Nifty & Bank Nifty Futures Prediction for 5 August 2021
Nifty and Bank Nifty futures prediction for tomorrow 5 August 2021: Indian stock markets opened at record high levels on Wednesday and continued to trade northwards direction tracking gains in global peers. The benchmark indices claimed a fresh record high for the second consecutive day. In the end, the market closed almost a percent higher today.
The market sentiments were positive as seasonally adjusted India Service PMI data rose from 41.2 in June to 45.4 in July, but still in contraction due to subdued demand conditions amid the coronavirus crisis. Traders took note of the report that the Central Board of Direct Taxes (CBDT) has extended the due dates for electronic filing of various forms under the Income Tax Act 1961 considering the difficulties reported by the taxpayers and other stakeholders in the electronic filing of certain forms.
Today’s market updates; Sensex, Nifty, and Bank Nifty spot price
Finally, Nifty gained 128.05 points or 0.80 percent and closed at 16258.80 while Sensex jumped 546.41 points or 1.02 percent and closed at 54369.77 levels. The Bank Nifty spot price climbed 820.60 points or 2.34 percent and ended at 36028.05 levels.
The broader markets underperformed the benchmark indices today. The Nifty midcap index declined 337.45 points or 1.19% and closed at 27928.20 levels. The Nifty smallcap index was down by 106.95 points or 1.01% and ended at 10484.85 levels.
The top five gainers in the Nifty 50 index were HDFC, Kotak Bank, ICICI Bank, SBI, and HDFC Bank. The top five losers in the Nifty 50 index were Grasim, Titan, Tata Motors, Adani Ports, and Hindalco. The most active stocks in the Nifty 50 index in terms of value were SBI, HDFC, and ICICI Bank. The most active stocks in terms of volume were SBI, ICICI Bank, and Tata Motors.
On a sectoral front, the Banking, Finance, Insurance, and Oil & Gas sectors closed higher today. The sectors that closed lower were Automobiles, Telecom, FMCG, Healthcare, IT & Software, and Realty.
Nifty and Nifty Bank futures price movement for 4 August ( Aug Expiry)
The Nifty futures price opened at 16200 and made a positive opening of 53.5 points. It has touched an intraday high at 16294.70 and a day’s low at 16188
The Nifty futures price has given a movement of 106.77 points today. In the end, it gained 110 points or 0.68 percent and ended at 16256.50 levels.
The Bank Nifty futures opened at 35425.10. It made a positive opening of 128.4 points today. It has touched an intraday high at 36275 and a day’s low at 35413
During the day, the Bank Nifty in futures has given a movement of 862 points. In the end, it closed higher by 792.35 points or 2.24 percent and closed at 36089.05 levels
Nifty & Bank Nifty Futures Prediction for 5 August 2021, (Aug Expiry)
Nifty Futures Prediction for Tomorrow 5 August 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16320 whereas All Down Moves Initiates Short Covering (Buy) @ 16200
If the Nifty futures share price Moves Above 16275 and sustain. Then you should Buy with 1st Target of 16304 during the day with a Stop Loss of 16222 FOR the Target of 16304-16328- 16353
If the Nifty futures share price Moves Below 16222 and is sustained. Then you should Sell with the 1st Target of 16197 during the day with a Stop Loss of 16275. FOR the Target of 16197- 16169-16138
Bank Nifty Futures Prediction for Tomorrow, 5 August 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36400, whereas All Down Moves Initiates Short Covering (Buy) @ 35900
Suppose the Bank Nifty futures Moves Above 36192 and sustain, then you should Buy with the 1st Target of 36438 during the day with a Stop Loss of 35925. FOR the Target of 36438 – 36615 – 36785
If the Bank Nifty futures Moves Below 35925 and sustain, then you should Sell with the 1st Target of 35755 during the day with a Stop Loss of 36192. FOR the Target of 35755 – 35575 – 35380
Global markets today
On the global front, Asian markets indexes mostly closed positive on Wednesday as China’s service sector surges. The positive cues overnight from Wall Street shrugged off concerns about the rapid spread of the delta variant of Covid-19 infections and continued optimism about the economic outlook. Nikkei closed lower as the service sectors in Japan continued to contract in July.
European markets are trading higher on Wednesday following the positive overnight session in the US and Asia, despite rising delta variants of Covid-19 infections in the region. The US futures, Dow, and Nasdaq futures are trading flat at this moment at 4.30 pm IST
Conclusions
Indian stock markets closed at a record high for the second consecutive day. The market gained with the support of positive global cues and strong buying in the Banking sectors. Traders should remain cautious as markets are trading at an all-time high. The midcap and smallcap indexes underperformed the benchmark indices and most of the sectoral indices also closed in the red.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for Tomorrow 4 August 2021.
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