Nifty and Bank Nifty Prediction for Monday 26 Sept 2022
Nifty and Bank Nifty Prediction for Monday 26 Sept 2022: Indian stock market indexes opened lower on Friday amid weak global cues and extended their losses. The domestic markets closed with deep losses for the third straight session on 23 September. The market sentiments were weak, as several central banks raised their key interest rates aggressively during the week, increasing fears of a global recession among investors. Traders were also cautious ahead of the RBI interest rate decision which is due in the next week.
The market breadth was weak with the advance-decline indicating a ratio of 1:3 at the close. The broader markets underperformed the benchmark indices on Friday. All sectoral indices were closed in the red, and PSU Bank, Media, and Realty indexes dragged the most. FIIs were the net sellers they sold Rs 2899.68 crore while DIIs bought Rs 299.10 crore in the equity cash segment on the last day of the week.
Nifty, Bank Nifty futures price movement on Friday, 23 Sept (Sept Expiry)
On Friday, Sept 23, the Nifty futures (Sept Series) opened at 17587.95 levels, it made a negative opening of 59.65 points. It has touched an intraday high at 17638.30 and a day’s low at 17291.15
The Nifty future has given a movement of 347.15 points on Friday. In the end, it declined 311.60 points or 1.77 percent and ended at 17366 levels.
The Bank Nifty futures (Sept Series) opened at 40520 levels on the last day of the week. It made a negative opening of 177.35 points on Friday. It has touched an intraday high at 40568.20 and a day’s low at 39477.30
On Friday, the Bank Nifty future gave a movement of 1090.9 points. At the close, it was down by 1088.25 points or 2.67 percent and closed at 39609.10 levels.
Nifty & Bank Nifty Prediction for Monday 26 Sept 2022 (Sept Expiry)
Nifty Futures Prediction for Monday 26 Sept 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) @ 17100
If the Nifty futures share price Moves Above 17403 and sustain. Then you should Buy with 1st Target of 17438 during the day with a Stop Loss of 17365 FOR the Target of 17438-17465- 17500- 17545
If the Nifty futures share price Moves Below 17255 and is sustained. Then you should Sell with the 1st Target of 17185 during the day with a Stop Loss of 17300. For the Target of 17185- 17130- 17090- 17056
Bank Nifty Futures Prediction for Monday 26 Sept 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39900, whereas All Down Moves Initiates Short Covering (Buy) @ 39200
Suppose the Bank Nifty futures Moves Above 39930 and sustain, then you should Buy with the 1st Target of 40028 during the day with a Stop Loss of 39665. For the Target of 40028- 40115- 40234- 40430
If the Bank Nifty futures Moves Below 39430 and sustain, then you should Sell with the 1st Target of 39275 during the day with a Stop Loss of 39715. For the Target of 39275 -39185- 39090- 38955
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Global stock market updates
The US stock markets fell sharply on the final day of the week. The sentiments were downbeat as the fears that aggressive central bank tightening would trigger a recession across the globe. Dow Jones fell to the lowest levels in 2022 on Friday due to growth fears. The 2-year U.S. Treasury note spiked past a 15-year high of 4.2% and the 10-year U.S. Treasury held near 3.7%, the highest level since 2010. The WTI crude oil fell sharply below $80 per barrel due to low demand concern
European stock markets tumble on Friday, and several indexes in the region fell to multi-month low, as mounting fears about the global recession triggered the sharp selloff. The tightening of monetary policy by the central banks including the Fed, BoE, and Swiss National Bank, has raised concerns about global economic growth. The energy crisis in Europe and the tax cuts announced by the British government added to the woes.
Conclusions
Indian markets witnessed heavy selling pressure on Friday. Traders are worried about the monetary policy tightening by the central banks and the fresh escalation in the Russia-Ukraine conflict. These have prompted them to exit equities and park funds in safe-haven assets. Indian markets are technically looking bearish. The weak global cues and FIIs selling pressure will impact the local markets next week.
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