Nifty and Bank Nifty Prediction for Tomorrow 29 April 2022
Nifty and Bank Nifty Prediction for Tomorrow 29 April 2022: Indian equity markets opened higher on Thursday following the positive cues from the Asain markets. The domestic markets were trading strong and gradually extended their early gains on the back of buying in FMCG, Energy, and Banking stocks. The broader markets underperformed today, as compared to the benchmark indices.
The volatility index India VIX fell more than 5 percent today. In the end, the benchmark indices Sensex and Nifty gained by more than 1 percent each today. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 28 April (April Expiry)
The Nifty futures price opened at 17149, making a positive opening of 95.2 points. It has touched an intraday high of 17321.05 and a day’s low of 17072.65
The Nifty futures price has given a movement of 248.4 points today. In the end, it closed higher by 191.20 points or 1.12 percent and ended at 17245 levels.
The Bank Nifty futures opened at 36190, It made a positive opening of 99.35 points. The Bank Nifty futures has touched an intraday high at 36499.95 and a day’s low at 35934.25
During the day, the Bank Nifty futures has given a movement of 565.7 points. In the end, it closed higher by 331.35 points or 0.92 percent and closed at 36422 levels.
Nifty & Bank Nifty Prediction for Tomorrow 29 April 2022 (May Expiry)
Nifty Futures Prediction for Tomorrow 29 April 2022
Primary Nifty Trend in futures: Positive with Cautious Bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17410 whereas All Down Moves Initiates Short Covering (Buy) @ 17180
If the Nifty futures share price Moves Above 17282 and sustain. Then you should Buy with 1st Target of 17318 during the day with a Stop Loss of 17245 FOR the Target of 17318- 17375 – 17413- 17442
If the Nifty futures share price Moves Below 17172 and is sustained. Then you should Sell with the 1st Target of 17138 for the day with a Stop Loss of 17205. FOR the Target of 17138-17110- 17078- 17034
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Bank Nifty Futures Prediction for Tomorrow 29 April 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36950 whereas All Down Moves Initiates Short Covering (Buy) @ 36000
Suppose the Bank Nifty futures Moves Above 36615 and sustain, then you should Buy with the 1st Target of 36740 during the day with a Stop Loss of 36470 the Target of 36740- 36830- 36960- 37130
If the Bank Nifty futures Moves Below 36400 and sustain, then you should Sell with the 1st Target of 36190 the day with a Stop Loss of 36110. FOR the Target of 36190 – 36025 – 35905 – 35785
Global Stock Markets today
On the global front, other Asian markets closed higher today as the Bank of Japan keeps its rates unchanged and pledged for ultra-loose monetary policy. The sentiment got boosted after Japan’s economic retail sales were up more than expected in March. Chinese President Xi Jinping indicated a massive new effort in constructing infrastructure.
European markets are trading strong as investors focus on some solid quarterly earnings reported today and ignore the concerns about a cut in gas supplies in eastern Europe. The US future indexes, Dow, and Nasdaq futures are also trading strong at this moment at 5 pm IST.
Conclusion
Indian benchmark indexes recovered their previous day’s losses and gained more than 1 percent each today. The rally in the markets was due to strong quarterly earnings, global as well as on the domestic front. The HUL share prices gained around more than 4 percent after the quarterly result was announced yesterday. The heavyweight Reliance hit the fresh record high of Rs 2851 and became the most valued listed share in India with a market cap of $250 billion.
All sectoral indices also participated in the rally today. The volatility index India VIX also cooled down and closed below 20 today.
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