Nifty and Bank Nifty Futures Prediction for Tomorrow, 1 December 2023
Nifty and Bank Nifty Futures Prediction for Tomorrow, 1 December 2023: Indian equity benchmarks ended the volatile session with decent gains on Thursday. The markets were volatile due to the November F&O expiry on the NSE.
Traders were cautious ahead of India’s Q2 GDP numbers, exit poll of the Assembly election of five states, and US inflation data due later in the day. However, markets ended higher in the late rally, as FIIs continued their buying spree for five days in a row.
Among the sectors, Pharma, Realty, and FMCG were in demand while Nifty PSU Bank, Bank Nifty, and It sectors witnessed some selling pressure. The market breadth was positive, on the NSE, 1327 shares were advanced while 1165 shares declined at close on Thursday.
The broader markets outperformed their benchmarks, as Nifty mid and smallcap indexes gained 0.68% and 1.14% respectively. At the close, Sensex advanced 0.13% and closed at 66988.44 level, while Nifty was up 0.18% and settled at 20133.15 levels. You can read the detailed market updates here.
Breaking News:- India Q2 GDP growth reported at 7.6%, sharply above consensus estimate of 6.8%
Nifty and Bank Nifty Futures Price Movement for (28 Dec expiry)
The Nifty futures price for December 28, expiry opened at 20275, making a positive opening of 22.4 points on Thursday. It has touched an intraday high of 20291.60 and a day’s low of 20144.10
The Nifty futures price has given a movement of 147.5 points. In the end, it closed higher by 16.50 points or 0.08 percent and ended at 20269.10 levels.
The Bank Nifty futures for December 28, expiry opened at 44906.90. It made a flat opening on Thursday. The Bank Nifty futures touched an intraday high at 44994.70 and a day’s low at 44512.55
During the day, the Bank Nifty futures have given a movement of 482.15 points. In the end, it closed lower by 166 points or 0.37 percent and closed at 44741 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 1 Dec 2023
Nifty Futures Prediction for Tomorrow, 1 Dec 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend: All up Moves can initiate profit Booking @ 20300 whereas All Down Moves can Initiate Short Covering @ 20100
The Nifty futures December 28, expiry closed at 20269.10 on Thursday. If the Nifty futures move above 20275 and sustain. Then the index can trade in a range of 20295- 20330- 20356 levels during the day.
If the Nifty futures share price moves below 20170 and is sustained. Then the index futures can trade in a range of 20134- 20103- 20065 levels during the day.
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Bank Nifty Futures Prediction for Tomorrow, 1 Dec 2023
Primary Trend in Bank Nifty Futures- Mild Positive
Range-Bound Trend of Bank Nifty Future: All up moves can Initiate Profit Booking @ 44950 whereas All down moves can Initiate Short Covering @ 44300.
The Bank Nifty futures December 28, expiry closed at 44741 levels on Thursday. Suppose the Bank Nifty futures move above 44775 and sustain, then the index can trade in the range of 44880- 44950- 45050 levels during the day.
If the Bank Nifty futures move below 44510 and sustain, then the index can trade in the range of 44385- 44280- 44170 levels during the day.
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Conclusion
Indian markets traded volatile on the expiry day and closed slightly higher, gaining for the third consecutive session. The market sentiments were strong, as FIIs turned buyers and DIIs also continued their buying spree.
The Nifty index is near an all-time high, going ahead we may see a new high in Nifty. We maintain our positive view of the domestic markets and suggest investors continue with a “buy on dips” approach. You can also follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Stock Market Prediction Next Week ( 28 Nov-1 Dec 2023)
Options Trading Books: Your Ultimate 2023 Guide to Winning Big
Happy Investing!
Editor’s Desk
Disclaimer-
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