty & Bank Nifty Prediction for tomorrow, 18 Nov 2021: The Indian equity markets opened lower amid weakness in the Asian markets. The markets recovered from the lower levels in the morning deals but could not sustain at higher levels due to selling pressure in the pharma, realty, and banking space. The market sentiments got hit as Fitch Rating kept India’s sovereign rating unchanged at ‘BBB-’ with a negative outlook. In the end, the market closed in the negative zone today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 17 November (Nov Expiry)
The Nifty futures price opened at 17934, making a negative opening of 70 points. It has touched an intraday high at 18028.80 and a day’s low at 17894.35
The Nifty futures price has given a movement of 134.45 points today. In the end, it fell 107 points or 0.59 percent and ended at 17897 levels.
The Bank Nifty futures opened at 38150. It made a negative opening of 254.15 points today. It has touched an intraday high at 38562.85 and a day’s low at 38055
During the day, the Bank Nifty in futures has given a movement of 507.85 points. In the end, it closed lower by 304.15 points or 0.79 percent and closed at 38100 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 18 Nov 2021 (Nov Expiry)
Nifty Futures prediction for Tomorrow, 18 Nov 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17950 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
If the Nifty futures share price Moves Above 17922 and sustain. Then you should Buy with 1st Target of 17942 during the day with a Stop Loss of 17904 FOR the Target of 17942- 17969- 17994
If the Nifty futures share price Moves Below 17868 and is sustained. Then you should Sell with the 1st Target of 17852 during the day with a Stop Loss of 17895. FOR the Target of 17852- 17807- 17774
Bank Nifty Futures predictions for Tomorrow, 18 Nov 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38200, whereas All Down Moves Initiates Short Covering (Buy) @ 37800
Suppose the Bank Nifty futures Moves Above 38202 and sustain, then you should Buy with the 1st Target of 38285 during the day with a Stop Loss of 38125. FOR the Target of 38285 – 38420 – 38535
If the Bank Nifty futures Moves Below 38020 and sustain, then you should Sell with the 1st Target of 37940 during the day with a Stop Loss of 38095. FOR the Target of 37940 – 37860 – 37765
Global markets today
On the global front, Asian markets closed mostly in the red today despite positive cues from the US market overnight. China’s Shangai closed higher as buying interest was seen in the new energy shares and non-ferrous metals. The tech giants dragged the Hang Seng index ahead of the third-quarter earnings reports.
European markets are trading mostly in the green near their record high as some positive earnings reports helped overshadow worries that soaring natural gas prices were feeding into inflationary pressures. The FTSE is trading lower as investors are concerned about the rise in the October inflation rate. The US future index, Dow, and Nasdaq futures are trading almost flat today at this time ( 4.30 pm IST)
Conclusions
Indian stock market closed in the red for the second consecutive day today. A profit book was seen at a higher level and the market is looking bearish for the short term. Investors need to remain cautious tomorrow due to the weekly expiry and ahead of the long weekend.
Also read, Best stocks to buy in India for the short term in November 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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