Nifty and Bank Nifty Prediction for Tomorrow, 21 Oct 2021
Nifty and Bank Nifty Prediction for Tomorrow, 21 Oct 2021: Indian stock market indices opened in the green tracking positive cues from the global markets. The equity benchmarks erased their early gains immediately after opening and traded volatile throughout the day. Today the profit booking is witnessed mainly in Metals, Energy, and Realty stocks. In the end, the benchmark indices closed in the red zone while midcap and smallcap indexes closed lower for more than 2 percent today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 20 October (Oct Expiry)
The Nifty futures price opened at 18430.10, making a flat opening of just 2.35 points down. It has touched an intraday high at 18466.80 and a day’s low at 18251.15
The Nifty futures price has given a movement of 215.65 points today. In the end, it fell 112.45 points or 0.61 percent and ended at 18320 levels.
The Bank Nifty futures opened at 39512.50. It made a negative opening of 120.85 points today. It has touched an intraday high at 39850 and a day’s low at 39394.85
During the day, the Bank Nifty in futures has given a movement of 455.15 points. In the end, it closed higher by 44.55 points or 0.11 percent and closed at 39677.90 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 21 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 21 Oct 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18350 whereas All Down Moves Initiates Short Covering (Buy) @ 18200
If the Nifty futures share price Moves Above 18362 and sustain. Then you should Buy with 1st Target of 18409 during the day with a Stop Loss of 18318 FOR the Target of 18409-18445- 18484
If the Nifty futures share price Moves Below 18250 and is sustained. Then you should Sell with the 1st Target of 18208 during the day with a Stop Loss of 18284. FOR the Target of 18208- 18162- 18112
Bank Nifty Futures Predictions for Tomorrow, 21 Oct 2021
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39900, whereas All Down Moves Initiates Short Covering (Buy) @ 39400
Suppose the Bank Nifty futures Moves Above 39770 and sustain, then you should Buy with the 1st Target of 39878 during the day with a Stop Loss of 39640. FOR the Target of 39878 – 39965 – 40040
If the Bank Nifty futures Moves Below 39515 and sustain, then you should Sell with the 1st Target of 39390 during the day with a Stop Loss of 39625. FOR the Target of 39390 – 39218 – 39074
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Global markets today
On the global front, the other Asian markets mostly closed mixed on Wednesday. China’s Shanghai closed lower as property share extending falls and coal stocks tumbling, investors are worried about uncertainty around monetary policies. Hang Seng gained more than a percent today due to buying seen in technology shares.
European market indexes are hovering near their yesterday’s close as investors digested a mixed bag of corporate earnings news. The US futures, Dow, and Nasdaq futures are trading almost flat.
Conclusions
Profit booking drags down the Indian stock market indexes for the second consecutive day today. Indian markets fell on the back of selling in metals, realty, and energy sectors. The long and medium-term views are still positive, we may see some volatility in the short term only. Corrections are healthy, investors should take the opportunity to buy quality stocks only on dips.
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