Nifty and Bank Nifty Prediction for Tomorrow 28 April 2023
Nifty and Bank Nifty Prediction for Tomorrow 28 April 2023: Indian equity market indexes ended with significant gains on Thursday. The domestic market sentiments were positive as foreign investors turned into buyers on Wednesday, after selling seven consecutive sessions. The markets were volatile today due to the expiry of April 2023 F&O contracts on NSE. Barring the FMCG index all other sectoral indices on NSE closed in the green.
The market breadth was strong today, on NSE 1189 shares were in advance while 747 shares declined. The broader markets also closed higher, as Nifty mid and smallcap indexes gained 0.56 percent and 0.80 percent respectively. At the close, Sensex and Nifty advanced 0.58 percent and 0.57 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 27 April ( April Series)
The Nifty futures price on Monday opened at 17791, making a negative opening of 23.9 points today. It has touched an intraday high of 17920.05 and a day’s low of 17791
The Nifty futures price has given a movement of 129.05 points today. In the end, it closed higher by 104.50 points or 0.59 percent and ended at 17919.40 levels.
The Bank Nifty futures on Monday opened at 42820.45 It made a negative opening of 2.7 points today. The Bank Nifty futures touched an intraday high at 43036.15 and a day’s low at 42748.05
During the day, the Bank Nifty futures have given a movement of 288.1 points. In the end, it closed higher by 181.85 points or 0.42 percent and closed at 43005 levels.
Nifty & Bank Nifty Prediction for Tomorrow 28 April 2023
Nifty Futures Prediction for Tomorrow 28 April 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18100 whereas All Down Moves Initiates Short Covering (Buy) @ 17900
The Nifty futures May Series closed at 17995.80 levels. If the Nifty futures (May Series) share price Moves Above 18018 and sustains. Then you should Buy with the 1st Target of 18047 during the day with a Stop Loss of 17980 FOR the Target of 18047- 18082- 18112- 18148
If the Nifty futures (May Series) share price Moves Below 17940 and is sustained. Then you should Sell with the 1st Target of 17915 for the day with a Stop Loss of 17962. For the Target of 17915- 17885- 17835- 17785
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Bank Nifty Futures Prediction for Tomorrow 28 April 2023
Primary Trend in Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43250 whereas All Down Moves Initiates Short Covering (Buy) @ 42800
The Bank Nifty futures May series closed at 43000. Suppose the Bank Nifty futures (May Series) Moves Above 43104 and sustain, then you should Buy with the 1st Target of 43185 during the day with a Stop Loss of 43020 and the Target of 43185- 43270- 43350- 43460
If the Bank Nifty futures (May Series) Moves Below 42920 and sustain, then you should Sell with the 1st Target of 42840 the day with a Stop Loss of 42980. For the Target of 42840- 42750- 42640- 42550
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Global Stock Market Updates
On the global front, Asian market indexes mostly erased early losses and closed in the green, as investors focus on the Bank of Japan’s policy meeting led by new BOJ governor Kazuo Ueda. The upside remained capped as investors worried about the US recession and a possible banking crisis. The fresh trouble in US First Republic Bank continued to unnerve investors amid concerns that growth in the world’s biggest economy could go into reverse.
Japan’s Nikkei erased early losses and closed higher despite the brokerage house Nomura posting a drop in quarterly results. Hang Seng and Shanghai indexes ended higher as investors continued to weigh geopolitical tensions and industrial profits data to gauge the pace of China’s economic recovery in the midst of the earnings season. The latest data showed China’s industrial profits shrank at a slightly slower pace in January-March
European stock market indexes are trading slightly higher, as Investor’s concern about banking sector stability and looking ahead to flash US GDP data. The US Dow and Nasdaq futures are trading higher at 5.30 pm IST, indicating a positive opening for the US markets.
Conclusion
The Indian stock markets opened flat and gradually moved higher as the session progressed on the expiry day. The equity benchmarks ended near the day’s high today. Domestic markets are looking strong despite weakness in the global markets. You can follow our Daily Morning Report at 7.30 am for market direction.
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