Nifty and Bank Nifty Prediction for Monday 11 July 2022
Nifty and Bank Nifty Prediction for Monday 11 July 2022: Indian equity markets opened a gap-up on Friday amid positive global cues. The benchmark indices trimmed some early gains, soon after opening, but traded above their neutral lines throughout the day. Bank Nifty also marched ahead crossing the 35000 marks after a long time with improved bias and opened the door for further up move.
Among the sectors, the Metals and Realty sectors witnessed profit booking on Friday while Capital Goods, Energy, Banks, and FMCG sectors were the gainers. The broader markets also closed higher almost in line with their larger peers. FIIs were the net sellers, they sold 109.31 crores while DIIs bought only 34.61 crores in the equity cash segment on the last day of the week.
Indian markets remained cautious in the afternoon session on Friday ahead of US monthly job data. The market breadth was quite strong with the advance-decline indicating a ratio of 2:3 at the close. In the end, Sensex and Nifty closed higher by 0.56 percent and 0.54 percent respectively on Friday.
Nifty and Nifty Bank futures price movement on Friday 8 July (July Expiry)
On Friday, July 8, the Nifty futures (July Series) opened at 16248 levels, it made a positive opening of 99.85 points. It has touched an intraday high at 16250 and a day’s low at 16160
The Nifty future has given a movement of 90 points on Friday. In the end, it gained 79.60 points or 0.49 percent and ended at 16227.75 levels.
The Bank Nifty futures (July Series) opened at 35150 levels on the last day of the week. It made a positive opening of 168.2 points on Friday. It has touched an intraday high at 35300 and a day’s low at 35016
On Friday, the Bank Nifty future gave a movement of 284 points. In the end, it was up by 213.20 points or 0.61 percent and closed at 35195 levels.
Nifty & Bank Nifty Prediction for Monday 11 July 2022 (July Expiry)
Nifty Futures Prediction for Monday 11 July 2022
Primary Nifty Trend in futures: Positive with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16400 whereas All Down Moves Initiates Short Covering (Buy) @ 16150
If the Nifty futures share price Moves Above 15235 and sustain. Then you should Buy with 1st Target of 15285 during the day with a Stop Loss of 15202 FOR the Target of 15285- 15322-15362- 15427
If the Nifty futures share price Moves Below 16160 and is sustained. Then you should Sell with the 1st Target of 16132 during the day with a Stop Loss of 16192. FOR the Target of 16132- 16100- 16082- 16040
Bank Nifty Futures Prediction for Monday 11 July 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700, whereas All Down Moves Initiates Short Covering (Buy) @ 35000
Suppose the Bank Nifty futures Moves Above 35355 and sustain, then you should Buy with the 1st Target of 35450 during the day with a Stop Loss of 35230. FOR the Target of 35450 – 35560- 35710- 35830
If the Bank Nifty futures Moves Below 34975 and sustain, then you should Sell with the 1st Target of 34870 during the day with a Stop Loss of 35125. FOR the Target of 34870 – 34780- 34700- 34615
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Global stock market updates
The US markets were volatile on Friday and closed mixed on Friday as the monthly job growth remained strong. Investors are now worried that the strong job growth could influence Fed to hike interest rates aggressively in July’s meeting. However, the other economic data disappointed, as industrial manufacturing to home construction data showed a drop-in activity and sent mixed signals to investors.
European markets closed higher on Friday as investors digested the latest and apparently stronger than expected monthly US job data and political developments in London. European markets trimmed their early gains on Friday as Italy’s industrial production declined in May and France’s current account and trade deficit rose in May.
Conclusions
Indian stock market indexes gained for the third consecutive day with the support of positive global cues. However, markets traded in a narrow range and were cautious ahead of US monthly job data. Going ahead, markets are looking positive and inflation data will be in focus next week.
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