Nifty & Bank Nifty Prediction for Tomorrow. 28 Oct 2021
Nifty and Bank Nifty Futures Prediction for Tomorrow. 28 Oct 2021: Indian equity market indexes opened in the green on Wednesday amid negative cues from the other Asian market peers. Markets were traded above their neural lines in the first half today on the back of buying in the PSU Bank, Pharma, and Realty stocks. Later, in the second half benchmark indexes erased all intraday gains and closed marginally lower today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 27 October (Oct Expiry)
The Nifty futures price opened at 18308, making a negative opening of 6.15 points on Thursday. It has touched an intraday high at 18350 and a day’s low at 18181
The Nifty futures price has given a movement of 169 points today. In the end, it declined 118.15 points or 0.65 percent and ended at 18196 levels.
The Bank Nifty futures opened at 41305. It made a negative opening of 55.45 points today. It has touched an intraday high at 41364.40 and a day’s low at 40840.40
During the day, the Bank Nifty in futures has given a movement of 524 points. In the end, it closed lower by 509.05 points or 1.23 percent and closed at 40851.40 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 28 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 28 Oct 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18280 whereas All Down Moves Initiates Short Covering (Buy) @ 18150
If the Nifty futures share price Moves Above 18234 and sustain. Then you should Buy with 1st Target of 18262 during the day with a Stop Loss of 18200 FOR the Target of 18262-18285- 18312
If the Nifty futures share price Moves Below 18168 and is sustained. Then you should Sell with the 1st Target of 18138 during the day with a Stop Loss of 18195. FOR the Target of 18138- 18113- 18082
Bank Nifty Futures Predictions for Tomorrow, 28 Oct 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41200, whereas All Down Moves Initiates Short Covering (Buy) @ 40700
Suppose the Bank Nifty futures Moves Above 40965 and sustain, then you should Buy with the 1st Target of 41060 during the day with a Stop Loss of 40870. FOR the Target of 41060 – 41195 – 41385
If the Bank Nifty futures Moves Below 40720 and sustain, then you should Sell with the 1st Target of 40550 during the day with a Stop Loss of 40840. FOR the Target of 40550 – 40435 – 40340
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Global markets today
On the global front, the other Asian markets closed mostly in the red today. Shanghai slipped around 1 percent as Modern Land become the latest Chinese developer to default on a bond interest payment. Traders are also worried about the recent spike in coronavirus cases in China. As per market experts, Asian markets may see further outflow from the markets due to such kind of bad news from China.
European market indexes are trading lower on Wednesday due to the weakness in Asian markets. Investors also preferred to stay aside from the markets ahead of the UK’s autumn Budget. The US future indexes, Dow and Nasdaq futures are trading marginally lower at this time.
Conclusions
Indian markets closed in the red mainly due to the weakness in the Asian markets. A sharp sell-off was witnessed in the last hour due to selling pressure in the selected stock in Banking, Metals, and Energy space. Going ahead, the market volatility is likely to continue tomorrow due to the monthly F&O expiry. Traders should remain cautious and trade with strict stop loss
Also read, Best Options Trading Books in India-Must Read 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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