Nifty and Bank Nifty futures prediction for 2 Feb 2021
Market Updates | A balanced budget for Stock Market, Nifty & Bank Nifty futures prediction for 2 Feb
Market Updates- Nifty & Bank Nifty futures prediction for 2 Feb: Indian stock markets opened positive today after a sharp fall in the last week. The benchmark indices Sensex and Nifty were traded with strong gains in the morning due to positive Asian market cues and a record-high collection of GST amount. The market touched an intraday high after the presentation of Budget 2021 was over. The street has given a thumbs up to the Union Budget 2021 after the benchmark indices made big gains post-budget. The Bank Nifty gained more than 8% today and touched an all-time high.
Adding more support to the market, India’s manufacturing sector activity strengthens in January as companies scaled up production at the quickest pace in three months in response to faster expansions in total sales and new export orders. The seasonally adjusted IHS Markit India Manufacturing PMI rose from 56.4 in December to 57.7 in January, to signal the strongest improvement in the manufacturing sectors in three months.
On the global front, Asian markets were closed higher today as the manufacturing sector in China continued to expand in January, albeit at a slower pace, the latest survey showed by Caixin. The European markets are trading higher due to the rise in shares of miners. The US futures market indices are also trading higher at this time.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty gained 646.60 points or 4.75% and ended at 14281.20 level while Sensex closed 2314.84 points higher or 5.01% at 48600.61 levels. The Bank Nifty closed a record high today. It gained 2523.55 points or 8.26% and ended at 33089.05 level.
Nifty midcap and smallcap indexes closed higher today. The Nifty midcap 100 index gained 691.05 points or 3.30% and closed at 21600.90 level. The smallcap 100 index also jumped 143.90 points or 2.01% and ended at the 7320.75 level.
The top five gainers in the Nifty50 index for the day were IndusInd Bank, ICICI Bank, Bajaj Finserve, SBI, and Larsen and Toubro. The top five losers in the Nifty50 index for the day were UPL, Dr. Reddy’s Lab, Cipla, Tech Mahindra, and HUL. The most active stocks in the Nifty50 index were Tata Motors, ICICI Bank, and IndusInd Bank.
On the sectoral front, almost all major sectors closed higher today. Banking & Finance, Automobiles, Infrastructures, Metals, and Real Estate sectors closed 4% to 7% higher today
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 13785, it made a gap up opening of 75.9 points. It has touched an intraday high at 14398.95 and a day’s low at 13696.55
The Nifty futures share price has given a movement of 702.4 points. In the end, it jumped 685.2 points or 5% and closed at 14394.30 levels.
The Bank Nifty futures share price opened at 30994.85 It made a positive opening of 315.7 points today. It has touched an intraday high at 33484.95 and a day’s low at 30942.50
During the day, the Bank Nifty futures share price has given a movement of 2542.45 points. In the end, it gained 2736.5 points or 8.92% and closed at 33415.65 levels.
Nifty and Bank Nifty futures prediction for 2 Feb ( Feb Expiry)
Nifty futures prediction 2 Feb 2021
Primary Nifty Trend in futures: Positive and Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14500 whereas All Down Moves Initiates Short Covering (Buy) @ 14200
If the Nifty futures share price Moves Above 14430 and sustain. Then you should Buy with 1st Target of 14470 during the day with a Stop Loss of 14350 FOR the Target of 14470-14495- 14525
If the Nifty futures share price Moves Below 14330 and sustain. Then you should Sell with the 1st Target of 14250 during the day with a Stop Loss of 14430. FOR the Target of 14250- 14180 -14130
Bank Nifty futures prediction for 2 Feb 2021 (Feb Expiry)
Primary Trend of Bank Nifty Futures: Positive and Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34200, whereas All Down Moves Initiates Short Covering (Buy) @ 32900
Suppose Bank Nifty futures share price Moves Above 33450 and sustain. Then you should Buy with the 1st Target of 33650 during the day with a Stop Loss of 33170. FOR the Target of 33650 – 33880- 34250
If the Bank Nifty futures share price Moves Below 33170 and sustained. Then you should Sell with the 1st Target of 32925 during the day with a Stop Loss of 33450. FOR the Target of 32925 – 32650- 32526
Conclusions:
Indian stock market bounced back after six days of losing streak. Investors cheered and given a thumbs up to the measures announced in the Union Budget 2021. It’s an overall growth-oriented budget primarily focused on Infrastructure and Healthcare. Going ahead the Indian market is looking strong, the banking sector will be in focus now as RBI Monetary policy is scheduled on 5 February.
Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for 2 Feb 2021.
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