Nifty & Bank Nifty Prediction for Tomorrow, 23 Nov 2021
Nifty & Bank Nifty Prediction for Tomorrow, 23 Nov 2021: Indian equity market indexes opened marginally higher after a long weekend on Monday as indicated by the SGX Nifty in the morning. Markets immediately turned negative and fell sharply on the back of selling in Realty, PSU Banking, Financials, and Oil & Gas sectors. All sectors closed in the red today. The broader markets also underperformed today as compared to the benchmark indices. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 22 November (Nov Expiry)
The Nifty futures price opened at 17797.75, making a flat to the positive opening of 4.85 points. It has touched an intraday high at 17805 and a day’s low at 17301.55
The Nifty futures price has given a movement of 503.45 points today. In the end, it fell 343 points or 1.93 percent and ended at 17449.90 levels.
The Bank Nifty futures opened at 38199.90. It made a positive opening of 94.2 points today. It has touched an intraday high at 38214.10 and a day’s low at 36680.05
During the day, the Bank Nifty in futures has given a movement of 1534.05 points. In the end, it closed lower by 835.70 points or 2.19 percent and closed at 37270 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 23 Nov 2021 (Nov Expiry)
Nifty Futures prediction for Tomorrow, 23 Nov 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17480 whereas All Down Moves Initiates Short Covering (Buy) @ 17280
If the Nifty futures share price Moves Above 17521 and sustain. Then you should Buy with 1st Target of 17548 during the day with a Stop Loss of 17475 FOR the Target of 17548- 17594- 17618
If the Nifty futures share price Moves Below 17412 and is sustained. Then you should Sell with the 1st Target of 17368 during the day with a Stop Loss of 17895. FOR the Target of 17368- 17334- 17280
Bank Nifty Futures prediction for Tomorrow, 23 Nov 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37400, whereas All Down Moves Initiates Short Covering (Buy) @ 36700
Suppose the Bank Nifty futures Moves Above 37285 and sustain, then you should Buy with the 1st Target of 37415 during the day with a Stop Loss of 38195. FOR the Target of 37415 – 37556 – 37685
If the Bank Nifty futures Moves Below 37020 and sustain, then you should Sell with the 1st Target of 36902 during the day with a Stop Loss of 37125. FOR the Target of 36902 – 36715 – 36556
Global markets today
On the global front, Asian markets closed mostly in the green in the end. The Asian markets were trading mixed with fear about renewed containment measures to battle a surge in Europe Covid cases adding to growing speculation that central banks will have to tighten monetary policy quicker to tame spike in inflation.
European markets are trading in the green but after last week’s fall, but the upside remained capped due to the surge in Covid cases as investors are in fears of fresh lockdown and reimpose of restrictions. The US Future indices, Dow, and Nasdaq futures are trading higher at 5 pm IST.
Conclusions
Indian stock market fell sharply on the first day of the week. The market sentiments got hit due to the resurgence of Covid cases in Europe, Reliance-Armaco deal cancellation, FIIs selling pressure, and the weak cues from the global markets on Friday. Investors should take the opportunity to buy good stocks on dips.
Also read, Best stocks to buy in India for the short term in November 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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