Nifty and Bank Nifty Prediction for Tomorrow, 20 Jan 2022
Nifty and Bank Nifty Prediction for Tomorrow, 20 Jan 2022: Indian stock markets indexes opened flat to a positive note on Wednesday amid negative cues from the global markets. The key benchmark indices Sensex and Nifty traded below their neutral lines throughout the day on the back of selling in the IT, Realty, and Financial sectors. The broader markets also closed in the red today. In the end, Indian markets extended yesterday’s losses and closed in the red today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 19 Jan (Jan Expiry)
The Nifty futures price opened in 18094, making a negative opening of 30.35 points. It has touched an intraday high at 18110 and a day’s low at 17906.55
The Nifty futures price has given a movement of 203.45 points today. In the end, it declined 148.85 points or 0.82 percent and ended at 17975.50 levels.
The Bank Nifty futures opened at 38178.45, It made a negative opening of 111.15 points today. It has touched an intraday high at 38408.55 and a day’s low at 37850
During the day, the Bank Nifty futures has given a movement of 558.55 points. In the end, it closed lower by 113.25 points or 0.30 percent and closed at 38176.35 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 20 Jan 2022 (Jan Expiry)
Nifty Futures prediction for Tomorrow, 20 Jan 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18020 whereas All Down Moves Initiates Short Covering (Buy) @ 17885
If the Nifty futures share price Moves Above 17998 and sustain. Then you should Buy with 1st Target of 18026 during the day with a Stop Loss of 17970 FOR the Target of 18026- 18052- 18076
If the Nifty futures share price Moves Below 17905 and is sustained. Then you should Sell with the 1st Target of 17885 the day with a Stop Loss of 17927. FOR the Target of 17885- 17840- 17807
Bank Nifty Futures prediction for Tomorrow, 20 Jan 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38350 whereas All Down Moves Initiates Short Covering (Buy) @ 37900
Suppose the Bank Nifty futures Moves Above 38285 and sustain, then you should Buy with the 1st Target of 38350 during the day with a Stop Loss of 38225 the Target of 38350 – 38430 – 38520
If the Bank Nifty futures Moves Below 38115 and sustain, then you should Sell with the 1st Target of 38045 during the day with a Stop Loss of 38195. FOR the Target of 38045 – 37970 – 37875
Global markets today
On the global front, Asian markets mostly closed in the red today, after a broad-based sell-off witnessed on Wall Street on Tuesday as bond yields surged amid renewed fears that the U.S Federal Reserve will hike the interest rates aggressively and sooner than expected.
European markets are trading flat on Wednesday after a sharp sell-off in the previous session. The selling pressure in the US technology stocks also hit the market sentiments today. UK’s FTSE opened lower and is now trading flat, on rate hike fears after the office for National Statistics showed that the consumer price inflation rose to 5.4% in the month of December as compared to 5.1% in November. The US future Indexes, Dow, and Nasdaq futures are trading almost flat after yesterday’s fall.
Conclusion
Indian equity markets extended their previous session losses amid weak global cues. In the absence of any major domestic events, Indian markets are trading as per global markets. The key factors like high bond yields, rising crude price, and spike in covid cases subdued the market sentiments at present. Technically, markets are looking bearish for the short term, and Nifty may take support near 17800-17600 levels.
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