Nifty and Bank Nifty Prediction for Monday 30 Jan 2023
Nifty and Bank Nifty Prediction for Monday 30 Jan 2023: The domestic markets fell sharply despite the positive cues from the global markets on Friday. Heavy selling was witnessed in the Adani Group of shares for the second consecutive session after US-based Hindenburg Research LLC said it shorted Adani Group stocks due to “brazen” market manipulation and account fraud.
However, some bargain buying emerged at the lower levels in the last hour. The market breadth has become very much weak with the advance-decline indicating a ratio of 1:4 ratio at the close. Among the sectors Auto, Pharma and FMCG closed higher whereas Oil & Gas, PSU Banking, and Metals sectors fell the most.
The broader markets also fell in line with their larger peers, as Nifty mid and smallcap indexes were closed lower by 1.47 percent and 1.89 percent respectively. At the close, Sensex and Nifty ended with deep cuts by 1.45 percent and 1.61 percent respectively on Friday.
Nifty and Nifty Bank futures price movement on Friday, 27 Jan
On Friday, Jan 27, the Nifty futures (Feb Series) opened at 17988 levels, it made a flat opening of just 2.1 points higher than the previous close. It touched an intraday high at 17995 and a day’s low at 17576.80
The Nifty future has given a movement of 418.2 points on Friday. In the end, it declined 290.95 points or 1.62 percent and ended at 17694.95 levels.
The Bank Nifty futures (Feb Series) opened at 41739.95 levels on the last day of the week. It made a negative opening of 124.5 points on Friday. It has touched an intraday high at 41800.05 and a day’s low at 40421.55
On Friday, the Bank Nifty future gave a movement of 1378.5 points. At the close, it ended lower by 1174.55 points or 2.81 percent and closed at 40689.90 levels.
Nifty & Bank Nifty Prediction for Monday 30 Jan 2023 (Feb Expiry)
Nifty Futures Prediction for Monday 30 Jan 2023
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17800 whereas All Down Moves Initiates Short Covering (Buy) @ 17600
If the Nifty futures share price Moves Above 17740 and sustains. Then you should Buy with 1st Target of 17784 during the day with a Stop Loss of 17705 FOR the Target of 17784- 17828- 17885- 17925
If the Nifty futures share price Moves Below 17650 and is sustained. Then you should Sell with the 1st Target of 17618 during the day with a Stop Loss of 17690. For the Target of 17618- 17575- 17547- 17504
Bank Nifty Futures Prediction for Monday 30 Jan 2023
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41000, whereas All Down Moves Initiates Short Covering (Buy) @ 40250
Suppose the Bank Nifty futures Moves Above 40830 and sustain, then you should Buy with the 1st Target of 41015 during the day with a Stop Loss of 40700. For the Target of 41015- 41185- 41278- 41370
If the Bank Nifty futures Moves Below 40550 and sustain, then you should Sell with the 1st Target of 40380 during the day with a Stop Loss of 40665. For the Target of 40380- 40240- 40148- 40000
If you want Market Views and Live Trading calls for Nifty, Bank Nifty and Stocks, Cash/F&O Segment, and Global /Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Global stock market updates
The U.S. stock market indexes advanced on Friday as the latest data released showed cooling inflation, raising hope for a widely expected Federal Reserve to downshift next week. The personal consumer expenditure (PCE) price index rose slower than the expectation in December.
Consumer discretionary was among the biggest gainers, as Tesla rallied due to better-than-expected quarterly results announced earlier during the week. Chip stocks struggled on Friday as Chipmarker delivered weaker-than-expected quarterly results.
European stock markets ended with a little change on Friday as the sentiment improved due to upbeat US economic data and corporate news. The market sentiment was boosted by news that German auto supplier Bosch agreed to increase its shareholding in Sweden’s Husqvarna.
The softer-than-expected readings for US consumption and inflation released on Friday also lifted the market sentiment in Eurozone.
Conclusions
Indian stock markets fell sharply despite positive global cues on Friday. The domestic investors were nervous due to a sharp fall in Adani Group stocks and ahead of key events Union Budget and Fed interest decision next week. The Indian volatility index “India VIX” jumped more than 18% on Friday, indicating volatility in the markets
Indian markets are expected to remain volatile in the coming week, as a few major events are lined up both domestically as well as on the global front. You can also follow our Daily Morning Report at 7.30 am IST to know the market direction.
Also read, Indian Stock Market: Sensex, Nifty fall over 2% in the week
Global Stock Market Indexes-Weekly Updates
If you like the post “Nifty and Bank Nifty Prediction for Monday 30 Jan 2023” please share it with your friends and others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
