Nifty and Bank Nifty Prediction for Today 11 May 2023

Nifty and Bank Nifty Prediction for Today 11 May 2023: The Nifty (18,315.10) and Bank Nifty (43,331.05) closed higher after a volatile session yesterday. The trend of the Nifty and Bank Nifty is up with a positive bias for today. But due to the weekly F&O expiration, the market will be extremely volatile. Also, the Karnataka exit polls (2023) can add additional volatility to the market today.

Though the market outlook is positive for today, intraday volatility can also be visible. Traders should closely monitor the volatility index (VIX) and the price actions of the indexes during the day.

Nifty 50 Prediction for Today(May 11, 2023)

Nifty Bank Prediction for Today(May 11, 2023)

Conclusion

Global markets, led by U.S. stocks, closed mixed, digesting the softer inflation data. In the U.S. stock market, the rally in technology stocks prevented an ugly day in the Dow Jones and the S&P 500. The softer U.S. consumer inflation data released yesterday boosted sentiment globally, especially in the Nasdaq index, which rallied 1.04%.

So, today, the Indian equity market will probably try to digest the rally in U.S. tech stocks. Traders can focus on buying the dips and selling on the rise today amid ongoing volatility due to the weekly F&O expiry.

Please note that all levels of Nifty and Bank Nifty discussed above, are spot prices.

Chart Credit: Chartink

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