Nifty and Bank Nifty Prediction for Monday 19 Dec 2022
Nifty and Bank Nifty Prediction for Monday 19 Dec 2022: Indian equity market indexes ended lower on Friday amid weak global cues. The domestic market sentiments were hit, as major central banks across the globe raise the interest rates by 50 bps and maintain a hawkish stance. Further, the disappointing US retail sales data for November has elevated the recession worries among investors.
The market breadth was quite weak on Friday. Selling pressure was witnessed across all the sectors in NSE. The broader markets also closed lower and the Nifty midcap index underperformed the benchmarks. At the close, Sensex and Nifty fell 0.75 percent and 0.79 percent respectively on Friday.
Nifty and Nifty Bank futures price movement on Friday, 16 Dec (Dec Expiry)
On Friday, Dec 16, the Nifty futures (Dec Series) opened at 18367 levels, it made a negative opening of 100 points. It touched an intraday high at 18488.85 and a day’s low at 18313.20
The Nifty future has given a movement of 175.65 points on Friday. In the end, it declined 137.10 points or 0.74 percent and ended at 18329.90 levels.
The Bank Nifty futures (Dec. Series) opened at 43400 levels on the last day of the week. It made a negative opening of 176.45 points on Friday. It has touched an intraday high at 43654.70 and a day’s low at 43185
On Friday, the Bank Nifty future gave a movement of 469.7 points. At the close, it ended lower by 267.45 points or 0.61 percent and closed at 43309 levels.
Nifty & Bank Nifty Prediction for Monday 19 Dec 2022 (Dec Expiry )
Nifty Futures Prediction for Monday 19 Dec 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18400 whereas All Down Moves Initiates Short Covering (Buy) @ 18200
If the Nifty futures share price Moves Above 18374 and sustain. Then you should Buy with 1st Target of 18416 during the day with a Stop Loss of 18330 FOR the Target of 18416-18455- 18490
If the Nifty futures share price Moves Below 18290 and is sustained. Then you should Sell with the 1st Target of 18242 during the day with a Stop Loss of 18315. For the Target of 18242- 18204- 18168
Bank Nifty Futures Prediction for Monday 19 Dec 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43550, whereas All Down Moves Initiates Short Covering (Buy) @ 43000
Suppose the Bank Nifty futures Moves Above 43465 and sustain, then you should Buy with the 1st Target of 43540 during the day with a Stop Loss of 43300. For the Target of 43540- 43605- 43700
If the Bank Nifty futures Moves Below 43180 and sustain, then you should Sell with the 1st Target of 43090 during the day with a Stop Loss of 43260. For the Target of 43090- 42980- 42680
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Global stock market updates
The US stock market indexes extended losses and closed lower on Friday for the third straight session, as investors were concerned about the raising interest rate and worried about the health of the economy. The losses in utility, consumer goods, real estate, and oil and gas stocks dragged the US markets on Friday.
On the economic front, fresh data showed US business activity contracted further in December as the new orders fell to their lowest levels in just two and half years. However, the indexes pared some early losses in the last hour due to some weekly derivative expiry and closed in the red.
European stock market indexes closed lower on Friday as investors were concerned about the hawkish tone of the central bank chief on Thursday. The sharp losses in the last two sessions pushed the Pan-Europe Stoxx 600 index to a nearly five-week low. All sectors were down except banks, while telecoms led the losses at the close on Friday
On the economic news front, the ongoing decline in Eurozone business activity slowed unexpectedly in December as per the latest survey, which indicated that any recession in the single currency bloc may be milder than expected.
Conclusions
Indian stock markets closed lower for the second consecutive day last Friday. The sentiments were negative due to weak global cues after hawkish comments made by the major global central banks. Technically, markets are looking negative now and on Friday SGX Nifty closed flat to negative. You can also follow our Daily Morning Report at 7.30 am to know the market direction.
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