Nifty | Bank Nifty Prediction for Monday, 13 Dec 2021
Nifty and Bank Nifty Prediction for Monday, 13 Dec 2021: Indian markets were closed flat to the negative on last Friday amid volatility. The broader markets outperformed the equity benchmark indices on the last day of the week. Investors remained cautious ahead of the IIP and US inflation data released later in the evening.
Foreign Institutional Investors (FIIs) were the net seller in the cash segment, they sold Rs 1092.40 crore whereas Domestic Institutional Investors bought Rs 386.63 crore on 10 December. In the last hour of trade, the state-owned bank’s rally was witnessed in anticipation that the new amendment of the Banking Regulation Act would allow the government to reduce its stake in PSU banks to below 50 percent.
You may like to read Reasons behind the stock market rally – Weekly Analysis
Nifty and Nifty Bank futures price movement on Friday 10 Dec (Dec Expiry)
On Friday, 10 December, Nifty futures opened at 17532 levels, down by 36.05 points. It has touched an intraday high at 17585 and a day’s low at 17435.45.
The Nifty future has given a movement of 149.55 points on Friday. In the end, it declined 12.40 points or 0.07 percent and ended at 17549 levels.
The Bank Nifty futures opened at 37103.70 levels on the last day of the week. It made a negative opening of 124.55 points on Friday. It has touched an intraday high at 37296 and a day’s low at 36927.45
On Friday, the Bank Nifty future gave a movement of 368.55 points. In the end, it gained only by 6.75 points or 0.02 percent and closed at 37235 levels
Nifty & Bank Nifty Prediction for Monday, 13 Dec 2021 (Dec Expiry)
Nifty Futures Prediction for Monday, 13 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17700 whereas All Down Moves Initiates Short Covering (Buy) @ 17540
If the Nifty futures share price Moves Above 17585 and sustain. Then you should Buy with 1st Target of 17615 during the day with a Stop Loss of 17556 FOR the Target of 17615-17638- 17695
If the Nifty futures share price Moves Below 17490 and is sustained. Then you should Sell with the 1st Target of 17468 during the day with a Stop Loss of 17512. FOR the Target of 17468- 17440- 17419
Bank Nifty Futures Prediction for Monday, 13 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37800, whereas All Down Moves Initiates Short Covering (Buy) @ 37200
Suppose the Bank Nifty futures Moves Above 37430 and sustain, then you should Buy with the 1st Target of 37556 during the day with a Stop Loss of 37280. FOR the Target of 37556 – 37690 – 37930
If the Bank Nifty futures Moves Below 37130 and sustain, then you should Sell with the 1st Target of 37050 during the day with a Stop Loss of 37230. FOR the Target of 37050 – 36952 – 36870
Global market indexes
On the global front, European markets declined on Friday. Traders were nervous about the Omicron Covid variant and its vaccine efficacy. The US inflation released on 10 December came in line with the expectation but there is again uncertainty in relation to US monetary policy which is scheduled next week.
The US markets gained and the S&P 500 touched an all-time high, last Friday despite the inflation data came record high of 39 years. Investors digested an inflation reading that was in line with consensus.
Conclusions
The Indian stock markets will continue to remain volatile in the coming week. The markets will first react to the IIP and US inflation data on Monday. There are also a few important events like the country’s Inflation data and FOMC meeting outcome which are lined up next week. These two events will derive the market next 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, These Stock Courses will help you to enhance your Futures & Options Knowledge
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