Nifty and Bank Nifty Prediction for Monday 27 June 2022
Nifty and Bank Nifty Prediction for Monday, 27 June 2022: Indian equity markets made a positive opening on Friday and extended their early gains amid positive global cues. The markets gained on account of buying in Media, Auto, Metals, and Banking while the IT sector closed in the red. The broader markets outperformed compared to the benchmarks, as the Nifty mid and smallcap indexes gained 1.42 percent and 1.76 percent respectively.
The market breadth was quite strong with the advance and decline indicating a ratio of 5:1 at the close. In the end, Sensex and Nifty advanced 0.88 percent and 0.92 percent respectively. FIIs have continued their selling spree, on Friday they sold Rs 2353.77 crores while DIIs bought Rs 2213.44 crores in the equity cash segment.
Nifty and Nifty Bank futures price movement on Friday, June 24 ( June Expiry)
On Friday, June 24, the Nifty futures ( June Series) opened at 15650.10 levels, it made a positive opening of 77.15 points. It has touched an intraday high at 15748 and a day’s low at 15611
The Nifty future has given a movement of 137 points on Friday. In the end, it gained 145.95 points or 0.94 percent and ended at 15718.90 levels.
The Bank Nifty futures (June Series) opened at 33433.95 levels on the last day of the week. It made a positive opening of 246.9 points on Friday. It has touched an intraday high at 33738 and a day’s low at 33374.30
On Friday, the Bank Nifty future gave a movement of 363.70 points. In the end, it was up by 512.95 points or 1.55 percent and closed at 33700 levels.
Nifty & Bank Nifty Prediction for Monday 27 June 2022 (June Expiry)
Nifty Futures Prediction for Monday 27 June 2022
Primary Nifty Trend in futures: Positive with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15950 whereas All Down Moves Initiates Short Covering (Buy) @ 15600
If the Nifty futures share price Moves Above 15776 and sustain. Then you should Buy with 1st Target of 15818 during the day with a Stop Loss of 15726 FOR the Target of 15818- 15865-15912- 15980
If the Nifty futures share price Moves Below 15670 and is sustained. Then you should Sell with the 1st Target of 15638 during the day with a Stop Loss of 15715. FOR the Target of 15638- 15591- 15558- 15515
Bank Nifty Futures Prediction for Monday 27 June 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34100, whereas All Down Moves Initiates Short Covering (Buy) @ 33500
Suppose the Bank Nifty futures Moves Above 33860 and sustain, then you should Buy with the 1st Target of 33955 during the day with a Stop Loss of 33715. FOR the Target of 33955 – 34090- 34170- 34285
If the Bank Nifty futures Moves Below 33540 and sustain, then you should Sell with the 1st Target of 33435 during the day with a Stop Loss of 33675. FOR the Target of 33435 – 33330- 33238- 33155
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Global stock market updates
The US stock markets rallied on Friday, as the weak economic data fueled investors’ hopes that Fed may not be hawkish this time. According to the survey data released on Friday by the University of Michigan, the index of consumer sentiment dropped in June to its lowest ever record level. It was a broad-based rally in the markets on Friday, all sectoral indices closed higher on the last day of the week. Investors bet on recently beaten-down stocks in the hopes of a further rally in the markets.
European stock market indexes jumped on Friday and erased all weekly losses and pushing them into a positive zone for the week. Markets gained as investors bet on recently beaten-down stocks taking positive cues from the US markets. It was a broad-based rally led by healthcare, banks, and technology stocks.
Conclusions
Indian stock markets gained for the second consecutive session, driven by positive global cues. In absence of any major domestic events, markets are likely to trade as per the global cues. Last Friday, the US and European markets closed sharply higher, as of now, the SGX Nifty is indicating a gap-up opening on Monday, we may see a strong opening on Monday.
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