Nifty and Bank Nifty Prediction for Tomorrow 22 Dec 2022
Nifty and Bank Nifty Prediction for Tomorrow 22 Dec 202: India’s equity benchmarks ended with a deep cut on Wednesday. Soon after opening higher, markets turned negative and extended losses as the session progressed. Barring pharma and IT stocks, all other sectoral indices closed in the red. The sectors that dragged down the markets were media, PSU Bank, and metals.
The market breadth was negative today. The broader markets underperformed the benchmarks, as Nifty mid and smallcap indexes were down by 1.58 percent and 2.24 percent respectively. At the close, the Sensex and Nifty closed lower by 1.03 percent and 1.01 percent respectively. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 21 Dec (Dec Expiry)
The Nifty futures price opened at 18470.10 making a positive opening of 46.15 points today. It has touched an intraday high of 18514.90 and a day’s low of 18223
The Nifty futures price has given a movement of 291.9 points today. In the end, it closed lower by 146.05 points or 0.79 percent and ended at 18277.90 levels.
The Bank Nifty futures opened at 43529.95 It made a positive opening of 90.45 points. The Bank Nifty futures touched an intraday high at 43687.95 and a day’s low at 42445.95
During the day, the Bank Nifty futures have given a movement of 1242 points. In the end, it closed lower by 654.45 points or 1.51 percent and closed at 42785.05 levels.
Nifty & Bank Nifty Prediction for Tomorrow 22 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Tomorrow 22 Dec 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18450 whereas All Down Moves Initiates Short Covering (Buy) @ 18200
If the Nifty futures (Dec Series) share price Moves Above 18365 and sustains. Then you should Buy with the 1st Target of 18415 during the day with a Stop Loss of 18320 FOR the Target of 18415- 18452- 18515
If the Nifty futures (Dec Series) share price Moves Below 18240 and is sustained. Then you should Sell with the 1st Target of 18185 for the day with a Stop Loss of 18275. For the Target of 18185- 18155-18104
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 22 Dec 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43100 whereas All Down Moves Initiates Short Covering (Buy) @ 42400
Suppose the Bank Nifty futures (Dec Series) Moves Above 42975 and sustain, then you should Buy with the 1st Target of 43045 during the day with a Stop Loss of 42860 and the Target of 43045- 43140 – 43209
If the Bank Nifty futures (Dec Series) Moves Below 42630 and sustain, then you should Sell with the 1st Target of 42500 the day with a Stop Loss of 42770. For the Target of 42500- 42385- 42260
Global Stock Market Updates
On the global front, the other Asian stock market indexes were closed mixed on Wednesday. The market sentiments were boosted by the Bank of Japan’s rate policy surprise and China’s Covid reopening despite the surges in Covid cases. Nikkei closed lower after a see-saw trade today, while Hang Seng ended slightly higher. China’s Shanghai also erased early gains and closed in the red.
European markets are trading higher on Wednesday despite muted sessions from the US overnight and mixed Asian markets. The market sentiments are upbeat, as the latest survey showed that German consumer sentiments are set to improve in January. Uniper shares jumped after the European Commission on Tuesday approved a €34.5bn German government plan to recapitalize the natural gas trader. The improved quarterly sales from US giant Nike also drove gains in other sports-related stocks.
The US future indexes, Dow Jones and Nasdaq futures are trading higher at 5.30 pm IST, indicating a positive opening for the US markets
Conclusion
Indian stock market indexes fell due to concern about the surge in covid cases in China and elsewhere such as the US, Japan, and South Korea. Investors were cautious and looking ahead to the RBI’s last meeting minutes expected later in the day, for more clarity on RBI’s thought process. Technically, though the market is looking negative, we can’t ignore a relief rally tomorrow. Tomorrow markets will open as per global cues, you can follow our Daily Morning Report at 7.30 am for 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 22 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.
