Nifty, Bank Nifty futures prediction for tomorrow, 3 Nov
Nifty and Bank Nifty futures prediction for tomorrow, 3 Nov 2021: Indian equity markets opened higher on Tuesday amid mixed Asian Markets cues. The benchmark indices erased their early gains in the morning itself and were swinging near their neutral lines in the afternoon session. Traders remained cautious ahead of the FOMC meeting outcome and preferred to book profits ahead of the events. Profit booking was mainly seen in the pharma, metals, and FMCG sectors whereas buying were witnessed in the realty, PSU banks, and auto counters. At the close, Indian market indices ended marginally lower today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 2 November (Nov Expiry)
The Nifty futures price opened at 18010.05, making a flat to the positive opening of only 1.6 points higher. It has touched an intraday high at 18038 and a day’s low at 17861
The Nifty futures price has given a movement of 177 points today. In the end, it declined 85.5 points or 0.47 percent and ended at 17922.95 level.
The Bank Nifty futures opened at 40075. It made a positive opening of 46.9 points today. It has touched an intraday high at 40250 and a day’s low at 39725
During the day, the Bank Nifty in futures has given a movement of 525 points. In the end, it closed higher by 9.90 points or 0.02 percent and closed at 40038 levels.
Nifty & Bank Nifty Futures Prediction for Tomorrow, 3 Nov 2021 (Nov Expiry)
Nifty Futures Prediction for Tomorrow, 3 Nov 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18050 whereas All Down Moves Initiates Short Covering (Buy) @ 17850
If the Nifty futures share price Moves Above 17982 and sustain. Then you should Buy with 1st Target of 18009 during the day with a Stop Loss of 17938 FOR the Target of 18009-18040- 18065
If the Nifty futures share price Moves Below 17860 and is sustained. Then you should Sell with the 1st Target of 17838 during the day with a Stop Loss of 17909. FOR the Target of 17838- 17802- 17776
Bank Nifty Futures Predictions for Tomorrow, 3 Nov 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40400, whereas All Down Moves Initiates Short Covering (Buy) @ 39950
Suppose the Bank Nifty futures Moves Above 40142 and sustain, then you should Buy with the 1st Target of 40260 during the day with a Stop Loss of 39990. FOR the Target of 40260 – 40395 – 40554
If the Bank Nifty futures Moves Below 39900 and sustain, then you should Sell with the 1st Target of 39780 during the day with a Stop Loss of 39875. FOR the Target of 39780 – 39675 – 39530
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Global markets today
On the global front, Asian markets closed mostly in the red, after the Hong Kong economy grew at a slower pace in the third quarter due to the base effect and the stronger than expected economic performance in the first half of the year. Traders are also cautious ahead of the US FOMC meeting outcome expected on 3 November.
European markets are trading mixed and near their previous close on Tuesday as investors continued to wait for key central bank meetings this week for decisions on rate rises and asset purchase tapering. The US future indexes, Dow and Nasdaq futures are trading almost flat at this time.
Conclusions
Indian stock markets opened higher and erased their early gains today. The key benchmarked indexes could not sustain at higher levels due to profit booking in the metal, energy, and pharma stocks. Traders were cautious ahead of Diwali due to the US FOMC meeting outcome on 3 November and preferred to book profit at the higher levels.
The weekly F&O expiry is scheduled for tomorrow and the US Federal Reserve outcome is expected later in the evening. Traders need to remain cautious tomorrow as markets may remain volatile.
Also read, Best Options Trading Books in India-Must Read 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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