Nifty and Bank Nifty Prediction for Monday, 28 March 2022
Nifty and Bank Nifty Prediction for Monday, 28 March 2022: Indian equity markets opened in the green on Friday tracking positive cues from Wall Street overnight. Markets slipped immediately after opening and traded below their natural lines throughout the day. In the end, markets closed lower for the third consecutive day on Friday and the broader markets also declined following their larger peers.
Among the sectors, Realty, PSU Banking sectors closed higher whereas FMCG, IT, Auto and Pharma sectors dragged the markets. The market breadth was slightly on the weaker side, with the advance, decline indicating a ratio of 2:3 at the close.
FIIs were the sellers whereas DIIs were the buyers in the cash segment on the last trading day of the week. FIIs sold Rs 1507.37 crore while DIIs bought Rs 1373.02 crore on Friday, 25 March. You can read Friday’s market updates here and weekly stock market analysis here
Nifty, Nifty Bank futures price movement on Friday, 25 March (March Expiry)
On Friday, 25 March, the Nifty futures ( March Series) opened at 17260 levels, it made a positive opening of 17.2 points. It has touched an intraday high at 17296 and a day’s low at 17096.40
The Nifty future has given a movement of 199.6 points on Friday. In the end, it declined 31.30 points or 0.18 percent and ended at 17211.50 levels.
The Bank Nifty futures (March Series) opened at 35699.95 levels on the last day of the week. It made a positive opening of 58.75 points on Friday. It has touched an intraday high at 35787.95 and a day’s low at 35259
On Friday, the Bank Nifty future gave a movement of 528.95 points. In the end, it declined only 3.4 points or 0.01 percent and closed at 35637.80 levels.
Nifty & Bank Nifty Prediction for Monday, 28 March 2022 (March Expiry)
Nifty Futures Prediction for Monday, 28 March 2022
Primary Nifty Trend in futures: Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17300 whereas All Down Moves Initiates Short Covering (Buy) @ 17000
If the Nifty futures share price Moves Above 17285 and sustain. Then you should Buy with 1st Target of 17334 during the day with a Stop Loss of 17245 FOR the Target of 17334- 17370- 17412-17452
If the Nifty futures share price Moves Below 17140 and is sustained. Then you should Sell with the 1st Target of 17096 during the day with a Stop Loss of 17180. FOR the Target of 17096- 17060- 17000- 16960
Bank Nifty Futures Prediction for Monday, 28 March 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) @ 35800, whereas All Down Moves Initiates Short Covering (Buy) @ 35050
Suppose the Bank Nifty futures Moves Above 35810 and sustain, then you should Buy with the 1st Target of 35940 during the day with a Stop Loss of 35630. FOR the Target of 35940 – 36018- 36110- 36185
If the Bank Nifty futures Moves Below 35400 and sustain, then you should Sell with the 1st Target of 35315 during the day with a Stop Loss of 36530. FOR the Target of 35315 – 35195- 35035- 34915
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Global stock market updates
European markets closed almost flat with a positive bias on Friday as investors cheered a deal between the European Union and the US to increase gas exports to the bloc and reduce dependence on Russian energy. While traders remain cautious as NATO committed extra troops along its eastern side and UK’s retail sales fell unexpectedly in February.
The key indexes of US markets closed mixed on Friday, the S&P 500 ended higher as financial shares rose after the benchmark Treasury yield jumper to its highest levels nearly three years. The tech-heavy Nasdaq fell marginally due to profit booking in the technology shares. The US market sentiments got some boost as Europe will be buying US gas and reducing dependency on Russian energy supply.
Conclusions
Indian equity markets witnessed a range-bound session in the last week. In the coming week, Indian markets will trade as per global cues in absence of any major domestic event. The US and European markets were closed on a mixed note last Friday. The news of additional natural gas supply to the EU by the US may cheer the markets on Monday. Traders can follow our daily “Trade Setup-morning reports” for market directions.
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