Nifty and Bank Nifty Prediction for Tomorrow 26 April 2022
Nifty and Bank Nifty Prediction for Tomorrow 26 April 2022: Indian equity market indexes opened a gap down on Monday as indicated by the other Asian market peers. Soon after opening in the red, the benchmark indices extended their losses on the back of selling heavyweights like RIL, Tata Steel, and HCL Tech. Except for banking, all other sectoral indices closed in the red today, led by Realty, Metal, and Energy.
The broader markets have underperformed as Nifty midcap and smallcap indexes fell around 2 percent today. At the close, the benchmark indices ended below their psychological levels today. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 25 April (April Expiry)
The Nifty futures price opened at 17005, making a negative opening of 172.75 points. It has touched an intraday high of 17050.15 and a day’s low of 16875
The Nifty futures price has given a movement of 175.15 points today. In the end, it closed lower by 195.85 points or 1.14 percent and ended at 16981.90 levels.
The Bank Nifty futures opened at 35750, It made a negative opening of 343.85 points. The Bank Nifty futures has touched an intraday high at 36295.50 and a day’s low at 35501.05
During the day, the Bank Nifty futures has given a movement of 794.45 points. In the end, it closed higher by 141.15 points or 0.39 percent and closed at 36235 levels.
Nifty & Bank Nifty Prediction for Tomorrow 26 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 26 April 2022
Primary Nifty Trend in futures: Volatile with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17050 whereas All Down Moves Initiates Short Covering (Buy) @ 16800
If the Nifty futures share price Moves Above 17055 and sustain. Then you should Buy with 1st Target of 17095 during the day with a Stop Loss of 17018 FOR the Target of 17095- 17148 – 17213- 17252
If the Nifty futures share price Moves Below 16925 and is sustained. Then you should Sell with the 1st Target of 16885 for the day with a Stop Loss of 16960. FOR the Target of 16885-16848- 16803- 16772
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Bank Nifty Futures Prediction for Tomorrow 26 April 2022
Primary Trend of Bank Nifty Futures: Volatile with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36700 whereas All Down Moves Initiates Short Covering (Buy) @ 35900
Suppose the Bank Nifty futures Moves Above 36572 and sustain, then you should Buy with the 1st Target of 36690 during the day with a Stop Loss of 36400 the Target of 36690- 36825- 36950- 37060
If the Bank Nifty futures Moves Below 35980 and sustain, then you should Sell with the 1st Target of 35900 the day with a Stop Loss of 36160. FOR the Target of 35900 – 35770 – 35685 – 35540
Global Stock Markets today
On the global front, the other Asian market indexes were closed in the deep red led by Shanghai and Hang Seng due to the covid-19 outbreak spreading in and around Shanghai and fear of lockdown in Beijing after mass Covid-19 testing was done. The sentiments were also hit as investors feared that the US Fed could aggressively hike rates even more than 50 bps in the next month’s policy meeting.
European markets are also trading in the deep red as investors fretted about the slowdown in China due to the fresh covid-19 outbreak and faster US interest rate hikes in the coming month. The US future indexes, Dow Jones and Nasdaq futures are trading lower at this moment at 5 pm IST
Conclusion
Indian equity markets started the week on a negative note. The weak global cues due to rising covid cases in china, economic slowdown, and the US interest rate hikes and other global uncertainties fears the investors. Going ahead, the domestic markets will trade as per the global cues in the coming days and would remain volatile due to the monthly F&O expiry.
Also read: Stock Market Prediction Next Week (25- 29 April 2022)
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