Nifty and Bank Nifty Prediction for Monday 22 Aug 2022
Nifty and Bank Nifty Prediction for Monday 22 Aug 2022: Indian equity market indexes closed lower and erased most of their weekly gains on Friday. The market sentiments were downbeat due to weak global cues that triggered profit booking after the longest winning streak. The key indices, Sensex and Nifty closed lower by over 1 percent on Friday. The Nifty mid and small-cap indices mirrored their larger peers.
Among the sectors barring IT, all other sectors closed in the red on Friday led by PSU Banks, Realty, Pvt Banking, and Financial Services. The market breadth turned weak with the Advance-Decline indicating a ratio of 2:3 at the close. FIIs turned buyers after selling in the previous session, they bought Rs 1110.90 crore while DIIs sold Rs 1633.21 crore in the equity cash segment on Friday.
Nifty and Nifty Bank futures price movement on Friday, 19 Aug (Aug Expiry)
On Friday, Aug 19, the Nifty futures (Aug Series) opened at 17980 levels, it made a flat opening. It has touched an intraday high at 17989.95 and a day’s low at 17712.60
The Nifty future has given a movement of 277.35 points on Friday. In the end, it declined 248.75 points or 1.38 percent and ended at 17731.60 levels.
The Bank Nifty futures (Aug Series) opened at 39760 levels on the last day of the week. It made a positive opening of 46.55 points on Friday. It has touched an intraday high at 39794.10 and a day’s low at 38862.45
On Friday, the Bank Nifty future gave a movement of 931.65 points. At the close, it was down by 783.45 points or 1.97 percent and closed at 38930 levels.
Nifty & Bank Nifty Prediction for Monday 22 Aug 2022 (Aug Expiry)
Nifty Futures Prediction for Monday 22 Aug 2022
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17850 whereas All Down Moves Initiates Short Covering (Buy) @ 17600
If the Nifty futures share price Moves Above 17775 and sustain. Then you should Buy with 1st Target of 17812 during the day with a Stop Loss of 17735 FOR the Target of 17812-17854- 17880- 17906
If the Nifty futures share price Moves Below 17700 and is sustained. Then you should Sell with the 1st Target of 17665 during the day with a Stop Loss of 17722. For the Target of 17665- 17630- 17590- 17550
Bank Nifty Futures Prediction for Monday 22 Aug 2022
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39100, whereas All Down Moves Initiates Short Covering (Buy) @ 38400
Suppose the Bank Nifty futures Moves Above 39115 and sustain, then you should Buy with the 1st Target of 39240 during the day with a Stop Loss of 38970. For the Target of 39240 – 39310- 39425-39540
If the Bank Nifty futures Moves Below 38715 and sustain, then you should Sell with the 1st Target of 38570 during the day with a Stop Loss of 38920. For the Target of 38570 -38435- 38325-38220
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Global stock market updates
The US stock market indexes closed lower on Friday in a broad-based selloff led by large caps as US Treasury yields rose. The hawkish comments from the Fed official just a day after the FOMC minutes were released, dampened the market sentiments. Investors’ concerns about the Fed’s aggressive interest rate hikes have now been renewed after the Fed’s official comments.
European stock markets extended their losses on Friday as the record rise in German producer prices in July added to a gloomy picture of the economic outlook in the region. The market sentiments were already hit by the UK’s high inflation data and now the German PPI added fuel to it. Investors are now concerned about the ECB’s aggressive rate hike in September and fear recession.
Conclusions
Globally the market sentiments have become negative in the last two days of the week. The fears of aggressive interest rate hikes by the central banks in the US and Europe and a slowdown in economic growth hit the market sentiments in the last two days. The US and European markets fell sharply on Friday and Asian markets may follow the negative global cues on Monday.
We had timely cautious our readers on Wednesday evening report about the correction you can check out here. To know the market events for next week you can read our key factors that are likely to impact the market in next week’s report today late evening.
Also read, Best Options Trading Books in India-Must Read 2021
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Stock Market Indices and Weekly Updates (16- 19 Aug 2022)
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