Nifty, Bank Nifty futures prediction for (1st-4th Dec) week
RBI Policy, Auto sales, COVID-19 related news will influence Nifty and Bank Nifty futures this week
Nifty & Bank Nifty futures prediction for (1st-4th Dec) week: for Indian markets ended on positive notes last week. Monday the Indian stock market is a holiday, will observe Gurunanak Jayanti. Tuesday, the market will first react to the GDP number announced post-market Friday. The 7.5% contraction in GDP means India is in the recession phase but sequentially the GDP numbers came better than expected.
On Tuesday, Indian stock markets will remain volatile as PMI and Auto Sales numbers are expected. The key factors that may influence the Indian stock markets during the week are as follows.
Coronavirus risk and vaccine updates
Coronavirus cases continue to increase in the US, Europe, Japan, Australia, and several other parts of the world. The infection cases in India are more or less stagnant. The daily new coronavirus cases in India have decreased in the last two days. As of Sunday, 29 November, the total coronavirus cases in India crossed 93L, with 41,810 news cases for the day.
Investors are worried about the second wave of coronavirus cases and fresh restrictions and lockdown in western countries. Globally, coronavirus infection has crossed more than 6.25 cr with 14.57 lakhs death.
Last two weeks the stock market sentiments remained positive due to successful trial results of three vaccines ( Pfizer, Moderna, and Astra Zeneca). On 28 November PM Modi has visited the vaccine facilities of Zydus Cadial in Ahmedabab, Bharat Biotech in Hyderabad, and Serum Institute in Pune to review the progress of vaccine development. PM Modi will interact with three more news teams on Monday.
Auto Sales
Automobiles stocks will be a focus on Tuesday due to auto sales numbers for November. Due to strong Kharif corp sowing sales of tractors could have increased in November. Passenger vehicles and two-wheelers may expect positive sales due to festive demand whereas commercial vehicle sales may see muted sales in the month of November.
RBI Monetary policy & other macroeconomic data
The RBI monetary policy meeting outcome is expected on 4th December. The market experts feel that RBI will maintain the status quo this time as inflation rates are on the higher side. The market commentary will be important to watch out for this time.
Other macroeconomic data that are going announce during the week are
| Macro Data Next Week | |
| 1st Dec | Markit Manufacturing PMI |
| 3rd Dec | Markit Service PMI |
| 4th Dec | RBI Monetary Policy |
| Foreign Exchange Reserve | |
Technical levels: Nifty, Bank Nifty futures prediction for the week (1st-4th Dec)
Nifty futures prediction for the week
Primary Trend of Nifty futures for the week: Positive
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 13150 whereas All Down Moves Initiates Short Covering (Buy) @ 12830
If Nifty share price in futures Moves Above 13023 and sustain. Then you should Buy with 1st Target of 13045 during the day or week with a Stop Loss of 12972 FOR the Target of 13045- 13109- 13147- 13211
Suppose Nifty share price in futures Moves Below 12972 and sustain. Then you should Sell with the 1st Target of 12944 during the day or week with a Stop Loss of 13023. FOR the Target of 12944- 12916- 12890 -12827
Bank Nifty futures prediction for the week
Primary Trend of Bank Nifty future for the week: Positive
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 30200, whereas All Down Moves Initiates Short Covering (Buy) @ 29200
If Bank Nifty share price in the futures Moves Above 29760 and sustain. Then you should Buy with the 1st Target of 29818 during the day with a Stop Loss of 29480. FOR the Target of 29818 – 29910- 30018- 30190
If Bank Nifty shares price in the future Moves Below 29480 and sustained. Then you should Sell with the 1st Target of 29415 during the day with a Stop Loss of 29760. FOR the Target of 29415- 29310- 29190 – 29000
Global market cues
The global market cues will be the key factor that will decide the market direction this week. On Monday, Asian markets are trading in the red, SGX Nifty is trading 181 points down. Other than increasing coronavirus cases and vaccine-related news, the market will also react to the various macroeconomic factors that are going to announce during the week.
| Important Global Macro Data Next Week | ||
| 30 Nov | Industrial Production | Japan |
| NBS Manufacturing PMI | China | |
| 1st Dec | Jibun Bank Manufacturing PMI | Japan |
| Caixin Manufacturing PMI | China | |
| Markit Manufacturing PMI | GB | |
| Markit Manufacturing PMI | US | |
| 3rd Dec | Jibun Bank Service PMI | Japan |
| Caixin Service PMI | China | |
| Markit Service PMI | GB | |
| Markit Service PMI | US | |
| 4th Dec | Unemployment rate | US |
FII & DIIs investment
On a weekly basis, FIIs bought Rs 19066.11 crores and on a monthly basis Rs 65317.13 crore in the cash market segment. The DIIs sold Rs15675.35 crores on a weekly basis and Rs 48319.17 crores on monthly basis in the month of November in the cash segment.
FIIs investment was seen highest ever in the month of November. As long as the FIIs are on the buying side Indian benchmark indices may see a new record high in the coming days.
You may also like to read, Global & Indian Stock Markets weekly updates (23-27 Nov)
Nifty50 Stocks list | Index | Share price
Happy Investing!!
Editor’s Desk
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