Nifty and Bank Nifty Prediction for Monday, 20 Dec 2021
Nifty and Bank Nifty prediction for Monday, 20 Dec 2021: Indian markets ended lower on Friday amid weak global cues. The heavy sell-off was witnessed across the board on fear of surging Omicron cases in the country. The sectors like realty, auto, banking, and financial counters dragged the markets on the last day of the week.
Indian markets have been under pressure in the few months as FIIs are selling in the market. The continuous selling pressure by the FIIs, Central Bank’s monetary policy tightening, and rising inflations are some of the factors concerning investors at this moment.
You may like to read Nifty ends below 17K – Reason for market fall today
Nifty and Nifty Bank futures price movement on Friday 17 Dec (Dec Expiry)
On Friday, 17 December, Nifty futures opened at 17310.05 levels, down by 7.45 points. It has touched an intraday high at 17310.05 and a day’s low at 17000.
The Nifty future has given a movement of 310.05 points on Friday. In the end, it declined 293 points or 1.69 percent and ended at 17024.50 levels.
The Bank Nifty futures opened at 36639.75 levels on the last day of the week. It made a negative opening of 71.75 points on Friday. It has touched an intraday high at 36680.15 and a day’s low at 35642.55
On Friday, the Bank Nifty future gave a movement of 1037.45 points. In the end, it declined only by 911.45 points or 2.48 percent and closed at 35800.05 levels
Nifty & Bank Nifty Prediction for Monday, 20 Dec 2021 (Dec Expiry)
Nifty Futures Prediction for Monday, 20 Dec 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17040 whereas All Down Moves Initiates Short Covering (Buy) @ 16900
If the Nifty futures share price Moves Above 17080 and sustain. Then you should Buy with 1st Target of 17125 during the day with a Stop Loss of 17045 FOR the Target of 17125-17162- 17195
If the Nifty futures share price Moves Below 17000 and sustain. Then you should Sell with the 1st Target of 16966 during the day with a Stop Loss of 17030. FOR the Target of 16966- 16949- 16910
Bank Nifty Futures Prediction for Monday, 20 Dec 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36000, whereas All Down Moves Initiates Short Covering (Buy) @ 35450
Suppose the Bank Nifty futures Moves Above 35960 and sustain, then you should Buy with the 1st Target of 36040 during the day with a Stop Loss of 35875. FOR the Target of 36040 – 36137 – 36265
If the Bank Nifty futures Moves Below 35740 and sustain, then you should Sell with the 1st Target of 35658 during the day with a Stop Loss of 35830. FOR the Target of 35658 – 35465 – 35340
Global market indexes
On the global front, European markets were closed mixed on Friday as investors digested policy decisions by major central banks and the rapidly spreading Omicron coronavirus variant. FTSE managed to close in the green on Friday as sentiments got improved after the positive UK retail sales data.
The US markets closed lower on Friday amid interest rate worries. S&P 500 posts largest weekly losses in three weeks, oil, bond yields also fell on the last day of the week ended 17 December as investors are worried about the rising interest rate and surging covid cases and its impact on the economic growth.
Conclusions
Indian stock markets closed lower and snap 2-week gaining momentum last Friday. Continuous selling by FIIs, negative cues from global markets, higher inflations, and surges in the Omicron virus were the reasons for Indian markets declining 3 percent during the week. In the coming week, the global market sentiments will dominant the Indian market.
Tomorrow, you can follow “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, Stock Market Margin Calculator- The Best Review
Weekly Stock Market Indexes & Analysis-13 -17 Dec 2021
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