Nifty and Bank Nifty prediction for Monday, 10 Jan 2022
Nifty and Bank Nifty prediction for Monday, 10 Jan 2022: It was a great start for the Indian stock markets for the year 2022. The markets gained more than 2.5 percent during the week ended 7 January on the back of buying in banking and oil & gas stocks. You can read last week’s markets updates and analysis here.
Indian equity benchmark indices opened higher on Friday but later trimmed their intraday gains as investors were cautious ahead of the US payroll data announced. The key indices closed marginally higher on the last day of the week. The broader markets also gained, as Nifty midcap and smallcap indexes closed in the green. The markets gained on the back of buying in Oil & Gas, Banking, FMCG, Metals, and IT stocks. FIIs bought Rs 496.27 crore while DIIs sold Rs 115.66 crores in the cash segment on Friday. You can read Friday’s market updates here.
Nifty and Nifty Bank futures price movement on Friday, 7 January (Jan Expiry)
On Friday, 7 January, Nifty futures opened at 17831.10 levels, it made a positive opening of 42.45 points. It has touched an intraday high at 17949 and a day’s low at 17736.
The Nifty future has given a movement of 213 points on Friday. In the end, it gained 66.35 points or 0.37 percent and ended at 17855 levels.
The Bank Nifty futures opened at 37775 levels on the last day of the week. It made a positive opening of 145.8 points on Friday. It has touched an intraday high at 38250 and a day’s low at 37504
On Friday, the Bank Nifty future gave a movement of 746 points. In the end, it gained by 227.15 points or 0.60 percent and closed at 37856.35 levels.
Nifty & Bank Nifty Prediction for Monday, 10 Jan 2022 (Jan Expiry)
Nifty Futures Prediction for Monday, 10 Jan 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17980 whereas All Down Moves Initiates Short Covering (Buy) @ 17800
If the Nifty futures share price Moves Above 17875 and sustain. Then you should Buy with 1st Target of 17909 during the day with a Stop Loss of 17846 FOR the Target of 17909- 17947- 17984
If the Nifty futures share price Moves Below 17809 and is sustained. Then you should Sell with the 1st Target of 17780 during the day with a Stop Loss of 17832. FOR the Target of 17780- 17730- 17690
Bank Nifty Futures Prediction for Monday, 10 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38400, whereas All Down Moves Initiates Short Covering (Buy) @ 37700
Suppose the Bank Nifty futures Moves Above 37955 and sustain, then you should Buy with the 1st Target of 38130 during the day with a Stop Loss of 37870. FOR the Target of 38130 – 38260 – 38425
If the Bank Nifty futures Moves Below 37720 and sustain, then you should Sell with the 1st Target of 37625 during the day with a Stop Loss of 37800. FOR the Target of 37625 – 37505 – 37410
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Global stock market updates
On the global front, European markets closed mostly in the red on Friday. The indexes closed mostly lower at the end of the week as eurozone inflation hit a new record in December. Earlier, investors were cautious ahead of the US payroll data and later reacted negatively as the data missed analysts’ expectations.
Wall Street opened flat on Friday, the key benchmark indexes slipped after the announcement of the latest job data for the month of December.
Conclusions
Indian markets ended marginally higher on Friday and gained for the third consecutive week. Last week, FIIs have turned buyers, which is a positive for the markets. Markets gained despite there being a spike in omicron cases and restrictions imposed in several places, as traders bet on the impact of the third wave would be milder than the earlier one.
Going ahead, experts feel that markets are likely to consolidate further after the recent rally. Meanwhile, volatility is likely to remain high due to mixed global cues and economic data expected in the coming week.
Tomorrow, you can follow “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, 5 Best Stock Market Books- Beginners Must Read in 2021
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