Nifty above 11900, Sensex gained 355pts, Nifty & Bank Nifty futures prediction for 5 Nov

 

Nifty & Bank Nifty Futures Predictions for 5 Nov: Indian stock market opened in the red and traded volatile during the day. The benchmark indices Nifty and Sensex mostly traded above their neutral lines today and later closed in the positive zone. Positive cues from the global markets helped benchmark indices to hold gains for the third consecutive days in November.

Domestic market sentiment got boosted after India’s October PMI service data announced. The service PMI number in October stood at 54.1 from 49.8 in September. After hitting a low in April due to pandemic induced lockdown, the service sector posted expansion in October for the first time since February. This indicates a gradual normalization of business activities after the relaxation of lockdown curbs by the government.

On the global front, Asian markets were mostly closed in the green after China’s service sector expanded strongly in October. The Caixin service PMI data advanced to 56.8 in October as compared to 54.8 in September. The European markets trading higher after early losses on Wednesday as the US President Donald Trump took lead over Democratic rival Joe Biden in a number of vital swing states. The US futures markets Dow and Nasdaq futures are trading mixed and volatile today.

 

Stock market today: Nifty, Sensex, and Bank Nifty on the spot.

 

At the close, Nifty gained 95 points or 0.80% and at 11908.50 levels while Sensex was up by 355.01 points or 0.88% and at 40616.14 levels. The Bank Nifty on the spot levels gained 88.80 points or 0.35% and ended at 25771.60 levels.

The Nifty midcap and smallcap 100 indices were closed mixed today. The midcap gained 112.15 points or 0.65% and at 17367.05 levels. The Nifty smallcap index closed marginally lower by 6.90 points at 5725.95 levels.

The top five gainers in the Nifty index for the day are IndusInd Bank, Sun Pharma, Divis Lab, Reliance, and Infosys. The top losers in the Nifty index for the day are UPL, HDFC, Hindalco, Axis Bank, and Power Grid Corp. The most active stocks for the day in NSE were Reliance, SBI, and Sun Pharma.

On the sectoral front, Consumer Durables, Capital Goods, Oil & Gas, Healthcare, and IT software sectors closed higher today. On the losing side, Telecom, Real Estates, Metals, Manufacturing, and Aviation sectors closed in the red today.

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 11823.65, it made a flat opening of just 1.3 points down. It has touched an intraday high at 11945.05 and a day’s low at 11744

The Nifty futures share price has given a movement of 201.05 points. In the end, it gained 82.65 points or 0.70% and closed at 11907.60 levels.

The Bank Nifty futures share price opened at 25588. It made a gap down opening of 81.55 points today. It has touched an intraday high at 25913.70 and a day’s low at 25091.75 

During the day, the Bank Nifty futures share price has given a movement of 821.95 points. In the end, it gained only 14.35 points and closed flat at 25683.90 levels.

 

Nifty and Bank Nifty futures prediction for 5 Nov ( Nov Expiry)

 

Nifty futures prediction for 5 Nov 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 12050 whereas All Down Moves Initiates Short Covering (Buy) @ 11850

If the Nifty futures share price Moves Above 11930 and sustain. Then you should Buy with 1st Target of 11980 during the day with a Stop Loss of 11850 FOR the Target of 11980- 12018- 12046

If the Nifty futures share price  Moves Below 11850 and sustain. Then you should Sell with the 1st Target of 11826 during the day with a Stop Loss of 11930. FOR the Target of 11826- 11780 -11750

 

Bank Nifty futures prediction, 5 Nov  2020

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 26200, whereas All Down Moves Initiates Short  Covering (Buy) @ 25500

Suppose Bank Nifty futures share price Moves Above 25820 and sustain. Then you should Buy with the 1st Target of 26035 during the day with a Stop Loss of  25480. FOR the Target of 26035 – 26210- 26380

If the Bank Nifty futures share price Moves Below 25480 and sustained. Then you should Sell with the 1st Target of 25380 during the day with a Stop Loss of 25820. FOR the Target of 25380 – 25220- 24975

Conclusions:

Technically, Indian stock markets are looking bullish. Today the volatility in the market was due to the US Presidential election and the close contest between the two potential candidates. The final result will take time to come out, the market may trade volatile another couple of days till some clarity comes in. 

Traders can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 5 Nov.2020.

 

Also read,  Nifty50 Stocks list | Index | Share price

                  Nifty & Bank Nifty futures for next week, 2-6 Nov 2020 

                 Quarterly Results of Nifty50 Stocks- Read Analysis    

               

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Editor’s Desk

 

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