Nifty | Bank Nifty Prediction for Tomorrow, 21 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 21 Dec 2021: Indian stock market indexes opened gap-down on Monday amid negative cues from Asian market peers. Heavy selling pressure was witnessed across the board today. The panic button was pressed as investors were concerned about the rising Omicron cases globally including India. The continuous FIIs outflow also dented the market sentiments. In the end, the key equity benchmark indices extended their early losses and declined over 2 percent today. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 20 Dec (Dec Expiry)
The Nifty futures price opened at 16848.70, making a negative opening of 174.8 points. It has touched an intraday high at 16918 and a day’s low at 16431.30
The Nifty futures price has given a movement of 513.3 points today. In the end, it declined 395.15 points or 2.32 percent and ended at 16628.35 levels.
The Bank Nifty futures opened at 35300.05. It made a negative opening of 449 points today. It has touched an intraday high at 35350 and a day’s low at 34123.10
During the day, the Bank Nifty futures has given a movement of 1226.9 points. In the end, it closed lower by 34510 points or 3.47 percent and closed at 34510 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 21 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 21 Dec 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16750 whereas All Down Moves Initiates Short Covering (Buy) @ 16450
If the Nifty futures share price Moves Above 16695 and sustain. Then you should Buy with 1st Target of 16745 during the day with a Stop Loss of 16650 FOR the Target of 16745- 16790- 16830
If the Nifty futures share price Moves Below 16545 and is sustained. Then you should Sell with the 1st Target of 16505 during the day with a Stop Loss of 16580. FOR the Target of 16505- 16460- 16425
Bank Nifty Futures prediction for Tomorrow, 21 Dec 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37100 whereas All Down Moves Initiates Short Covering (Buy) @ 36350
Suppose the Bank Nifty futures Moves Above 34740 and sustain, then you should Buy with the 1st Target of 34900 during the day with a Stop Loss of 34620. FOR the Target of 34900 – 35040 – 35400
If the Bank Nifty futures Moves Below 34175 and sustain, then you should Sell with the 1st Target of 33930 during the day with a Stop Loss of 34320. FOR the Target of 33930 – 33665 – 33460
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Global markets today
On the global front, Asian markets closed in the red on Monday as China slashed its main lending rate for the first time in 20 months amid ongoing concerns of the growing spread of the Omicron variant worldwide. Investors were worried about the policymaker’s decision, as it indicates slowing economic growth in China.
European market indexes are trading in the red as investors fear the rapid spread of the Omicron variants globally. The US future indexes, Dow and Nasdaq futures are trading lower on the surge of the Omicron virus and its impact on the economic growth.
Conclusions
Indian stock market indexes closed in the deep red amid worries about the Omicron virus and its impact on the global economic recovery. The hawkish monetary policy from Federal Reserve and BOE already dented the market sentiments last week. Investors pressed the panic button as recent surges in new variants worldwide including India fear the lockdown and reimpose of covid related restrictions in various countries.
Technically Nifty has bounced back from 16400 levels. The Indian market may see a relief rally in a day or two but the overall sentiment is negative at this time. Traders should remain cautious and trade with strict stop loss.
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