Nifty and Bank Nifty Prediction for Tomorrow 24 May 2022
Nifty and Bank Nifty Prediction for Tomorrow 24 May 2022: Indian equity markets opened higher on Monday amid positive cues from the Asian markets. Indian markets were trading firm in the morning deals but profit booking was witnessed in the second half at the higher levels.
The benchmark indices erased all intraday gains on the back of selling in the Metals, Energy, and Pharma stocks. The broader markets also closed lower. In the end, the benchmark indices ended marginally lower today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 23 May (May Expiry)
The Nifty futures price opened at 16270, making a positive opening of 16.75 points. It has touched an intraday high of 16398 and a day’s low of 16152
The Nifty futures price has given a movement of 246 points today. In the end, it closed lower by 88.40 points or 0.54 percent and ended at 16164.85 levels.
The Bank Nifty futures opened at 34305 It made a positive opening of 62.3 points. The Bank Nifty futures has touched an intraday high at 34815.45 and a day’s low at 34071.90
During the day, the Bank Nifty futures has given a movement of 743.55 points. In the end, it closed lower by 142.70 points or 0.42 percent and closed at 34100 levels.
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Nifty & Bank Nifty Prediction for Tomorrow 24 May 2022 (May Expiry)
Nifty Futures Prediction for Tomorrow 24 May 2022
Primary Nifty Trend in futures: Positive with Cautious Bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16350 whereas All Down Moves Initiates Short Covering (Buy) @ 16050
If the Nifty futures share price Moves Above 16235 and sustain. Then you should Buy with 1st Target of 16295 during the day with a Stop Loss of 16205 FOR the Target of 16295- 16325 – 16365- 16418
If the Nifty futures share price Moves Below 16092 and is sustained. Then you should Sell with the 1st Target of 16070 for the day with a Stop Loss of 16140. FOR the Target of 16070- 16010- 15970- 15940
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Bank Nifty Futures Prediction for Tomorrow 24 May 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34600 whereas All Down Moves Initiates Short Covering (Buy) @ 33850
Suppose the Bank Nifty futures Moves Above 34415 and sustain, then you should Buy with the 1st Target of 34540 during the day with a Stop Loss of 34320 the Target of 34540- 34610- 34730- 34805
If the Bank Nifty futures Moves Below 33950 and sustain, then you should Sell with the 1st Target of 33865 the day with a Stop Loss of 34125. FOR the Target of 33865 – 33710 – 33525 – 33445
Global Stock Markets today
On the global front, the other Asian markets mostly closed in the green today. The investors were optimistic after the news that US President Joe Biden was looking at lifting some of the tariffs imposed on Chinese goods by former President Donald Trump. The Hang Seng index slipped, dragged down by the tech giants like Alibaba and Meituan.
European markets are trading higher following the positive cues from the Asian markets while Siemens deals in German boosted the market sentiments today. The US futures, Dow Jones, and Nasdaq futures are trading higher today at 5 pm IST.
Conclusion
Indian markets gave up all intraday gains in the second half and closed marginally lower. The key indexes drag as the Metal index fell more than 8 percent intraday after the export tax imposed on steel products by the government. Indian markets will remain volatile in the current week due to the scheduled monthly F&O expiry. Traders should remain cautious and trade with strict stop loss.
Also read: Stock Market Prediction Next Week ( 23 to 27 May 2022)
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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