Bank Nifty Futures | Nifty Futures prediction for 5 Feb 2021
Stock Market Prediction-Nifty and Bank Nifty futures trading ideas for 5 Feb 2021
Nifty & Bank Nifty Futures Prediction for 5 Feb 2021: Indian stock markets made a pessimistic start on Thursday amid lackluster global cues. Markets traded lower in the morning due to profit-booking in the Banking stocks. In the second half, the bank nifty recovered and supported the markets to close higher.
The markets traded lower in the morning due to negative cues from the other Asian markets. Traders were also concerned as India recorded more than 12K fresh Coronavirus cases yesterday. Some cautiousness was also seen in the market due to rating agency Moody’s statement that India’s fiscal deficit projections are higher than expected and slower consolidation will constrain its fiscal strength over the medium term.
Meanwhile, investors are looking ahead to the Reserve Bank of India’s (RBI’s) Monetary Policy meeting outcome on Friday morning at 10 am. The RBI’s Monetary Policy Committee (MPC) is widely expected to keep the repo rate unchanged this time.
On the global front, Asian markets were mostly closed negative today after strong gains in the previous session. European markets are trading marginally higher at this moment as investors are hopeful of swift global economic recovery. The US futures markets are trading marginally higher as investors turned cautious ahead of the corporate earnings results.
Indian stock market today: Sensex, Nifty, and Bank Nifty
At the close, Nifty gained 105.70 points or 0.72% and closed at 14895.65 levels while Sensex was up by 358.54 points or 0.72% and at 50614.29 levels. The Bank Nifty on the spot price jumped 586.35 points or 1.69% and ended at 35344.80 levels.
The Nifty midcap and smallcap outperformed the benchmark indices today. The Nifty midcap 100 index gained 238.35 points or 1.06% and closed at 22673.15 levels. The smallcap index made a 116.15 points gain or 1.55% and ended at 7616.95 levels.
The top five gainers in the Nifty50 index were ITC, SBI, Bajaj Finance, Coal India, and ONGC. The top five losers in the Nifty50 index were Asian Paints, UPL, Cipla, IndusInd Bank, and Tata Motors. The most active stocks in the Nifty50 index were SBI, Tata Motors, and Bharti Airtel.
On a sectoral front, Capital Goods, Banking & Finance, FMCG, Automobiles, and Metals sectors closed higher. On the losing side, IT & Software, Telecom, and Chemical sectors closed marginally lower today.
Nifty & Bank Nifty futures price today
The Nifty futures share price opened at 14765, it made a negative opening of 55.55 points. It has touched an intraday high at 14938 and a day’s low at 14731
The Nifty futures share price has given a movement of 207 points. In the end, it gained 69.45 points or 0.47% and closed at 14890 levels.
The Bank Nifty futures share price opened at 34551.05 It made a negative opening of 290.7 points today. It has touched an intraday high at 35488 and a day’s low at 34343.55
During the day, the Bank Nifty futures share price has given a movement of 1144.45 points. In the end, it gained 500.7 points or 1.44%, and closed at 35342.45 levels.
Nifty and Bank Nifty futures prediction for 5 Feb ( Feb Expiry)
Nifty futures prediction 5 Feb 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15000 whereas All Down Moves Initiates Short Covering (Buy) @ 14860
If the Nifty futures share price Moves Above 14903 and sustain. Then you should Buy with 1st Target of 14940 during the day with a Stop Loss of 14850 FOR the Target of 14940-14975- 15015
If the Nifty futures share price Moves Below 14850 and sustain. Then you should Sell with the 1st Target of 14812 during the day with a Stop Loss of 14903. FOR the Target of 14812- 14770 -14745
Bank Nifty futures prediction for 5 Feb 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35980, whereas All Down Moves Initiates Short Covering (Buy) @ 34800
Suppose Bank Nifty futures share price Moves Above 35430 and sustain. Then you should Buy with the 1st Target of 35770 during the day with a Stop Loss of 35070. FOR the Target of 35770 – 35980- 36200
If the Bank Nifty futures share price Moves Below 35070 and sustained. Then you should Sell with the 1st Target of 34840 during the day with a Stop Loss of 35430. FOR the Target of 34840 – 34650- 34480
Conclusions:
Indian stock markets today closed in the green for the fourth consecutive trading session. Markets sentiment was negative in the morning, however healthy buying in the FMCG and PSU Banking stocks reversed the market mood. The RBI monetary policy outcome is scheduled for tomorrow at 10 am. It is expected that interest rates will be status quo but the commentary on inflation and economic growth will be important to watch out for.
Traders should remain cautious tomorrow due to RBI Monetary Policy and can follow our Daily Morning market views. Traders can follow our Nifty and Bank Nifty futures prediction for 5 Feb 2021 but should maintain strict stop loss.
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