Nifty and Bank Nifty Prediction for Tomorrow 27 April 2023
Nifty and Bank Nifty Prediction for Tomorrow 27 April 2023: Indian equity market indices ended with decent gains on Wednesday, rising for the fifth straight session. The domestic market gains due to healthy quarterly earnings, while the upside remains capped due to weak global cues. Among the sectors, Realty, FMCG, and Auto sectors were in demand while Metal and Energy stocks witnessed some selling pressure.
The market breadth was positive, on NSE, 1074 shares were in advance while 844 shares declined. The broader markets also closed higher today, as Nifty mid and smallcap indices gained 0.15 percent and 0.46 percent respectively. At the close, Sensex and Nifty advanced 0.28 percent and 0.25 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 26 April
The Nifty futures price on Monday opened at 17754.90, making a negative opening of 27.4 points today. It has touched an intraday high of 17830 and a day’s low of 17722
The Nifty futures price has given a movement of 108 points today. In the end, it closed higher by 41.20 points or 0.23 percent and ended at 17823.50 levels.
The Bank Nifty futures on Monday opened at 42595 It made a negative opening of 101.8 points today. The Bank Nifty futures touched an intraday high at 42858.25 and a day’s low at 42450
During the day, the Bank Nifty futures have given a movement of 408.25 points. In the end, it closed higher by 143.20 points or 0.34 percent and closed at 42840 levels.
Nifty & Bank Nifty Prediction for Tomorrow 27 April 2023
Nifty Futures Prediction for Tomorrow 27 April 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17930 whereas All Down Moves Initiates Short Covering (Buy) @ 17750
If the Nifty futures (April Series) share price Moves Above 17852 and sustains. Then you should Buy with the 1st Target of 17885 during the day with a Stop Loss of 17822 FOR the Target of 17885- 17907- 17935- 17966
If the Nifty futures (April Series) share price Moves Below 17780 and is sustained. Then you should Sell with the 1st Target of 17750 for the day with a Stop Loss of 17807. For the Target of 17750- 17715- 17665- 17635
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Bank Nifty Futures Prediction for Tomorrow 27 April 2023
Primary Trend in Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43200 whereas All Down Moves Initiates Short Covering (Buy) @ 42750
Suppose the Bank Nifty futures (April Series) Moves Above 42930 and sustain, then you should Buy with the 1st Target of 42985 during the day with a Stop Loss of 42815 and the Target of 42985- 43060- 43148- 43240
If the Bank Nifty futures (April Series) Moves Below 42720 and sustain, then you should Sell with the 1st Target of 42640 the day with a Stop Loss of 42785. For the Target of 42640- 42550- 42450- 42380
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Global Stock Market Updates
On the global front, Asian stock market indexes were closed mixed on Wednesday, as investors were worried about the health of global banking sectors as well as possible US recession. The tension in banking sectors renewed after US First Republic Bank tanked 49% on Tuesday, as its deposits dropped 40% in the first quarter of 2023. Investors are now looking for more corporate results and economic data from the US.
Hang Seng index closed higher due to a rally in tech shares after Microsoft and Alphabet posted strong quarterly results on Tuesday. Japan’s Nikkei declined following the negative cues from Wall Street and some cautiousness ahead of the BoJ’s policy meeting on Friday.
China’s Shanghai index edged lower on Wednesday, as investors were cautious ahead of the upcoming May Day ‘Golden Week’ holiday, while persistent geopolitical tensions also weighed on sentiment.
European market indexes are trading lower taking their cue from a downbeat session on Wall Street after the First Republic Bank reported its deposits dropped 40% in the first quarter. Mining stocks are performing well after following heavy losses in the previous session. The US future indexes, Dow and Nasdaq futures are trading higher at this moment at 5.30 pm IST.
Conclusion
The Indian stock markets once again traded in a narrow range and ended with minor gains. The domestic markets are not getting support from global markets. Though the tone of the market is positive, the lack of any fresh trigger capped the upside. Tomorrow, markets are expected to remain volatile due to the monthly F&O expiry. You can follow our Daily Morning Report at 7.30 am for market direction.
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