Nifty and Bank Nifty Prediction for Tomorrow Sept 12, 2023
Nifty and Bank Nifty Prediction for Tomorrow Sept 12, 2023: Indian equity benchmarks ended with significant gains on Monday. The domestic markets closed higher for the seventh straight day amid mixed cues from Asian markets. Nifty hits the 20,000 mark for the first time. Barring Media all other sectoral indices closed in the positive territory with Nifty PSU Banks gaining the most, up by 3.13 percent followed by the Metal, and Auto sectors.
The market breadth was strong today. On the NSE, 1134 shares were advanced while 943 shares declined. The Indian NSE volatility index “India VIX” jumped 5.26 percent to 11.35.
At the close, Sensex gained 528.17 points or 0.79 percent and ended at 67127.08 levels, while Nifty advanced 176.40 points or 0.89 percent and settled at 19996.35 levels. The broader markets outperformed the benchmarks, as the Nifty mid and smallcap indexes gained 1.14 percent and 1.33 percent respectively. You can read the detailed market updates here
Nifty and Bank Nifty Futures Price Movement for (28 Sept expiry)
The Nifty futures price opened at 19912.10, making a positive opening of 39.65 points on Monday. It has touched an intraday high of 20051 and a day’s low of 19892
The Nifty futures price has given a movement of 159 points. In the end, it closed higher by 173.55 points or 0.87 percent and ended at 20046 levels.
The Bank Nifty futures opened at 45458.80. It made a positive opening of 139.15 points. The Bank Nifty futures touched an intraday high at 45765 and a day’s low at 45380.90
During the day, the Bank Nifty futures have given a movement of 384.1 points. In the end, it closed higher by 432.55 points or 0.95 percent and closed at 45752.20 levels.
Nifty & Bank Nifty Prediction for Tomorrow Sept 12, 2023
Nifty Futures Prediction for Tomorrow Sept 12, 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves can initiate profit Booking @ 20130 whereas All Down Moves can Initiate Short Covering @ 20000
If Nifty futures for the Sept series move above 20065 and sustain. Then Nifty futures can touch 20095 during the day with a Stop Loss of 20032. In a day it could trade in a range of 20095- 20127- 20152 levels.
If the Nifty futures (Sept Series) share price Moves Below 19995 and is sustained. Then Nifty futures can touch 19962 levels for the day with a Stop Loss of 20018. In a day, it could trade in a range of 19962- 19938 – 19906 level.
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Bank Nifty Futures Prediction for Tomorrow Sept 12, 2023
Primary Trend in Bank Nifty Futures- Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 46100 whereas All Down Moves can Initiate Short Covering @ 45700
Suppose the Sept series Bank Nifty futures move above 45865 and sustain, then Banknifty can touch 45960 levels during the day with a Stop Loss of 45790. During the day Bank Nifty futures could trade in the range of 45960- 46065- 46150 levels.
If the Bank Nifty futures (Sept Series) move below 45620 and sustain, then Banknifty can touch 45515 levels in a day with a Stop Loss of 45680. During the day Bank Nifty futures could trade in the range of 45515- 45390- 45285 levels.
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Global Stock Market Updates
The other Asian stock markets started on a mixed note on Monday, ahead of key economic data from China and other global markets, due later this week. Japan’s Nikkei ended lower while South Korea’s Kospi closed higher. Australia’s C&P/ASX 200 snapped a four-day losing streak and ended higher.
China’s traders were most optimistic in the region, as the Shanghai index gained the most in the region. Hang Seng trimmed some early losses but closed lower. Elsewhere, the Straits Times and Jakarta closed higher, while Taiwan and SET Composite ended in the red.
European stock market indexes are trading higher on Monday, as investors are looking ahead to the US inflation data and the European Central Bank’s interest rate decision later this week. Almost all sectors are trading in positive territory at this moment.
The US future indexes, Dow and Nasdaq futures are trading higher at 5 pm IST, indicating a positive opening for the US markets today. You can also follow our US markets Report at 10 PM IST.
Conclusion
Indian stock markets made a solid start to the week. As anticipated and discussed in the weekly report, Nifty finally hit the 20000 mark and ended near the day’s high. Going ahead, the positive momentum is likely to continue. You can follow our Daily Morning Report at 7:30 a.m. for market direction.
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