Nifty and Bank Nifty Prediction for tomorrow 20 Dec 2022
Nifty and Bank Nifty Prediction for tomorrow 20 Dec 2022: Indian equity benchmarks ended with strong gains and snapped two days of losing steak. The domestic indices extended their early gains as the session progressed. Barring IT and PSU Banks all other sectors closed in the green today, gains were led by Auto, FMCG, Metals, and Financial Services.
The market breadth was positive today. The broader markets also closed higher almost in line with their larger peers. At the close, Sensex and Nifty gained 0.76 percent and 0.83 percent respectively on Monday. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 19 Dec (Dec Expiry)
The Nifty futures price opened at 18340 making a positive opening of 11.35 points today. It has touched an intraday high of 18519 and a day’s low of 18308.60
The Nifty futures price has given a movement of 210.4 points today. In the end, it closed higher by 170.35 points or 0.93 percent and ended at 18499 levels.
The Bank Nifty futures opened at 43375.25 It made a positive opening of 88.45 points. The Bank Nifty futures touched an intraday high at 43567.25 and a day’s low at 43235.60
During the day, the Bank Nifty futures have given a movement of 331.65 points. In the end, it closed higher by 274.30 points or 0.63 percent and closed at 43561.10 levels.
Nifty & Bank Nifty Prediction for Tomorrow 20 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Tomorrow 20 Dec 2022
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18600 whereas All Down Moves Initiates Short Covering (Buy) @ 18400
If the Nifty futures (Dec Series) share price Moves Above 18538 and sustains. Then you should Buy with the 1st Target of 18576 during the day with a Stop Loss of 18490 FOR the Target of 18576- 18615- 18640
If the Nifty futures (Dec Series) share price Moves Below 18458 and is sustained. Then you should Sell with the 1st Target of 18418 for the day with a Stop Loss of 18475. For the Target of 18418- 18386-18360
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 20 Dec 2022
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43700 whereas All Down Moves Initiates Short Covering (Buy) @ 43300
Suppose the Bank Nifty futures (Dec Series) Moves Above 43610 and sustain, then you should Buy with the 1st Target of 43715 during the day with a Stop Loss of 43480 and the Target of 43715- 43810 – 43970
If the Bank Nifty futures (Dec Series) Moves Below 43385 and sustain, then you should Sell with the 1st Target of 43315 the day with a Stop Loss of 43460. For the Target of 43315- 43240- 43170
Global Stock Market Updates
Asian stock markets mostly closed in the red on Monday following negative cues from Wall Street on Friday. The sentiments were downbeat due to ongoing concerns about rising interest rates and fears of a global economic recession. The dramatic spread of covid cases in China also hit the market sentiments in the region. All three major indices Shanghai, Hang Seng, and Nikkei closed lower on Monday, Shanghai fell the most.
European markets are trading higher despite the weakness in Asian markets as energy shares rallied. The upside of the markets is limited due to concerns about interest rate hikes and recession worries. The US future indexes, Dow and Nasdaq futures are trading higher at 5 pm IST, indicating a positive opening for the US markets.
Conclusion
Indian equity markets started the week on a strong note. The Indian markets rallied today, as investors bet on the recent beaten-down stocks despite negative cues from other Asian market peers. The domestic markets got support from European markets and close near the day high. You can also follow our Daily Morning Report at 7.30 am for the market direction.
Also, read Algo Trading Definition: Pros and Cons of Algorithmic trading
Tradingview India Review 2022- You Must Read
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 20 Dec 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.
