Nifty and Bank Nifty Prediction for Monday, 20 June 2022
Nifty and Bank Nifty Prediction for Monday, 20 June 2022: Indian stock market indexes closed marginally lower on Friday amid weak global cues, on fear of recession. The benchmark indexes, Sensex and Nifty traded below their neutral lines most of the day on account of selling in Oil & Gas, Pharma, Consumer Durables, and IT stocks. The broader markets underperformed on Friday, as compared to benchmark indices.
The market breadth was weak with the advance and decline indicating a ratio of 2:3 at the close. FIIs have accelerated their selling spree, on Friday they sold Rs 7818.65 crores while DIIs bought Rs 6086.96 crores in the equity cash segment.
Nifty and Nifty Bank futures price movement on Friday, June 17 (June Expiry)
On Friday, June 17, the Nifty futures ( June Series) opened at 15305.10 levels, it made a negative opening of 43.45 points. It has touched an intraday high at 15427.65 and a day’s low at 15211.65
The Nifty future has given a movement of 216 points on Friday. In the end, it gained 4.85 points or 0.03 percent and ended at 16353.40 levels.
The Bank Nifty futures (June Series) opened at 32499.85 levels on the last day of the week. It made a negative opening of 133.9 points on Friday. It has touched an intraday high at 32942 and a day’s low at 32335
On Friday, the Bank Nifty future gave a movement of 607 points. In the end, it was up by 252.20 points or 0.77 percent and closed at 32885.95 levels.
Nifty & Bank Nifty Prediction for Monday 20 June 2022 (June Expiry)
Nifty Futures Prediction for Monday 20 June 2022
Primary Nifty Trend in futures: Negative with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16450 whereas All Down Moves Initiates Short Covering (Buy) @ 15200
If the Nifty futures share price Moves Above 15415 and sustain. Then you should Buy with 1st Target of 15448 during the day with a Stop Loss of 15345 FOR the Target of 15448- 15525-15602- 15652
If the Nifty futures share price Moves Below 15285 and is sustained. Then you should Sell with the 1st Target of 15251 during the day with a Stop Loss of 15325. FOR the Target of 15251- 15208- 15171- 15115
Bank Nifty Futures Prediction for Monday 20 June 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) @ 33200, whereas All Down Moves Initiates Short Covering (Buy) @ 32500
Suppose the Bank Nifty futures Moves Above 33155 and sustain, then you should Buy with the 1st Target of 33285 during the day with a Stop Loss of 33000. FOR the Target of 33285 – 33375- 33560- 33810
If the Bank Nifty futures Moves Below 32680 and sustain, then you should Sell with the 1st Target of 32590 during the day with a Stop Loss of 32850. FOR the Target of 32590 – 32500- 32345- 32280
If you want Market Views and Live Trading calls for Nifty, Bank Nifty and Stocks, Cash/F&O Segment, and Global /Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Global stock market updates
The US stock market indexes mostly closed in the green on Friday despite ongoing fears of an economic slowdown. Investors got encouragement after Fed Chair Jerome Powell once again stressed that the central bank needs to do more to curb the hottest inflation in 40 years and to bring back inflation to its 2 percent target while speaking at the conference.
Dow Jones closed lower as the latest data showed production at US factories fell unexpectedly. The US markets will remain closed on Monday due to the holiday.
European markets indexes erased some early gains and finished on a mixed note on Friday. Indexes posted their third straight week of losses as interest rates hiked from major central banks fuelled concern about an economic slowdown.
Conclusions
Indian stock markets closed lower for the sixth consecutive session on Friday. The weak global cues and FII’s selling pressure drag down the markets on Friday. Investors feared that interest rate hikes by the global central banks to control high inflation will slow down the economy. Technically the markets are weak but after last week’s sharp correction we may see a relief rally in the market in the coming week.
Also read, Best Options Trading Books in India-Must Read 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
If you like the post “Nifty and Bank Nifty Prediction for Monday 20 June 2022” please share it with your friends and others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
