Nifty and Bank Nifty Prediction for Tomorrow 19 Oct 2022
Nifty and Bank Nifty Prediction for Tomorrow 19 Oct 2022: Indian stock markets made strong gains on Tuesday amid positive global cues. The domestic markets gained for the third consecutive session due to strong quarterly results and positive sentiments from global markets. All sectoral indices were closed higher today, led by PSU Banking, Media, and Realty.
The market breadth was quite strong today. The broader markets also closed almost in line with their larger peer, as Nifty mid and smallcap indexes gained 1.10 percent and 0.76 percent respectively. At the close, the benchmark indices, Sensex and Nifty ended higher by 0.94 percent and 1.01 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for 18 Oct (Oct Expiry)
The Nifty futures price opened at 17443, making a positive opening of 142.7 points today. It has touched an intraday high of 17538.65 and a day’s low of 17432
The Nifty futures price has given a movement of 106.65 points today. In the end, it closed higher by 207.60 points or 1.20 percent and ended at 17507.90 levels.
The Bank Nifty futures opened at 40300 It made a positive opening of 324.18 points. The Bank Nifty futures has touched an intraday high at 40496.80 and a day’s low at 40213.95
During the day, the Bank Nifty futures has given a movement of 282.85 points. In the end, it closed higher by 379.95 points or 0.95 percent and closed at 40355.80 levels.
Nifty & Bank Nifty Prediction for Tomorrow 19 Oct 2022 (Oct Expiry)
Nifty Futures Prediction for Tomorrow 19 Oct 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17650 whereas All Down Moves Initiates Short Covering (Buy) @ 17400
If the Nifty futures share price Moves Above 17552 and sustain. Then you should Buy with 1st Target of 17580 during the day with a Stop Loss of 17525 FOR the Target of 17580- 17615- 17660- 17705
If the Nifty futures share price Moves Below 17450 and is sustained. Then you should Sell with the 1st Target of 17405 for the day with a Stop Loss of 17490. For the Target of 17405- 17370- 17345- 17300
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Bank Nifty Futures Prediction for Tomorrow 18 Oct 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41200 whereas All Down Moves Initiates Short Covering (Buy) @ 40250
Suppose the Bank Nifty futures Moves Above 40620 and sustain, then you should Buy with the 1st Target of 40705 during the day with a Stop Loss of 40500 and the Target of 40705- 40870- 41030 – 41225
If the Bank Nifty futures Moves Below 40215 and sustain, then you should Sell with the 1st Target of 40100 the day with a Stop Loss of 40400. For the Target of 40100- 39955 -39815- 39690
Global Stock Markets Today
On the global front, the other Asian stock market indexes ended mostly in the green on Tuesday on the back of upbeat quarterly earnings reports from the US and a dramatic U-turn from Britain on its controversial tax-cutting plan. China’s Shanghai Composite ended in the red today due to the confusion created over the delayed release of key economic data. Nikkei and Hang Seng closed higher today.
European stock markets made a positive start on Tuesday after the UK’s controversial tax-cutting plan was reversed by the new Finance Minister. Markets hold gains, as sentiments were boosted due to strong US session overnight with Bank of America’s quarterly results beating estimates. The US future indexes, Dow and Nasdaq futures are trading positive indicating a strong opening for the US markets today.
Conclusion
Indian benchmark indices ended higher for the third consecutive session with the support of favorable domestic and global cues. The stability in the Indian rupee movements and crude oil prices also helped to boost the market mood. Going ahead, Indian markets are looking positive for tomorrow
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