The Indian equity markets witnessed a day of volatility and mixed cues from Asian markets, resulting in a marginal dip in the indices. The markets opened with early losses due to selling pressure in Energy, FMCG, and Financial Services stocks, but some buying activity was observed in Pharma, Realty, and PSU Banking space.
Here are the key takeaways from Tuesday's trading session:
Despite better-than-expected China economic data, investor sentiments failed to pick up.
The Nifty mid and smallcap index outperformed the frontline index, closing higher by 0.76 percent and 0.29 percent respectively.
Market breadth was slightly positive, indicating that the broader markets performed better than the main index.
Nifty and Sensex closed marginally lower for the second straight session, ending down by 0.31 percent and 0.26 percent respectively.
As we look ahead to tomorrow, April 19th, all eyes will be on the Nifty and Bank Nifty predictions. Investors are hopeful for a bounce back in the markets, but uncertainties persist. Stay tuned for the latest updates on the Indian equity markets.
Nifty Futures Predictions for April 19th, 2023
Looking at the Nifty Futures predictions for April 19th, the primary trend is expected to be sideways negative. The range-bound trend indicates that all up moves may lead to profit booking at 17800, while all down moves may initiate short covering at 17600.
If the Nifty futures (April Series) share price moves above 17752 and sustains, investors may consider buying with the 1st target of 17780 during the day, with a stop loss of 17730 for a target of 17780-17805-17835-17860.
On the other hand, if the Nifty futures (April Series) share price moves below 17662 and sustains, it may be advisable to sell with the 1st target of 17638 for the day, with a stop loss of 17692 for a target of 17638-17605-17575-17535.
As always, it's important to keep an eye on market trends and stay up-to-date with the latest news to make informed investment decisions.
In conclusion,
the Indian equity markets witnessed a day of volatility and mixed cues from Asian markets, resulting in a marginal dip in the indices. While the Nifty mid and smallcap index outperformed the frontline index, market breadth was slightly positive, indicating that the broader markets performed better than the main index.
Looking ahead to April 19th, Nifty Futures predictions suggest a sideways negative primary trend with potential profit booking at 17800 and short covering at 17600.
It's important to note that investing in the stock market involves risks, and these predictions should be taken as one source of information among many others to make informed investment decisions. It's advisable to do your own research, consult with a financial advisor, and keep up-to-date with the latest news and trends in the market. The accuracy of these predictions is not guaranteed, and we cannot be held responsible for any investment decisions made based on this information.
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