Nifty | Bank Nifty Prediction for Tomorrow 22 March 2022
Nifty & Bank Nifty Prediction for Tomorrow 22 March 2022: Indian equity markets opened higher amid positive cues from the Asian markets in the morning. Markets immediately fell below their neutral lines on the back of selling in the FMCG and Financial stocks. The sentiments were negative due to inflation worries, as crude oil prices rebounded sharply and are trading above $110 per barrel.
The broader markets closed mixed, as Nifty midcap ended lower while smallcap indexes closed in the green. In the end, the benchmark indices extended their early losses and closed around 1 percent lower today. You can read detailed market updates here.
Nifty and Nifty Bank futures price movement for 21 March (March Expiry)
The Nifty futures price opened at 17332.20, making a positive opening of 10.15 points. It has touched an intraday high of 17392.10 and a day’s low of 17130.65
The Nifty futures price has given a movement of 261.45 points today. In the end, it closed lower by 154.20 points or 17167.85 percent and ended at 17167.85 levels.
The Bank Nifty futures opened at 36510, It made a positive opening of 89.95 points. The Bank Nifty futures has touched an intraday high at 36599.95 and a day’s low at 35941.55
During the day, the Bank Nifty futures has given a movement of 658.4 points. In the end, it closed lower by 312.35 points or 0.86 percent and closed at 36120.05 levels.
Nifty & Bank Nifty Prediction for Tomorrow 22 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 22 March 2022
Primary Nifty Trend in futures: Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17250 whereas All Down Moves Initiates Short Covering (Buy) @ 17000
If the Nifty futures share price Moves Above 17233 and sustain. Then you should Buy with 1st Target of 17257 during the day with a Stop Loss of 16190 FOR the Target of 17257- 17280 – 17317- 17370
If the Nifty futures share price Moves Below 17138 and is sustained. Then you should Sell with the 1st Target of 17095 for the day with a Stop Loss of 17175. FOR the Target of 17095-17035- 17000- 16945
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Bank Nifty Futures Prediction for Tomorrow 22 March 2022
Primary Trend of Bank Nifty Futures: Negative with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36400 whereas All Down Moves Initiates Short Covering (Buy) @ 35700
Suppose the Bank Nifty futures Moves Above 36409 and sustain, then you should Buy with the 1st Target of 36640 during the day with a Stop Loss of 36255 the Target of 36640- 36745- 36980- 37040
If the Bank Nifty futures Moves Below 35865 and sustain, then you should Sell with the 1st Target of 35690 the day with a Stop Loss of 35970. FOR the Target of 35690 – 35555 – 35410- 35286
Global Stock Markets today
On the global front, Asain markets were closed mixed on Monday as investors’ confidence remain thin, unlike the previous week due to the crisis in Eastern Europe. Major stock markets around the world slipped due to intense fighting in Ukraine and no sign of a ceasefire even as diplomatic efforts continued. Further, traders are concerned about inflation, as Brent Crude oil prices climbed again above $110 per barrel.
European market indexes are trading mixed as investors continued to monitor the war in Ukraine with little corporate or economic news to drive sentiment. The market sentiments are subdued as oil prices rebounded and producer price inflation surges in Germany at a record high. The US future indexes, Dow and Nasdaq futures are trading almost flat at this moment at 5 pm IST.
Conclusion
Indian stock markets witnessed profit booking at higher levels as investors were less confident about the uncertainty of the Ukraine war. The slow progress of peace talks and rebound of crude oil prices hit the market sentiments today. Going ahead, markets will remain volatile, investors need to closely monitor the development of the Ukraine war.
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