Nifty & Bank Nifty Prediction for Tomorrow, 22 June 2021
Nifty and Bank Nifty prediction for tomorrow 22 June 2021: Indian stock markets opened gap-down on Monday amid negative cues from the other Asian markets peers. The key benchmark indices recovered their early losses in the afternoon session and traded positively in the second half. In the end, market indices closed higher on the back of buying in Banking, Real Estate, and Metal Sectors.
Other than the weak global cues, traders remained cautious as the private report has projected real GDP growth of 8.7 percent in FY22 down from the 11.1 percent it had forecasted earlier. However, it revised up the FY23 forecast from 4 percent to 5.4 percent. Adding more worries among market participants, another private report stated that hiring across sectors in the country has declined in May. Though the tech industry job market rebounded from the pandemic-induced downturn, several IT companies are in full expansion mode.
Today’s Market Updates: Sensex, Nifty, and Bank Nifty spot price
At the close, Nifty gained 63.15 points or 0.41 percent and closed at 15746.50 levels while Sensex was up by 230.01 points or 0.44 percent and finished at 52574.46 levels. The Bank Nifty spot price jumped 313.30 points or 0.91 percent and ends at 34871.30 levels.
The broader markets also closed higher today along with their larger peers. The Nifty midcap index gained 208.90 points or 0.79 percent and closed at 26705.20 levels. The Nifty smallcap index was up by 62.30 points or 0.65 percent and closed at 9636.05 levels.
The top five gainers in the Nifty 50 index were Adani Ports, NTPC, Titan Company, SBI< HDFC Life. The top five losers in the Nifty 50 index were UPL, Wipro, Hindalco, Tata Motors, and Maruti Suzuki. The most active stocks in the Nifty 50 index were Adani Ports, Tata Steel, and SBI.
On a sectoral basis, Banking, Metals, Infrastructures, Real Estate, and Financial sectors closed higher. The sectors that closed in the red were IT & Software and Automobiles.
Nifty and Nifty Bank futures price movement for 21 June, ( June Expiry)
The Nifty futures price opened at 15548 made a negative opening of 148.7 points. It has touched an intraday high at 15760.20 and a day’s low at 15509.50
The Nifty futures price has given a movement of 250.7 points today. In the end, it gained 52.8 points or 0.33 percent and ended at 15748.85 levels.
The Bank Nifty futures opened at 34388 It made a negative opening of 208.75 points today. It has touched an intraday high at 34949 and a day’s low at 33955.1
During the day, the Bank Nifty in futures has given a movement of 993.9 points. In the end, it closed higher by 347.65 points or 1 percent and closed at 34944.40 levels.
Nifty & Bank Nifty prediction for tomorrow 22 June, (June Expiry )
Nifty futures prediction for tomorrow, 22 June
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15810 whereas All Down Moves Initiates Short Covering (Buy) @ 15670
If the Nifty futures share price Moves Above 15758 and sustain. Then you should Buy with 1st Target of 15784 during the day with a Stop Loss of 15670 FOR the Target of 15784-15806- 15836
If the Nifty futures share price Moves Below 15670 and sustained. Then you should Sell with the 1st Target of 15629 during the day with a Stop Loss of 15758. FOR the Target of 15629- 15585 -15548
Bank Nifty Prediction for Tomorrow, 22 June
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35300, whereas All Down Moves Initiates Short Covering (Buy) @ 34750
Suppose the Bank Nifty futures Moves Above 35060 and sustain, then you should Buy with the 1st Target of 35285 during the day with a Stop Loss of 34615. FOR the Target of 35285 – 35440 – 35700
If the Bank Nifty futures Moves Below 34615 and sustained, then you should Sell with the 1st Target of 34445 during the day with a Stop Loss of 35060. FOR the Target of 34445 – 34280 – 34090
Global markets today
On the global front, Asian markets mostly closed in the red. China’s Shanghai index closed higher after its Central Bank kept the benchmark lending rates unchanged as widely expected. European market indexes are trading volatile today, at this moment indexes are trading higher. The U.S futures index, Dow, and Nasdaq futures are trading higher at 4.30 pm IST.
Conclusions
Indian stock markets made a gap-down opening amid negative cues from the global market peers. The market witnessed a sharp recovery in the afternoon session due to the buying in banking sectors. Nifty took support around 15500-1550 levels. Going ahead, the market is looking positive, Nifty may touch a new high soon. Investors should buy good-quality stocks on dips.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for tomorrow June 22
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