Nifty Bank Nifty Prediction for Tomorrow, 14 Sept 2021
Nifty Bank Nifty Prediction for Tomorrow, 14 September 2021: Indian stock markets opened negative after a long weekend on Monday amid negative global market cues. The markets traded below their neutral lines throughout the day on the back of selling in Banking and Energy stocks. In the end, markets closed marginally lower on the first day of the week.
Other than the negative cues from the global markets traders were worried as periodic labor force survey by the National Statistical Office (NSO) showed that the unemployment rate for all ages in urban areas rose to 10.3 percent in Oct-Dec 2020 as compared to 7.9 percent in the same period the previous year.
However, the downside of the market remained capped as PM Modi stated that India’s economy has recovered more strongly as compared to the impact the Covid-19 pandemic had on it.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot levels
At the closed, Nifty declined 13.95 or 0.08 percent and closed at 17355.30 while Sensex was down by 127.31 points or 0.22 percent and finished at 58177.76 levels. The Bank Nifty on spot levels closed lower by 211.40 points or 0.58 percent and ended at 36471.80 levels.
The broader markets outperformed the benchmark indices today. The Nifty midcap index gained 132.35 points or 0.45 percent and closed at 29473.45 levels. The Nifty smallcap index was up by 57.20 points or 0.54 percent and finished at 10744.95 levels.
The top five gainers in the Nifty50 index were Coal India, Hindalco, Kotak Bank, Tata Steel, and BPCL. the top five losers are Reliance, ICICI Bank, SBI Life, Hindustan Unilever, and HDFC Bank. The most active stocks in the Nifty50 index were in terms of value were Reliance, Bharti Airtel, and HDFC. The most active stocks in the Nifty 50 index in terms of volume were Coal India, Bharti Airtel, and Hindalco.
On a sectoral front, Metals, IT, Finance, Automobiles, Healthcare sectors closed as the top gainers. The sectors that closed in the red were Oil & Gas, Banking, Infrastructure, FMCG, and Consumer Durables.
Nifty and Nifty Bank futures price movement for 13 Sept (Sept Expiry)
The Nifty futures price opened at 17355.25 and made a negative opening of 9.05 points. It has touched an intraday high at 17393.10 and a day’s low at 17264
The Nifty futures price has given a movement of 129.10 points today. In the end, it was down by 2.30 points or 0.01 percent and ended at 17362 levels.
The Bank Nifty futures opened at 36730.60. It made a negative opening of 41.95 points today. It has touched an intraday high at 36744.90 and a day’s low at 36412
During the day, the Bank Nifty in futures has given a movement of 332.9 points. In the end, it closed lower by 180.55 points or 0.49 points and closed at 36592 levels
Nifty & Bank Nifty Prediction for Tomorrow, 14 Sept 2021 (Sept Expiry)
Nifty Futures Prediction for Tomorrow, 14 Sept 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17415 whereas All Down Moves Initiates Short Covering (Buy) @ 17320
If the Nifty futures share price Moves Above 17385 and sustain. Then you should Buy with 1st Target of 17412 during the day with a Stop Loss of 17313 FOR the Target of 17412-17434- 17468
If the Nifty futures share price Moves Below 17313 and is sustained. Then you should Sell with the 1st Target of 17290 during the day with a Stop Loss of 17385. FOR the Target of 17290- 17265-17238
Bank Nifty Futures Prediction for Tomorrow, 14 Sept 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36750, whereas All Down Moves Initiates Short Covering (Buy) @ 36400
Suppose the Bank Nifty futures Moves Above 36675 and sustain, then you should Buy with the 1st Target of 36750 during the day with a Stop Loss of 36418. FOR the Target of 36750 – 36835 – 36930
If the Bank Nifty futures Moves Below 36418 and sustain, then you should Sell with the 1st Target of 36335 during the day with a Stop Loss of 36675. FOR the Target of 36335 – 36250 – 36090
Global markets today
On the global front, Asian markets mostly closed in the red on Monday as a surge in US inflation to a record high and new North Korea missile tests made nervous the investors. European markets are trading higher on Monday despite weak cues from the Asian markets. The US future indexes, Dow and Nasdaq futures are trading higher at this moment at 5 pm IST
CPI Inflation rate:
The August CPI inflation was at 5.30%, the rate is compared to 5.59% in July, the expectation for August was 5.70 %.
Conclusions
Indian markets traded in a narrow range and closed marginally lower on Monday. The smallcap and midcap outperformed the benchmark indices. Traders were cautious ahead of CPI inflation data, expected post-market hours. Tomorrow, markets will first react to the CPI data released today.
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Also read, Trading Strategy- Nifty, Bank Nifty for (13 -17 Sept 2021)
Intraday Trading books to make money from Stock Markets
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