Nifty and Bank Nifty Prediction for Tomorrow, 20 Oct 2021: Indian equity benchmark indices opened at a new record high on Tuesday amid positive cues from other Asian market peers. Markets extended their yesterday’s gain in the first half as Sensex and Nifty were trading above 62K and 18550 levels. In the second half, a profit booking was seen in the Realty, Metals, and PSU Banking sectors, it erased all intraday gains and closed marginally lower. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 19 October (Oct Expiry)
The Nifty futures price opened at 18578.90, making a positive opening of 83.5 points. It has touched an intraday high at 18594 and a day’s low at 18395.10
The Nifty futures price has given a movement of 198.9 points today. In the end, it fell 58.35 points or 0.32 percent and ended at 18437.05 levels.
The Bank Nifty futures opened at 39959.95. It made a positive opening of 177.5 points today. It has touched an intraday high at 40040.45 and a day’s low at 39409
During the day, the Bank Nifty in futures has given a movement of 631.45 points. In the end, it closed lower by 143.20 points or 0.36 percent and closed at 39639.25 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 20 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 20 Oct 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18500 whereas All Down Moves Initiates Short Covering (Buy) @ 18350
If the Nifty futures share price Moves Above 18456 and sustain. Then you should Buy with 1st Target of 18484 during the day with a Stop Loss of 18427 FOR the Target of 18484-18504- 18532
If the Nifty futures share price Moves Below 18390 and is sustained. Then you should Sell with the 1st Target of 18362 during the day with a Stop Loss of 18418. FOR the Target of 18362- 18324- 18265
Bank Nifty Futures Predictions for Tomorrow, 20 Oct 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39750, whereas All Down Moves Initiates Short Covering (Buy) @ 39200
Suppose the Bank Nifty futures Moves Above 39720 and sustain, then you should Buy with the 1st Target of 39880 during the day with a Stop Loss of 39620. FOR the Target of 39880 – 39974 – 40060
If the Bank Nifty futures Moves Below 39510 and sustain, then you should Sell with the 1st Target of 39422 during the day with a Stop Loss of 39595. FOR the Target of 39422 – 39218 – 38950
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Global markets today
On the global front, the Asian markets mostly closed higher on Tuesday tracking the positive cues from Wall Street overnight. Hang Seng gained more than a percent due to a rally in tech shares. European markets recovered their early losses and are trading higher at this moment (4.30 pm) following the positive cues from Asian peers. The US futures, Dow, and Nasdaq futures are trading higher, which indicates a positive opening for the US markets today.
Conclusions
Indian stock market indices took a pause after gaining seven consecutive days in a row. Markets were trading volatile in the second half. The profit booking was witnessed mainly in the Realty, PSU Banking, and Metal stocks. Going ahead, Indian markets may see a mild correction if the Nifty breaks 18400- 18350 levels or may take support from these levels.
Also read, Best Options Trading Books in India-Must Read 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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