Nifty | Bank Nifty Prediction for Tomorrow, 24 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 24 Dec 2021: It was a strong start for the Indian stock market today amid positive cues from the global markets. The benchmark indexes, Sensex and Nifty traded above their neutral lines on the back of buying in Realty, IT, FMCG, and PSU banking counters. The broader markets also performed in line with their larger peer. In the end, key benchmark indices extended their previous day’s gain and closed in the positive zone. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 23 Dec (Dec Expiry)
The Nifty futures price opened at 17075, making a positive opening of 101.65 points. It has touched an intraday high at 17150 and a day’s low at 17040.55
The Nifty futures price has given a movement of 109.45 points today. In the end, it gained 85.65 points or 0.50 percent and ended at 17059 levels.
The Bank Nifty futures opened at 35377. It made a positive opening of 285.9 points today. It has touched an intraday high at 35550 and a day’s low at 35090.10
During the day, the Bank Nifty futures has given a movement of 459.9 points. In the end, it closed higher by 38.35 points or 0.11 percent and closed at 35129.45 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 24 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 24 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17170 whereas All Down Moves Initiates Short Covering (Buy) @ 17040
If the Nifty futures share price Moves Above 17090 and sustain. Then you should Buy with 1st Target of 17115 during the day with a Stop Loss of 17074 FOR the Target of 17115- 17145- 17168
If the Nifty futures share price Moves Below 17045 and is sustained. Then you should Sell with the 1st Target of 17013 during the day with a Stop Loss of 17060. FOR the Target of 17013- 16970- 16945
Bank Nifty Futures prediction for Tomorrow, 24 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700 whereas All Down Moves Initiates Short Covering (Buy) @ 35150
Suppose the Bank Nifty futures Moves Above 35345 and sustain, then you should Buy with the 1st Target of 35470 during the day with a Stop Loss of 35280. FOR the Target of 35470 – 35605 – 35720
If the Bank Nifty futures Moves Below 35050 and sustain, then you should Sell with the 1st Target of 34975 during the day with a Stop Loss of 35150. FOR the Target of 34975 – 34870 – 34730
Global markets today
On the global front, Asian markets closed in the green on Thursday tracking the positive cues from the US markets overnight. The technology shares were in focus in Hong Kong. The investor’s mood was upbeat after Taiwan’s unemployment rate dropped in November.
European markets are trading marginally higher on Thursday as investors bet on hopes that the Omicron Covid variant would not overwhelm health systems and lead to further restrictions. Traders are optimistic, volumes are less ahead of Christmas Eve. The US markets are expected to open higher today.
Conclusions
Indian equity market indices closed higher for the third consecutive day in a row with the support of strong global cues. Investors have bought beaten-down stocks from the oil & gas, realty, and PSU banking sectors. The street will closely watch out for the development of the Omicron virus, rising inflation, and interest rate hikes in the coming few sessions and set the direction accordingly.
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