Nifty and Bank Nifty Prediction for Tomorrow 19 Aug 2022
Nifty and Bank Nifty Prediction for Tomorrow 19 Aug 2022: Indian equity markets opened lower on Thursday amid negative global cues. The markets were volatile due to the expiry of the weekly index options in NSE. Among the sectors, selling was witnessed in the IT, Auto, and Pharma sectors while Realty, Metals, and FMCG sectors closed higher.
In the last hour, the benchmark indices erased all intraday losses and closed marginally higher today. The broader markets also closed in the green in line with their larger peers. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 18 Aug (Aug Expiry)
The Nifty futures price opened at 17936.15, making a negative opening of 37.95 points today. It has touched an intraday high of 18004.70 and a day’s low of 17858.85
The Nifty futures price has given a movement of 145.85 points today. In the end, it closed higher by 26.85 points or 0.15 percent and ended at 18000.95 levels.
The Bank Nifty futures opened at 39399.80 It made a negative opening of 113.65 points. The Bank Nifty futures has touched an intraday high at 39783.95 and a day’s low at 39330.10
During the day, the Bank Nifty futures has given a movement of 453.85 points. In the end, it closed higher by 256.65 points or 0.65 percent and closed at 39770.10 levels.
Nifty & Bank Nifty Prediction for Tomorrow 19 Aug 2022 (Aug Expiry)
Nifty Futures Prediction for Tomorrow 19 Aug 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18120 whereas All Down Moves Initiates Short Covering (Buy) @ 17900
If the Nifty futures share price Moves Above 18028 and sustain. Then you should Buy with 1st Target of 18049 during the day with a Stop Loss of 17992 FOR the Target of 18049- 18074- 18120
If the Nifty futures share price Moves Below 17960 and is sustained. Then you should Sell with the 1st Target of 17928 for the day with a Stop Loss of 17980. For the Target of 17928- 17896- 17870
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Bank Nifty Futures Prediction for Tomorrow 19 Aug 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40200 whereas All Down Moves Initiates Short Covering (Buy) @ 39550
Suppose the Bank Nifty futures Moves Above 39940 and sustain, then you should Buy with the 1st Target of 40060 during the day with a Stop Loss of 39770 and the Target of 40060- 40185- 40325
If the Bank Nifty futures Moves Below 39500 and sustain, then you should Sell with the 1st Target of 39412 the day with a Stop Loss of 39650. For the Target of 39412 – 39300 – 39220
Global Stock Markets Today
On the global front, the other Asian market indexes mostly closed in the red on Thursday following weak cues from the US markets overnight. The Asian market sentiments were dampened, as the FOMC minutes released on Wednesday said that the US interest rate will stay higher for long till the inflation comes back to the 2% target. The Asian stock market key indexes, Nikkei, Hang Seng, and Shanghai all closed lower on Thursday.
European markets erased their early losses and are trading in the green after yesterday’s sharp sell-off. Turkey’s central bank has surprised the market with the 100 bps interest rate cut despite inflation being 80 percent. This is due to spur growth ahead of the general election next year. The US future indexes, Dow, and Nasdaq futures are trading marginally higher at 5.30 pm IST
Conclusion
Indian stock market indexes erased intraday losses and closed near the day high amid volatility. The markets opened lower and traded in the red zone in the first half, as US FOMC minutes were released last night dampened the global market sentiments. The comment from those minutes has become partially irrelevant after the latest US economic data was released. Indian markets are looking positive, tomorrow it will open as per global cues.
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