Nifty and Bank Nifty Prediction for Monday, 9 May 2022
Nifty and Bank Nifty Prediction for Monday 9 May 2022: Indian equity markets further collapsed on Friday due to negative global cues. The domestic markets opened a gap down and closed in the deep red on the back of selling across all sectors led by Realty, IT, and Financial Services. The broader markets underperformed as compared to the benchmark indices.
The market breadth was once again weak as the advance decline indicated a ratio of 1:3 at the close. FIIs were the sellers and DIIs were the buyers in the equity cash segment of Friday. FIIs sold Rs 5517.08 crore while DIIs bought Rs 3014.85 crore in the equity segment.
You can read the detailed Friday’s market updates here and the weekly market recap here.
Nifty and Nifty Bank futures price movement on Friday, 6 May ( May Expiry)
On Friday, May 6, the Nifty futures ( May Series) opened at 16451.25 levels, it made a negative opening of 243.05 points. It has touched an intraday high at 16494.80 and a day’s low at 16346.75
The Nifty future has given a movement of 148.05 points on Friday. In the end, it declined 251.55 points or 1.51 percent and ended at 16442.75 levels.
The Bank Nifty futures (May Series) opened at 34650 levels on the last day of the week. It made a negative opening of 601.5 points on Friday. It has touched an intraday high at 34833.75 and a day’s low at 34383
On Friday, the Bank Nifty future gave a movement of 450.75 points. In the end, it was down by 563 points or 1.60 percent and closed at 34688.50 levels.
Nifty & Bank Nifty Prediction for Monday 9 May 2022 (May Expiry)
Nifty Futures Prediction for Monday, 9 May 2022
Primary Nifty Trend in futures: Negative with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16480 whereas All Down Moves Initiates Short Covering (Buy) @ 16220
If the Nifty futures share price Moves Above 16515 and sustain. Then you should Buy with 1st Target of 16550 during the day with a Stop Loss of 16490 FOR the Target of 16550- 16595-16632- 16685
If the Nifty futures share price Moves Below 16385 and is sustained. Then you should Sell with the 1st Target of 16340 during the day with a Stop Loss of 16445. FOR the Target of 16340- 16285- 16215- 16160.
Bank Nifty Futures Prediction for Monday, 9 May 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) @ 35850, whereas All Down Moves Initiates Short Covering (Buy) @ 34200
Suppose the Bank Nifty futures Moves Above 34850 and sustain, then you should Buy with the 1st Target of 35018 during the day with a Stop Loss of 34725. FOR the Target of 35018 – 35165- 35290- 35412
If the Bank Nifty futures Moves Below 34400 and sustain, then you should Sell with the 1st Target of 34255 during the day with a Stop Loss of 34665. FOR the Target of 34255 – 34170- 34000- 33850
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Global stock market updates
Volatility continued in the US financial markets on Friday, as investors were focused on Treasury yields and monthly farm payroll data. The US market indexes closed in the red on Friday despite the job report announced was slightly better than the market expectations. As per the job report, the US economy added 428000 jobs in April and the unemployment rate remained at 3.6 percent. The 10-year Treasury yield closed the week around 3.124 percent, up from 3.066 percent.
European markets tumbled on Friday due to the fear of rising inflation and a bigger interest rate. The market sentiments were subdued even after the release of better than expected April job reports in the US. Investors continue to fear the possibility of a recession in the US and other countries due to monetary tightening
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Conclusions
Indian markets traded negatively throughout the day on Friday due to weak global cues, the selling pressure intensified due to rising crude oil prices and fear among the investor’s high inflationary pressure and interest rate hike could slow down the economic growth. Going ahead, on Monday market will first react to Reliance’s Q4 results and then the focus will shift to the global cues.
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Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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