Nifty and Bank Nifty Prediction for Tomorrow 27 Dec 2022
Nifty and Bank Nifty Prediction for Tomorrow 27 Dec 2022: Indian equity markets ended with strong gains on Monday amid positive global cues. The key indexes extended their gains as the session progressed and snapped a four-day losing streak. On a sectoral front, barring pharma, all other sectoral indices closed in the green today. The rally was led by PSU Banks, Media, Banking, and Metals
The market breadth was quite strong today. The broader markets outperformed the benchmarks, as Nifty mid and smallcap indexes gained 2.72 percent and 3.81 percent respectively. At the close, Nifty and Sensex gained 1.17 percent and 1.20 percent respectively and ended above their psychological levels Sensex above 60K and Nifty above 18K. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 26 Dec
The Nifty futures price opened at 17890.05 making a positive opening of 26.15 points today. It has touched an intraday high of 18106 and a day’s low of 17835.55
The Nifty futures price has given a movement of 270.45 points today. In the end, it closed higher by 154.20 points or 0.86 percent and ended at 18018.10 levels.
The Bank Nifty futures opened at 41800.05 It made a positive opening of 64.6 points. The Bank Nifty futures touched an intraday high at 42845 and a day’s low at 41640.15
During the day, the Bank Nifty futures have given a movement of 1204.85 points. In the end, it closed higher by 919.80 points or 2.20 percent and closed at 42655.25 levels.
Nifty & Bank Nifty Prediction for Tomorrow 27 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Tomorrow 27 Dec 2022
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18150 whereas All Down Moves Initiates Short Covering (Buy) @ 17950
If the Nifty futures (Dec Series) share price Moves Above 18078 and sustains. Then you should Buy with the 1st Target of 18108 during the day with a Stop Loss of 18050 FOR the Target of 18108- 18154- 18218
If the Nifty futures (Dec Series) share price Moves Below 17970 and is sustained. Then you should Sell with the 1st Target of 17935 for the day with a Stop Loss of 18022. For the Target of 17935- 17898-17860
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Bank Nifty Futures Prediction for Tomorrow 27 Dec 2022
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43000 whereas All Down Moves Initiates Short Covering (Buy) @ 42400
Suppose the Bank Nifty futures (Dec Series) Moves Above 42820 and sustain, then you should Buy with the 1st Target of 42905 during the day with a Stop Loss of 42700 and the Target of 42905- 43040 – 43150
If the Bank Nifty futures (Dec Series) Moves Below 42480 and sustain, then you should Sell with the 1st Target of 42400 the day with a Stop Loss of 42605. For the Target of 42400- 42310- 42220
Global Stock Market Updates
The other Asian stock market indexes closed higher on Monday, following gains from US markets on Friday. The markets in Australia, New Zealand, and Hong Kong were closed today due to Christmas Holiday. Investors remain cautious and closely monitoring the Covid situation in China. Meanwhile, China has decided to no longer publish the daily figure of Covid-19 cases, and deaths, the National Health Commission said on Sunday. The European and US markets are closed today on account of the Christmas Holiday.
Conclusion
Indian stock markets bounced back after a four-day sell-off, as investors bet on the recent beaten-down stocks. In absence of any major global events due to year-end, the domestic markets may trade sideways on a positive note. You can also follow our daily morning report at 7.30 am IST for market direction.
Also, read Algo Trading Definition: Pros and Cons of Algorithmic trading
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