Nifty and Bank Nifty Prediction for Tomorrow 26 May 2023
Nifty and Bank Nifty Prediction for Tomorrow 26 May 2023: Indian equity market indexes ended the volatile session with minor gains on Thursday. The markets traded below their neutral line in most parts of the session, in the last hour indices pared intraday losses and closed in the green. Trading was volatile due to the monthly F&O expiry. Among the sectors, Realty, FMCG, and Metals were advanced while selling pressure was witnessed in PSU Bank, Energy, and Media sectors.
The market breadth was slightly on the positive side. The broader markets closed in the green. The Nifty midcap outperformed the frontline index while smallcap index ended flat to positive. At the close, Sensex and Nifty advanced 0.16 percent and 0.20 percent respectively on Thursday. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 25 May
The Nifty futures price opened at 18270, making a negative opening of 25.9 points. It has touched an intraday high of 18333.05 and a day’s low of 18202.75
The Nifty futures price has given a movement of 130.3 points. In the end, it closed higher by 29 points or 0.16 percent and ended at 18324.90 levels.
The Bank Nifty futures opened at 43650 It opened negative by 69.2 points. The Bank Nifty futures touched an intraday high at 43750 and a day’s low at 43385.55
During the day, the Bank Nifty futures have given a movement of 364.45 points. In the end, it closed lower by 39.20 points or 0.09 percent and closed at 43680 levels.
Nifty & Bank Nifty Prediction for Tomorrow 26 May 2023
Nifty Futures Prediction for Tomorrow 26 May 2023
Primary Trend in Nifty Futures: Positive and volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18500 whereas All Down Moves Initiates Short Covering (Buy) @ 18350
The Nifty futures (June Series) closed at 18428 levels.
If the Nifty futures (June Series) Moves Above 18458 and sustain. Then you should Buy with the 1st Target of 18480 during the day with a Stop Loss of 18433 FOR the Target of 18480- 18512- 18536- 18562
If the Nifty futures (June Series) share price Moves Below 18400 and is sustained. Then you should Sell with the 1st Target of 18365 for the day with a Stop Loss of 18422 For the Target of 18365- 18332- 18294- 18258
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Bank Nifty Futures Prediction for Tomorrow 26 May 2023
Primary Trend in Bank Nifty Futures: Mild Negative and volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43950 whereas All Down Moves Initiates Short Covering (Buy) @ 43550
Bank Nifty futures (June Series) closed at 43753.
Suppose the Bank Nifty futures ( June Series) Moves Above 43885 and sustain, then you should Buy with the 1st Target of 43945 during the day with a Stop Loss of 43780 and the Target of 43945- 44040- 44120- 44210
If the Bank Nifty futures (June Series) Moves Below 43625 and sustain, then you should Sell with the 1st Target of 43530 the day with a Stop Loss of 43720. For the Target of 43530- 43450- 43385- 43320
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Global Stock Market Updates
On the global front, Asian markets were closed mostly in the red, indexes closed almost at a two-month low on Thursday amid fear to resolve the U.S. debt ceiling crisis. The delay and uncertainty over the resolution of the US debt ceiling issue weighed on investor sentiment.
On Wednesday, the credit rating agency Fitch put the US debt rating on watch, for a possible downgrade due to concerns about the US debt ceiling, which also hit market sentiments in the region.
South Korea’s Kospi fell half a percent despite the Bank of Korea holding its benchmark interest rate steady for the third consecutive time. Hang Seng closed around 2% on Thursday, the lowest level this year. Japan’s Nikkei ended higher while the Shanghai index closed marginally lower on Thursday.
European stock market indexes are trading lower on Thursday due to the concern about lingering US debt ceiling talks and the news that Germany entered a technical recession during the first quarter also hit the market sentiment.
In the US future indexes, Dow Future is trading marginally lower while Nasdaq Future is trading higher at 5.30 pm IST, indicating a mixed opening for the US markets today.
Conclusion
Indian stock markets pared intraday losses in the last hour and closed near the day high. The weak global cues have influenced the domestic market sentiments. Indian markets will remain volatile due to the fear of the US debt ceiling crisis. You can follow our Daily Morning Report at 7.30 am for market direction.
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