Nifty and Bank Nifty Prediction for Monday, 14 March 2022
Nifty and Bank Nifty Prediction for Monday, 14 March 2022: Indian equity markets opened lower on Friday amid negative cues from the global markets due to surges in US inflation and hawkish ECB policy. Later the markets erased their early losses and closed marginally higher after a choppy trading session on the back of buying in pharma stocks. The broader markets also gained following their larger peer on Friday.
FIIs were the sellers and DIIs were the buyers in the cash market segment on the last day of the week. FIIs sold Rs 2263.90 crore while DIIs bought Rs 1686.85 crore on Friday.
You can read Friday’s market updates here and weekly stock market analysis here
Nifty, Nifty Bank futures price movement on Friday, 11 March (March Expiry)
On Friday, 11 March, the Nifty futures ( March Series) opened at 16510 levels, it made a gap-down opening of 101.9 points. It has touched an intraday high at 16707.80 and a day’s low at 16475.05
The Nifty future has given a movement of 232.75 points on Friday. In the end, it gained 42.35 points or 0.25 percent and ended at 16654.25 levels.
The Bank Nifty futures (March Series) opened at 34320 levels on the last day of the week. It made a gap-down opening of 227.2 points on Friday. It has touched an intraday high at 34936 and a day’s low at 34153.25
On Friday, the Bank Nifty future gave a movement of 782.75 points. In the end, it gained 57.80 points or 0.17 percent and closed at 34605 levels.
Nifty & Bank Nifty Prediction for Monday, 14 March 2022 (March Expiry)
Nifty Futures Prediction for Monday 14 March 2022
Primary Nifty Trend in futures: Negative with a Cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16725 whereas All Down Moves Initiates Short Covering (Buy) @ 16450
If the Nifty futures share price Moves Above 16686 and sustain. Then you should Buy with 1st Target of 16724 during the day with a Stop Loss of 16640 FOR the Target of 16724- 16752- 16780-16830( Break out)
If the Nifty futures share price Moves Below 16545 and is sustained. Then you should Sell with the 1st Target of 16515 during the day with a Stop Loss of 16615. FOR the Target of 16515- 16460- 16418- 16375 (Break down)
Bank Nifty Futures Prediction for Monday, 14 March 2022
Primary Trend of Bank Nifty Futures: Negative with Cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34850, whereas All Down Moves Initiates Short Covering (Buy) @ 33900
Suppose the Bank Nifty futures Moves Above 34730 and sustain, then you should Buy with the 1st Target of 34870 during the day with a Stop Loss of 34600. FOR the Target of 34870 – 35035 – 35203- 35350 (Break Out)
If the Bank Nifty futures Moves Below 34370 and sustain, then you should Sell with the 1st Target of 34260 during the day with a Stop Loss of 37550. FOR the Target of 34260 – 34130- 34050- 33900 (Break Down)
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Global stock market updates
European markets closed higher on Friday after remarks made by the Russian President that his diplomats had seen “certain positive shifts” in their talks with Ukraine negotiators in Turkey, however, markets trimmed some intraday gains in the end. The market sentiments were also optimistic as UK’s economy grew by 0.8 percent in January after contracting 0.2 percent in December.
It was a positive opening for the US markets on Friday as traders were optimistic after Putin’s said there had been positive developments during the talks with Ukraine in Turkey. The markets later turned negative on Friday, as the crude oil prices rebound and decline in technology share
Conclusions
Indian equity markets were trading volatile in line with their global peers. The benchmark indices traded in a narrow range and managed to close in the green on the last day of the week. The BJP’s win in 4 out of 5 states in the assembly election has also boosted the market sentiment on Friday. However, the volatility in crude oil prices and uncertainty of the ongoing Russia and Ukraine war capped the upside of the market.
Tomorrow, you can read “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, What Is Cryptocurrency? Is Crypto legal in India in 2022?
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