Nifty and Bank Nifty Prediction for Tomorrow Sept 15, 2023
Nifty and Bank Nifty Prediction for Tomorrow Sept 15, 2023: Indian equity benchmarks ended the volatile session with minor gains on Thursday. The domestic market sentiments remain positive following gains from Asian markets. Meanwhile, the fresh data released on Thursday showed that India’s WPI inflation stayed under zero on an annual basis for the fifth time in a row.
Among the sectors, Nifty PSU Bank, Metal, and Realty sectors gained the most while the Media and FMCG sectors were under pressure. The market breadth was quite strong. On the NSE, 1502 shares were advanced while 537 shares declined at the close. The NSE volatility index “India VIX” slipped 4.31 percent to the 11.32 level.
At the close, Sensex advanced 52.01 points or 0.08 percent and ended at 67519 levels while Nifty gained 33.10 points or 0.16 percent and settled at 20103.10 levels. The broader markets outperformed the benchmarks, as Nifty mid and smallcap indexes jumped 1.17 percent and 1.31 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 20150, making a positive opening of 24.85 points on Thursday. It has touched an intraday high of 20204.95 and a day’s low of 20095
The Nifty futures price has given a movement of 109.95 points during the day. In the end, it closed higher by 61.45 points or 0.31 percent and ended at 20186.60 levels.
The Bank Nifty futures opened at 46041.95. It made a positive opening of 40.01 points. The Bank Nifty futures touched an intraday high at 46210 and a day’s low at 45874.
During the day, the Bank Nifty futures have given a movement of 336 points. In the end, it closed higher by 96.15 points or 0.21 percent and closed at 46098 levels.
Nifty & Bank Nifty Prediction for Tomorrow Sept 15, 2023
Nifty Futures Prediction for Tomorrow Sept 15, 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves can initiate profit Booking @ 20250 whereas All Down Moves can Initiate Short Covering @ 20130
If Nifty futures for the Sept series move above 20207 and sustain. Then Nifty futures can touch 20235 during the day with a Stop Loss of 20185. In a day it could trade in a range of 20235- 20260- 20285 levels.
If the Nifty futures (Sept Series) share price Moves Below 20158 and is sustained. Then Nifty futures can touch 20132 levels for the day with a Stop Loss of 20170. In a day it could trade for the target of 20132- 20100 – 20070 level.
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Bank Nifty Futures Prediction for Tomorrow Sept 15, 2023
Primary Trend in Bank Nifty Futures- Positive
Range-Bound Trend of Bank Nifty Future: All up Moves can Initiate Profit Booking @ 46350 whereas All Down Moves can Initiate Short Covering @ 45900
Suppose the Sept series Bank Nifty futures move above 46235 and sustain, then Banknifty can touch 46330 levels during the day with a Stop Loss of 45160. During the day Bank Nifty futures could trade in the range of 46330- 46415- 46520 levels.
If the Bank Nifty futures (Sept Series) move below 46020 and sustain, then Banknifty can touch 45930 levels in a day with a Stop Loss of 46090. During the day Bank Nifty futures could trade in the range of 45930- 45850- 45760 levels.
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Global Stock Market Updates
The other Asian stock markets ended higher on Thursday, even after the US inflation rate came higher than expected in August, as investors expected that the Federal Reserve would leave interest rates unchanged in next week’s meeting. Meanwhile, the EU probe into Chinese state subsidies for its electric vehicle makers had little impact on China’s markets, China’s auto index fell sharply but later pared most of its early losses.
The People’s Bank of China (PBOC) has announced to cut the reserve requirement ratio (RRR) for all banks by 25 basis points from Sept.15. The news came after the market hours on Thursday.
Japan’s Nikkei made a sharp rally ahead of the Bank of Japan policy meeting next week. South Korea’s Kospi extended its early gains and ended on a strong note. Australia’s S&P/ASX 200 ended higher, as the unemployment rate released on Thursday was as per analyst’s estimates.
Hang Seng gained in the last hour, while the Shanghai index ended just above the flat line. Elsewhere, Straits Times, SET Composite, Jakarta, and Taiwan also ended higher on Thursday.
European stock market indexes are trading higher ahead of the European Central Bank interest rate decision later in the day. Auto stocks are trading lower, as initial optimism over an EU Probe into Chinese electric vehicle subsidies soured over fears of retaliatory action.
The US future indexes, Dow and Nasdaq futures are trading higher indicating a higher opening for the US markets today. In the US, the Producer Price and Retail Sales data will be released today. You can also follow our US markets Report at 10 PM IST.
Conclusion
The domestic markets traded range-bound on Thursday. The Nifty touched a new high in the morning session but profit booking was witnessed at the higher levels, as investors remain cautious ahead of economic data from US and ECB interest rate decisions later the day. You can follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Stock Market Prediction Next Week (11-15 Sept 2023)
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