Nifty & Bank Nifty Prediction for Tomorrow, 12 Nov 2021
Nifty & Bank Nifty Prediction for Tomorrow, 12 Nov 2021: The domestic equity markets opened in the red on Thursday following the negative cues from Wall Street overnight. The benchmark indices, Sensex and Nifty traded below their crucial levels 60K and 17900 levels respectively most of the session today. Barring Metals and Consumer Durables almost all other sectoral indices traded negatively today, led by Realty, PSU Banks, and Pharma. The broader markets also closed lower following their larger peers. In the end, the market closed in the red zone today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 11 November (Nov Expiry)
The Nifty futures price opened at 17985, making a negative opening of 37.95 points down. It has touched an intraday high at 17985 and a day’s low at 17807.10
The Nifty futures price has given a movement of 177.9 points today. In the end, it fell 110.05 points or 0.61 percent and ended at 17912.90 levels.
The Bank Nifty futures opened at 39044. It made a negative opening of 76.6 points today. It has touched an intraday high at 39044 and a day’s low at 38442.95
During the day, the Bank Nifty in futures has given a movement of 601.05 points. In the end, it closed lower by 439.10 points or 1.12 percent and closed at 38681.50 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 12 Nov 2021 (Nov Expiry)
Nifty Futures prediction for Tomorrow, 12 Nov 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17950 whereas All Down Moves Initiates Short Covering (Buy) @ 17810
If the Nifty futures share price Moves Above 17934 and sustain. Then you should Buy with 1st Target of 17954 during the day with a Stop Loss of 17902 FOR the Target of 17954- 17988- 18018
If the Nifty futures share price Moves Below 17840 and is sustained. Then you should Sell with the 1st Target of 17806 during the day with a Stop Loss of 17888. FOR the Target of 17806- 17778- 17758
Bank Nifty Futures predictions for Tomorrow, 12 Nov 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38900, whereas All Down Moves Initiates Short Covering (Buy) @ 38350
Suppose the Bank Nifty futures Moves Above 38954 and sustain, then you should Buy with the 1st Target of 39050 during the day with a Stop Loss of 38890. FOR the Target of 39050 – 39158 – 39330
If the Bank Nifty futures Moves Below 38590 and sustain, then you should Sell with the 1st Target of 38470 during the day with a Stop Loss of 38715. FOR the Target of 38470 – 38360 – 38175
Global markets today
On the global front, Asian markets closed mostly in the green today. China’s Shanghai gained more than 1 percent as investors have shown interest in battered property shares on the expectation of relaxation in policies to prevent sector-wide collapse. Hang Seng also gained as property shares jump on China’s policy easing news.
European markets are trading in the green despite the downbeat US session on Wednesday. Investors are optimistic about the positive cues from the Chinese markets. The US market future indexes, Dow and Nasdaq futures are trading in the green at this time 5 pm IST
Conclusions
Indian stock markets closed in the red for the third straight session following the weak cues from the global markets. The weak global cues led by rising US inflation boosted the fear of rate cut by the Fed and tighten the monetary policy. Technically, the market is looking weak for the short term but we may also see a pullback rally in a day or two. The Indian government will release CPI inflation and IIP data tomorrow, traders should remain cautious and trade with strict stop loss.
Also read, Best stocks to buy in India for the short term in November 2021
Stock Market Next Week (8 to 12 Nov 2021)- Expert’s View
Two stock to buy for tomorrow, 12 Nov 2021
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