Nifty and Bank Nifty Prediction for Tomorrow 21 April 2022
Nifty and Bank Nifty Prediction for Tomorrow 21 April 2022: Indian equity market indices made a positive start on Wednesday after a sharp selloff in the previous session, tracking the positive global cues. The markets extended their early gains on the back of buying in Auto, IT, and Oil & Gas stocks.
Traders bet on the beaten-down stocks today, which corrected sharply in the recent fall. At the close, the benchmark indices, Sensex and Nifty ended a percent higher, whereas the broader markets closed mixed today. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 20 April (April Expiry)
The Nifty futures price opened at 17040, making a positive opening of 70.65 points. It has touched an intraday high of 17219.70 and a day’s low of 16996.85
The Nifty futures price has given a movement of 222.85 points today. In the end, it closed higher by 203.50 points or 1.20 percent and ended at 17172.85 levels.
The Bank Nifty futures opened at 36399.80, It made a slightly negative opening of 3.4 points. The Bank Nifty futures has touched an intraday high at 36619.10 and a day’s low at 36175.55
During the day, the Bank Nifty futures has given a movement of 443.55 points. In the end, it closed higher by 51.80 points or 0.14 percent and closed at 36455 levels.
Nifty & Bank Nifty Prediction for Tomorrow 21 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 21 April 2022
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17350 whereas All Down Moves Initiates Short Covering (Buy) @ 17100
If the Nifty futures share price Moves Above 17218 and sustain. Then you should Buy with 1st Target of 17252 during the day with a Stop Loss of 17190 FOR the Target of 17252- 17302 – 17335- 17382
If the Nifty futures share price Moves Below 17155 and is sustained. Then you should Sell with the 1st Target of 17126 for the day with a Stop Loss of 17175. FOR the Target of 17126-17090- 17050- 17000
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Bank Nifty Futures Prediction for Tomorrow 21 April 2022
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36650 whereas All Down Moves Initiates Short Covering (Buy) @ 36000
Suppose the Bank Nifty futures Moves Above 36550 and sustain, then you should Buy with the 1st Target of 36660 during the day with a Stop Loss of 36340 the Target of 36660- 36780- 36930- 37100
If the Bank Nifty futures Moves Below 36180 and sustain, then you should Sell with the 1st Target of 35965 the day with a Stop Loss of 36285. FOR the Target of 35965 – 35845 – 35760- 35585
Global Stock Markets today
On the global front, the other Asian markets were mostly closed in the green on Wednesday. Shanghai and Hang Seng fell after the central bank surprisingly kept its benchmark lending rates unchanged. Investors were on hope to get some support from the Central bank, as frequent pledges were made by the China government to support the slowing economy hit by the Covid-19
European markets are trading higher on Wednesday as investors shrugged off the gloomy IMF growth forecast and geopolitical crisis and shifted their focus to the quarterly corporate earnings. The US future indexes, Dow, and Nasdaq futures are trading mixed at 5 pm IST.
Conclusion
Indian markets bounced back today after yesterday’s last-hour selloff. The domestic markets got support from the global markets due to better corporate earnings. As there is no important domestic event lined up this week, Indian markets will trade as per global cues. Traders should keep tracking the global cues for the market direction.
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