Nifty and Bank Nifty Prediction for Tomorrow 26 July 2023: Indian stock markets ended a volatile session on a flat note on Tuesday. The domestic markets opened higher following positive cues from the Asian markets and then erased all early gains. The equity benchmarks later traded near their flat line throughout the session. The volatility index “India VIX” dropped over 12% to 10.24.
Among the sectors, Metal, Media, and Auto shares advanced while selling pressure was witnessed in PSU Bank, FMCG, and Realty sectors. The market breadth was almost flat with the advance decline indicating a neutral ratio at the close.
The broader markets closed mixed, the Nifty midcap index ended higher by 0.39 percent while smallcap index declined by 0.11 percent. At the close, Sensex was slightly down by 29.07 points at 66355.71 levels while Nifty gained 8.25 points and ended at 19680.60 level. You can read the detailed market updates here
Nifty and Bank Nifty futures price movement for (27 July expiry)
The Nifty futures price opened at 19744.10, making a positive opening of 51.4 points on Tuesday. It has touched an intraday high of 19744.10 and a day’s low of 19632
The Nifty futures price has given a movement of 112.10 points. In the end, it closed slightly higher by 2.30 points or 0.01 percent and ended at 19695 levels.
The Bank Nifty futures opened at 46110 It also made a positive opening of 129.95 points. The Bank Nifty futures touched an intraday high at 46119.50 and a day’s low at 45650
During the day, the Bank Nifty futures have given a movement of 469.5 points. In the end, it declined 50.30 points or 0.11 percent and closed at 45929.75 levels.
Nifty & Bank Nifty Prediction for Tomorrow 26 July 2023
Nifty Futures Prediction for Tomorrow 26 July 2023
Primary Trend in Nifty Futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves can Initiates Profit Booking @ 19750 whereas All Down Moves can Initiate Short Covering @ 19600
If Nifty futures for the July series Moves Above 19721 and sustains. Then Nifty futures can hit a 1st Target of 19748 during the day with a Stop Loss of 19692. In a day it could trade for the target of 19748- 19774- 19809 levels.
If the Nifty futures (July Series) share price Moves Below 19654 and is sustained. Then Nifty futures can see a 1st Target of 19630 levels for the day with a Stop Loss of 19676 In a day it could trade for the target of 19630- 19592 – 19565 level.
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Bank Nifty Futures Prediction for Tomorrow 26 July 2023
Primary Trend in Bank Nifty Futures- Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 46200 whereas All Down Moves can Initiate Short Covering @ 45750
Suppose the July series Bank Nifty futures Moves Above 46058 and sustain, then you could see a 1st Target of 46125 during the day with a Stop Loss of 45970. During the day Bank Nifty futures could trade for the target of 46125- 46205- 46310
If the Bank Nifty futures (July Series) Moves Below 45850 and sustain, then you could see a 1st Target of 45770 levels in a day with a Stop Loss of 45930. During the day Bank Nifty futures could trade for the target of 45770- 45700- 45625
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Global Stock Market Updates
Asian stock markets ended higher on Tuesday after China pledged to boost a series of policies for its struggling economy, including support for its ailing real estate sector. The Asian stocks jumped and a sharp rally was witnessed in Hong Kong’s beaten-down property sector.
The Hang Seng index rallied and closed over 4% after China’s support to the property sector, Hang Seng tech index gained around 6% today. Shanghai index gained over 2% as China vows support to property sectors. Kospi erased intraday losses and closed positive. Nikkei ended marginally lower as heavyweight tech stocks ended lower due to the cautiousness ahead of the Bank of Japan’s interest rate decision.
European stock markets erased intraday gains on Tuesday, as investors remain cautious ahead of the Central Banks decision this week and quarterly earnings from big corporates. The sentiments become slightly negative after the latest economic data showed German business sentiment deteriorated further in July.
The US future indexes, Dow and Nasdaq futures are trading slightly higher at 5 pm, indicating a positive opening for the US markets on Tuesday.
Conclusion
Indian stock market indexes were hovering near the flatline and ended with little change. The domestic markets were volatile today ahead of Fed’s interest rate decision, which is due on Wednesday. Traders should remain cautious as markets may remain highly volatile tomorrow ahead of the F&O expiry, Fed’s meeting outcome, and quarterly earnings. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Stock Market Prediction Next Week (24- 28 July 2023)
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