Indian stock markets closed flat, Nifty & Bank Nifty futures prediction for 3rd Dec 2020

 

Nifty & Bank Nifty futures prediction 3rd Dec: Indian stock markets opened on a flat note today as indicated by the Asain market cues. The markets continued to trade in the negative trend today. The Sensex and Nifty mostly traded below their psychological levels 44500 and 13100 respectively. In the last hour, markets recovered from their lower levels and closed almost flat. 

 

Stock market today, Sensex, Nifty and Bank Nifty

 

At the close, Nifty gained 4.70 points or 0.4% and at 13113.75 levels while Sensex declined 37.40 points or 0.08% and at 44618.04 levels. The Bank Nifty on the spot levels down 354.70 points or 1.18% and at 29463.15 levels.

The Nifty midcap 100 index closed in the green today. It gained 97.80 points or 0.49% and at 20001.70 levels. The Nifty smallcap 100 index closed flat today. It declined only 0.50 points and ended at 5613.60 levels.

The top five gainers in the Nifty index for the day are GAIL, ONGC, Asian paints, Titan Company, and Adani Ports. The top five losers in the Nifty index for the day are Kotak Mahindra, HDFC Bank, HDFC, Shree Cement, ICICI Bank. reliance, Bajaj Finance, and Tata Motors were the most active stocks in the NSE today.

On a sectoral basis, Metals & Minings, Capital Goods, Infrastructure, Automobiles, and  Insurance sectors closed as to gaining sector. On the losing side Banking & Finance and Consumer durables close in the red today.

 

Stock market news today

 

The market sentiments were under pressure as ICRA in its latest report has said that debt resolution through the Insolvency and bankruptcy code (IBC) and the resultant realization for financial creditors has taken a hit so far this financial year due to the pandemic that leads to suspension of fresh proceedings.

However in the end the market recovered from the lower levels as traders took some support with the report that the Organisation for Economic Co-operation and Development (OECD) has raised prospects of Indian’s economy by setting a contraction at 9.9% against 10.2% earlier projected in September.

On the global front, Asian markets were mostly closed in the green today amid growing progress over a coronavirus vaccine and global economic recovery. The European markets are trading on a flat note. The US future market indices Dow and Nasdaq futures are trading flat to negative today.

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 13144.40, it made a flat to the positive opening of 1 point. It has touched an intraday high at 13177 and a day’s low at 13017.95

The Nifty futures share price has given a movement of 159.05 points. In the end, it gained 4.9 points or 0.04% and closed at 13148.30 levels.

The Bank Nifty futures share price opened at 29865.55. It made a negative opening of 26.65 points today. It has touched an intraday high at 29912 and a day’s low at 29202

During the day, the Bank Nifty futures share price has given a movement of 710 points. In the end, it declined 349.15 points or 1.17% and closed at 29543.05 levels.

 

Nifty and Bank Nifty futures prediction for 3rd Dec ( Dec Expiry)

 

Nifty futures prediction for 3rd Dec 2020

Primary Nifty Trend in futures: Mild Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 13210 whereas All Down Moves Initiates Short Covering (Buy) @ 13080

If the Nifty futures share price Moves Above 13172 and sustain. Then you should Buy with 1st Target of 13206 during the day with a Stop Loss of 13110  FOR the Target of 13206-13230- 13254

If the Nifty futures share price  Moves Below 13110 and sustain. Then you should Sell with the 1st Target of 13084 during the day with a Stop Loss of 13172. FOR the Target of 13084- 13051 -13008

 

Bank Nifty futures prediction, 3rd Dec  2020

Primary Trend of  Bank Nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 29900, whereas All Down Moves Initiates Short  Covering (Buy) @ 29000

Suppose Bank Nifty futures share price Moves Above 29730 and sustain. Then you should Buy with the 1st Target of 29902 during the day with a Stop Loss of  29370. FOR the Target of 29902 – 30080- 30260

If the Bank Nifty futures share price Moves Below 29370 and sustained. Then you should Sell with the 1st Target of 29190 during the day with a Stop Loss of 29730. FOR the Target of 29190 – 29017- 28840

 

Conclusions:

Indian stock markets recovered from the day’s low in the last hour and closed almost flat. Profit bookings in the private banking sectors were seen in the markets. Benchmark indices closed almost flat after a volatile trading session today.

On the global front, the market sentiments are positive due to coronavirus vaccine news. Going ahead, the Indian markets may follow global peers. On the domestic front, Service PMI data is expected tomorrow during market hours.

Traders can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 3rd Dec. 2020.

 

Also read,     The Best Stock market book to read to make money 

                    Nifty, Bank Nifty futures prediction for (1st-4th Dec) week 

          

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Editor’s Desk

 

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