Bank Nifty and Nifty 50 Prediction for Monday, 27th February 2023: On Friday, 24th February 2023, The Indian equity markets ended another volatile session with minor losses after another volatile session. It was the sixth consecutive day where the Sensex and Nifty fell, making it the longest losing streak in 2023 for both indices. Due to interest rate hike fears in the US, most Asian markets retreated in the second half of the year due to a downturn in market sentiment. There is also concern among traders, as foreign investors seem to be continuously selling shares in the Indian equity market.
The interest rate hike in the United States is likely to have a ripple effect in Asian markets, with central banks in the region expected to follow suit and raise rates. This, in turn, is expected to increase dollar funding costs and local borrowing costs, which could weigh on market sentiment.
As of the close of the market, the advance-decline ratio suggested a slight deterioration in market breadth with a ratio of 3:4 based on the advance-decline ratio. Stocks in the Oil & Gas, Consumer Durables, and Pharma sectors were among the sectors that rose on Friday, while stocks in the Metals, PSU Banks, and Auto sectors fell.
There was also a decline in the broader markets as well, with the Nifty Mid and Smallcap indices declining by 0.21 percent and 0.17 percent, respectively, almost in lockstep with their larger peers. Sensex and Nifty were down 0.25 percent and 0.26 percent, respectively, at Friday’s close, with the latter down by 0.25 percent.
Nifty & Bank Nifty Options (PE and CE) Prediction for Monday, 27th February 2023 (2nd March Expiry)
- The primary Nifty 50 trend in Options is mildly negative at the moment.
- All up moves in the Nifty 50 Options market initiate profit booking (sale) at 17650; however, all down moves in the Nifty 50 Options market initiate short covering (buy) at 17450.
- If the share price of the Nifty 50 Options moves above 17605 and sustains above this level.
- In this case, you should buy with a first target of 17635 during the day with a stop loss of 17562 and a target of 17635- 17667- 17702- 17742 for the goal of 17635- 17667- 17702- 17742
- The Nifty 50 Options share price will drop below 17500 if it stays below that level for a sustained period of time.
- It would be a wise decision for you to sell at 17470 during the day with a stop loss of 17535 in order to reach the following targets: 17470- 17445- 17409- 17380
Bank Nifty Options Prediction for Monday, 27th February 2023, in Points
- The primary Bank Nifty 50 Options trend is mildly negative at the moment.
- Range-Bound Trend of Bank Nifty Options: All up moves initiate profit booking (sales) at 40500, while all down moves initiate short covering (buys) at 39700.
- Let’s say that the Bank Nifty Options move above 40425 and maintain the move.
- During the day, you should buy with the first target of 40490 with a stop loss of 40280, for the targets of 40490- 40606- 40718- 40800.
- The Bank Nifty Options will move below 40060 if it sustains below it.
- During the day, you should sell with a stop loss of 40220 at the first target of 39990. Targets: 39990, 39770, 39640
Global Stock Market Updates for 4th Week February 2023
There was a sharp decline in the European stock markets on Friday, with investors digesting economic data and corporate earnings as they digested early gains. Based on the latest data that had been released early this morning, the German economy contracted stronger than expected during the fourth quarter of 2022.
A recent survey has found that British consumers have become slightly more optimistic regarding their personal finances and the economic outlook as a result of the latest financial crisis. There was, however, a slight decline in consumer confidence in both the French and German markets in February, which affected market sentiment on Friday.
This is similar to the ripple effect of a rock thrown into a pond; it starts as a small disturbance but has the potential to cause larger waves as it propagates outward. In this case, the initial disruption (a decline in consumer confidence in Europe) led to more giant waves (a decline in market sentiment overall).
Despite hot economic data indicating that the US central bank is about to raise interest rates more aggressively, the US stock market indexes closed lower after a volatile session on Friday. A jump in the core personal consumption expenditures (PCE) price index in January, the most significant rise since August, sent investors into a tailspin.
The increase in personal spending in January was the most considerable increase in two years, which was also a surprise. According to the latest report from the University of Michigan, consumer expectations reached their highest level in over a year in February.
Observations and conclusions
There has been a continuation of the downward trend on the Indian stock markets in the face of sharp volatility due to the uncertainty in the global economic outlook and tensions on the geopolitical front. Moreover ,as a result of the continuous selling pressure from foreign investors, the domestic market sentiment was also dampened.
On Friday, the US markets gave negative signals, and Asian markets will likely follow suit on Monday as well. Also, if you want to know the market’s direction, follow our Daily Morning Report at 7.30 am IST.
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