Nifty and Bank Nifty Prediction for Tomorrow 29 March 2023
Nifty and Bank Nifty Prediction for Tomorrow 29 March 2023: Indian equity market indexes ended with minor cuts after a volatile session on Tuesday. The domestic market indexes pared some intraday losses in the last hour on the back of buying in banking and financial stocks. The selling pressure was witnessed mainly in media, realty, auto, metals, and energy stocks.
The market breadth was negative, as sellers outnumbered buyers. On NSE 499 shares rose while 1544 shares fell on Tuesday. The broader markets underperformed the frontline index, as Nifty mid and smallcap indexes closed lower by 0.35 percent and 0.91 percent respectively. At the close, Sensex and Nifty declined 0.07 percent and 0.20 percent respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 28 March
The Nifty futures price opened at 17065 making a positive opening of 27.6 points today. It has touched an intraday high of 17088.25 and a day’s low of 16927.45
The Nifty futures price has given a movement of 160.8 points today. In the end, it closed lower by 59.70 points or 0.35 percent and ended at 16977.70 levels.
The Bank Nifty futures opened at 39586 It made a positive opening of 16 points today. The Bank Nifty futures touched an intraday high at 39645.65 and a day’s low at 39383.35
During the day, the Bank Nifty futures have given a movement of 262.3 points. In the end, it closed higher by 145.60 points or 0.37 percent and closed at 39632 levels.
Nifty & Bank Nifty Prediction for Tomorrow 29 March 2023
Nifty Futures Prediction for Tomorrow 29 March 2023
Primary Nifty Trend in futures: Negative and volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17060 whereas All Down Moves Initiates Short Covering (Buy) @ 16850
If the Nifty futures (March Series) share price Moves Above 17032 and sustains. Then you should Buy with the 1st Target of 17070 during the day with a Stop Loss of 17007 FOR the Target of 17070- 17094- 17130- 17165
If the Nifty futures (March Series) share price Moves Below 16954 and is sustained. Then you should Sell with the 1st Target of 16921 for the day with a Stop Loss of 16985. For the Target of 16921- 16895- 16864- 16830
If you want Live Trading calls for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 29 March 2023
Primary Trend of Bank Nifty Futures: Negative and Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39800 whereas All Down Moves Initiates Short Covering (Buy) @ 39300
Suppose the Bank Nifty futures (March Series) Moves Above 39840 and sustain, then you should Buy with the 1st Target of 39950 during the day with a Stop Loss of 39700 and the Target of 39950- 40050- 40170- 40250
If the Bank Nifty futures (March Series) Moves Below 39470 and sustain, then you should Sell with the 1st Target of 39410 the day with a Stop Loss of 39625. For the Target of 39410- 39330- 39250- 39134
Global Stock Market Updates
On the global front, the other Asian stock market indexes ended mostly higher after the recent banking turmoil in US and Europe eased. The markets sentiments improved, and the global stocks and US bond yields rose after a US regulator-backed deal by First Citizens BancShares to buy failed Silicon Valley Bank.
Japan’s Nikkei ended higher as banks share rallied and become top performer today. Hang Seng gained more than 1 percent leading gains in the region. Australia’s index ended higher as retail sales jumped compared to the previous year. While China’s Shanghai closed slightly lower today, as a series of weak earnings reports dashed the hopes of a quick recovery this year.
European stock market indexes gave up early gains and are trading marginally higher at this time (5 pm IST). The sentiments were upbeat in the morning as the global banking crisis eased, while some cautiousness in the market is seen ahead of weekly economic data. In the US, the Dow future is trading marginally higher while the Nasdaq future is trading slightly down at this moment.
Conclusion
The domestic stock market indexes traded lackluster and ended marginally lower in absence of any major trigger. However, global markets mostly closed in the green as the tension in the banking crisis eased. Tomorrow markets are likely to remain volatile due to the scheduled monthly F&O expiry. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Amazon Audible- Top 5 Stock Market Audiobooks for free
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 29 March 2023” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
