Nifty prediction for tomorrow 22 Jan 2021
Today’s market updates, Nifty & Bank Nifty futures prediction for tomorrow 22 Jan 2021
Nifty & Bank Nifty prediction tomorrow 22 Jan 2021: Indian stock market made an optimistic start on Thursday tracking positive global markets. Sensex hits 50K for the first time in the opening session only. Markets traded above their neutral line most of the day on the back of buying in all major sectors except Metal and Realty. In the last hour, markets erased their early gains and closed in the red
Traders took note of the Fitch rating statement that India’s medium-term growth potential is at around 6.5% but the weak implementation of reforms, combined with continued financial sector problems, could lower its potential. It said the revival of the reform agenda is among the Indian government’s policy response to the Covid pandemic shock.
Meanwhile, MSME stocks were in the limelight today as Finance Minister stated that the banks have sanctioned an additional Rs 15,571 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) to MSMEs that were impacted by the coronavirus pandemic.
On a global front, Asian markets mostly closed in the green today tracking overnight Wall Street. Investors are optimistic that the new Biden administration’s potential spending increases will spur in the world’s largest economy. European markets are trading almost flat today while US futures Nasdaq and Dow futures are trading marginally higher at 4 pm IST.
Today’s Market: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty declined 54.35 points or 0.37% at 14590.35 level while Sensex fell 167.36 points or 0.33% and closed at 49624.76 levels. The Bank Nifty on the spot price slipped 356.80 points or 1.09% and ended at 32186.90 levels.
Nifty midcap and smallcap indices closed in the red today. The Nifty midcap index fell 270 points or 1.22% and closed at 21927.40 levels. The smallcap index slipped 47.95 points or 0.64% and closed at 7391.25 level.
The top gainers in the Nifty50 index for the day were Tata Motors, Bajaj Finance, Reliance, Bajaj Auto, and Eicher motors. The top losers in the Nifty 50 index for the day were ONGC, Tata Steel, GAIL, Coal India, and SBI. The most active stocks for the day in the Nifty50 index were Tata Motors, Reliance, and Bajaj Finance.
On a sectoral front, Consumer Durables, Electricals, Oil & Gas, Capital Goods, and Automobile sectors closed higher today. On the losing side, Metals, Banking, Healthcare, Infrastructure, IT & Software, and Real Estate sectors closed in the red.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 14711.05, it made a positive opening of 65.9 points. It has touched an intraday high at 14765.45 and a day’s low at 14508.30
The Nifty futures share price has given a movement of 257.15 points. In the end, it fell 5.35 points or 0.04% and closed at 14639.80 levels.
The Bank Nifty futures share price opened at 32749 It made a positive opening of 164.3 points today. It has touched an intraday high at 32899 and a day’s low at 32001.50
During the day, the Bank Nifty futures share price has given a movement of 897.5 points. In the end, it declined 264.7 points or 0.81% and closed at 32320 levels.
Nifty and Bank Nifty prediction for tomorrow 22 Jan ( Jan Expiry)
Nifty prediction in futures for 22 Jan 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14700 whereas All Down Moves Initiates Short Covering (Buy) @ 14540
If the Nifty futures share price Moves Above 14665 and sustain. Then you should Buy with 1st Target of 14702 during the day with a Stop Loss of 14575 FOR the Target of 14702-14730- 14756
If the Nifty futures share price Moves Below 14575 and sustain. Then you should Sell with the 1st Target of 14538 during the day with a Stop Loss of 14665. FOR the Target of 14538- 14510 -14460
Bank Nifty futures prediction, 22 Jan 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32650, whereas All Down Moves Initiates Short Covering (Buy) @ 32100
Suppose Bank Nifty futures share price Moves Above 32430 and sustain. Then you should Buy with the 1st Target of 32495 during the day with a Stop Loss of 32170. FOR the Target of 32495 – 32660- 32820
If the Bank Nifty futures share price Moves Below 32170 and sustained. Then you should Sell with the 1st Target of 32030 during the day with a Stop Loss of 32430. FOR the Target of 32030 – 31925- 31840
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Conclusions:
Indian markets closed marginally lower today due to profit booking. Sensex has touched 50K for the first time. The Q3 earnings, global sentiments, and FIIs inflow have supported the market so far. Markets are looking strong, investors should accumulate good quality stocks in every dip.
Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 22 Jan 2021.
Also read, Two Nifty 50 Stock Recommendations for next week
Intraday Trading books to make money from Stock Markets
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