Nifty & Bank Nifty Prediction for Tomorrow, 13 October
Nifty and Bank Nifty Prediction for Tomorrow, 13 October 2021: Indian stock market indices opened lower on Tuesday amid negative cues from the global markets. Markets continued to trade lackluster till the afternoon session, as Sensex and Nifty were hovering near their neutral lines.
Investors were cautious ahead of CPI inflation and IIP data that are expected at 5.30 pm today. In the last half an hour, some strong buying was witnessed in Nifty PSU Banking and FMCG, and Consumer Durable sectors and markets closed near day’s high. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 12 October (Oct Expiry)
The Nifty futures price opened at 17919, made a flat to the negative opening of 54.05 points. It has touched an intraday high at 18015 and a day’s low at 17862.60
The Nifty futures price has given a movement of 152.4 points today. In the end, it gained 35.45 points or 0.20 percent and ended at 18008.5 levels.
The Bank Nifty futures opened at 38259. It made a negative opening of 114.45 points today. It has touched an intraday high at 38668 and a day’s low at 38180
During the day, the Bank Nifty in futures has given a movement of 488 points. In the end, it closed higher by 215.5 points or 0.56 percent and closed at 38588.95 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 13 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 13 Oct 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18050 whereas All Down Moves Initiates Short Covering (Buy) @ 17960
If the Nifty futures share price Moves Above 18018 and sustain. Then you should Buy with 1st Target of 18048 during the day with a Stop Loss of 18006 FOR the Target of 18048-18072- 18094
If the Nifty futures share price Moves Below 17970 and is sustained. Then you should Sell with the 1st Target of 17954 during the day with a Stop Loss of 17995. FOR the Target of 17954- 17925- 17902
Bank Nifty Futures Prediction for Tomorrow, 13 Oct 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38900, whereas All Down Moves Initiates Short Covering (Buy) @ 38400
Suppose the Bank Nifty futures Moves Above 38670 and sustain, then you should Buy with the 1st Target of 38760 during the day with a Stop Loss of 38595. FOR the Target of 38760 – 38880 – 39020
If the Bank Nifty futures Moves Below 38440 and sustain, then you should Sell with the 1st Target of 38233 during the day with a Stop Loss of 37558. FOR the Target of 38233 – 38135 – 38070
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Global markets today
On the global front, the Asian markets closed mostly in the red today as the global energy crunch fuelled inflation fears in the region. Hang Seng was dragged by technology shares after reports of Chinese President Xi Jinping scrutinizing ties between lends and big private firms.
European market indexes are trading lower after following negative cues from the US markets on inflation concerns and news of China Evergrande missing a third bond payment hit market sentiments. US future indexes, Dow and Nasdaq futures are trading flat at this moment.
Conclusions
Indian stock markets extended their yesterday’s gain and closed near day’s high. The market’s gains on the back of buying in PSU Banks, Media, and FMCG sectors. The market upside remains capped as investors were cautious ahead of CPI and Industrial production output data, which are expected later today.
Also read, 5 Best Shares to buy now in October 2021
Indian stock market outlook for next week (11 to 14 Oct )
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Editor’s Desk
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