Nifty and Bank Nifty Prediction for Monday 21 Feb 2022
Nifty and Bank Nifty Prediction for Monday, 21 Feb 2022: Indian equity markets opened lower on Friday amid weak global cues. The key benchmark indices were traded volatile in the short-range and closed marginally lower for the third consecutive day in a row. The broader markets underperformed as Nifty midcap and smallcap indexes closed almost 1 percent lower on Friday. On a sectoral front, barring banking and financial index all other sectoral indices closed in the red on Friday led by Realty and Oil & Gas.
The market breadth was weak with the advance and decline indicating a ratio of almost 1:3 at the close. FIIs were the sellers and DIIs were the buyers in the cash market segment on the last day of the week. FIIs sold Rs 2529.96 crore while DIIs bought Rs 1929.08 crore on Friday. You can read Friday’s market updates here
Nifty & Nifty Bank futures price movement on Friday, 18 February (Feb Expiry)
On Friday, 18 February, the Nifty futures (Feb Series) opened at 17248 levels, it made a negative opening of 42.2 points. It has touched an intraday high at 17388 and a day’s low at 17218.70
The Nifty future has given a movement of 169.3 points on Friday. In the end, it declined by 9.2 points or 0.05 percent and ended at 17281 levels.
The Bank Nifty futures (Feb Series) opened at 37350 levels on the last day of the week. It made a negative opening of 152.85 points on Friday. It has touched an intraday high at 37835 and a day’s low at 37203.55
On Friday, the Bank Nifty future gave a movement of 631.45 points. In the end, it gained by 101.95 points or 0.27 percent and closed at 37604.80 levels.
Nifty & Bank Nifty Prediction for Monday, 21 Feb 2022 (Feb Expiry )
Nifty Futures Prediction for Monday, 21 Feb 2022
Primary Nifty Trend in futures: Range-Bound bias negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17400 whereas All Down Moves Initiates Short Covering (Buy) @ 17200
If the Nifty futures share price Moves Above 17318 and sustain. Then you should Buy with 1st Target of 17349 during the day with a Stop Loss of 17300 FOR the Target of 17349- 17384- 17432- 17480
If the Nifty futures share price Moves Below 17270 and is sustained. Then you should Sell with the 1st Target of 17254 during the day with a Stop Loss of 17288. FOR the Target of 17254- 17219- 17200- 17160
Bank Nifty Futures Prediction for Monday, 21 Feb 2022
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37900, whereas All Down Moves Initiates Short Covering (Buy) @ 37250
Suppose the Bank Nifty futures Moves Above 37700 and sustain, then you should Buy with the 1st Target of 37815 during the day with a Stop Loss of 37615. FOR the Target of 37815 – 37940 – 38070- 38190
If the Bank Nifty futures Moves Below 37485 and sustain, then you should Sell with the 1st Target of 37390 during the day with a Stop Loss of 37550. FOR the Target of 37390 – 37240 – 37165- 37080
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Global stock market updates
European markets erased early gains on Friday on reports that separatist leaders in Eastern Ukraine were evacuating their citizens in the region into Russia for their own safety. Russia-exposed European stocks have been under pressure for quite some time due to the geopolitical tensions and triggered volatility across the European stock market.
The US markets slipped on the last day of the week as the threat of an invasion of Ukraine and the uncertainty of monetary policy tightening weighed on market sentiments. Investors preferred to book profit ahead of long weekends in a war-like situation in Ukraine. The US markets will remain closed on Monday on account of President Day.
Conclusions
Indian stock markets opened lower taking negative cues from Wall Street overnight on Friday. The market turned green in the morning session after the US Secretary of State agreed to meet the Russian foreign minister in order to ease the tension, though a sell-off was witnessed in late hours again. The key indices traded volatile in a narrow range and struggled for a firm direction on Friday. Going ahead, Indian markets will trade as per the global cues on Monday.
Tomorrow, you can read “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, Weekly Share Market Updates: Top Gainers and Losers
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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