Nifty and Bank Nifty Prediction for Tomorrow 18 Nov 2022
Nifty and Bank Nifty Prediction for Tomorrow 18 Nov 2022: Indian equity market indexes closed lower after a volatile trading session on Thursday amid weak global cues. The market sentiments were downbeat as investors tried to access the outlook for the Fed interest rate policy, after better-than-expected US retail sales data in October. Trading was volatile due to the expiry of the weekly index options on the NSE.
Among the sectors, barring PSU Bank, all other sectoral indices closed in the red, auto, consumer durables, and IT fell the most. The market breadth was negative today, the broader markets declined in line with their larger peers. At the close, Sensex and Nifty slipped 0.37 percent and 0.36 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for Nov 17 (Nov Expiry)
The Nifty futures price opened at 18400 making a negative opening of 51.85 points today. It has touched an intraday high of 18473.60 and a day’s low of 18346.10
The Nifty futures price has given a movement of 127.5 points today. In the end, it closed lower by 94.75 points or 0.51 percent and ended at 18357.10 levels.
The Bank Nifty futures opened at 42472.25 It made a negative opening of 107.65 points. The Bank Nifty futures touched an intraday high at 42660 and a day’s low at 42410.20
During the day, the Bank Nifty futures have given a movement of 249.8 points. In the end, it closed lower by 79.90 points or 0.19 percent and closed at 42500 levels.
Nifty & Bank Nifty Prediction for Tomorrow 18 Nov 2022 (Nov Expiry)
Nifty Futures Prediction for Tomorrow 18 Nov 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18450 whereas All Down Moves Initiates Short Covering (Buy) @ 18250
If the Nifty futures (Nov Series) share price Moves Above 18385 and sustains. Then you should Buy with 1st Target of 18416 during the day with a Stop Loss of 18340 FOR the Target of 18416- 18448- 18475- 18521
If the Nifty futures (Nov Series) share price Moves Below 18290 and is sustained. Then you should Sell with the 1st Target of 18258 for the day with a Stop Loss of 18327. For the Target of 18258- 18230- 18195- 17170
If you want Live Trading calls for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 18 Nov 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 42750 whereas All Down Moves Initiates Short Covering (Buy) @ 42400
Suppose the Bank Nifty futures (Nov Series) Moves Above 42675 and sustain, then you should Buy with the 1st Target of 42760 during the day with a Stop Loss of 42530 and the Target of 42760- 42880- 42970 – 43050
If the Bank Nifty futures (Nov Series) Moves Below 42385 and sustain, then you should Sell with the 1st Target of 42280 the day with a Stop Loss of 42480. For the Target of 42280- 42150- 42050- 41970
Global Stock Market Updates
Asian stock markets mostly closed lower on Thursday due to fear of Chip shortage, ongoing recession fears, and worries about the pace of interest rate hike by the Fed in the Dec meeting, after stronger-than-expected US retail sales data.
The chip stocks dragged down most of the indexes across the region, after grim signals from Macron Technology overnight regarding cuts in supply due to sluggish demand and lower down its capital spending. Nikkie closed lower today dragged down by the chip-related stocks while travel shares jumped due to an increase in foreign tourists. Hang Seng and Shanghai both closed lower today.
European stock markets are trading in the red following the negative cues from Asian peers and US markets overnight. Earlier, the sentiments were positive due to strong earnings posted by Germany’s Siemens. The US future indexes, Dow and Nasdaq futures are trading in the red at this moment at 5.30 pm IST, indicating a lower opening for the US markets today.
Conclusion
Indian markets closed lower due to weakness in the global markets. In absence of any domestic trigger, markets will follow the global cues tomorrow. You can read our Daily Morning Report at 7.30 am IST for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Tradingview India Review 2022- You Must Read
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 18 Nov 2022” please share it with 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.
