Nifty and Bank Nifty Prediction for Thursday 1 Sept 2022
Nifty and Bank Nifty Prediction for Thursday 1 Sept 2022: Indian equity market indexes rallied on Tuesday following positive cues from Asian markets and US futures. The benchmark indices comfortably moved higher on the back of buying in all sectoral indices led by Realty, Banks, Financials, and Auto. The broader markets also closed higher today
The market breadth was strong today, the key indices Sensex and Nifty gained 2.70 percent and 2.58 percent respectively, and closed near the day’s high. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 30 Aug (Sept Expiry)
The Nifty futures price opened at 17451, making a positive opening of 80.75 points today. It has touched an intraday high of 17844.75 and a day’s low of 17442.20
The Nifty futures price has given a movement of 402.55 points today. In the end, it closed higher by 452.75 points or 2.61 percent and ended at 17823 levels.
The Bank Nifty futures opened at 38607.10 It made a positive opening of 165.35 points. The Bank Nifty futures has touched an intraday high at 39786.65 and a day’s low at 38606.25
During the day, the Bank Nifty futures has given a movement of 1180.40 points. In the end, it closed higher by 1268.9 points or 3.30 percent and closed at 39710.65 levels.
Nifty & Bank Nifty Prediction for Thursday 1 Sept 2022 (Sept Expiry)
Nifty Futures Prediction for Thursday 1 Sept 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17930 whereas All Down Moves Initiates Short Covering (Buy) @ 17750
If the Nifty futures share price Moves Above 17865 and sustain. Then you should Buy with 1st Target of 17900 during the day with a Stop Loss of 17815 FOR the Target of 17900- 17930- 17965
If the Nifty futures share price Moves Below 17750 and is sustained. Then you should Sell with the 1st Target of 17715 for the day with a Stop Loss of 17795. For the Target of 17715- 17675- 17645
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Bank Nifty Futures Prediction for Thursday 1 Sept 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40100 whereas All Down Moves Initiates Short Covering (Buy) @ 39500
Suppose the Bank Nifty futures Moves Above 39850 and sustain, then you should Buy with the 1st Target of 39940 during the day with a Stop Loss of 39700 and the Target of 39940- 40050- 40130
If the Bank Nifty futures Moves Below 39500 and sustain, then you should Sell with the 1st Target of 39380 the day with a Stop Loss of 39650. For the Target of 39380 – 39220 -39140
Global Stock Markets Today
On the global front, Shanghai and Heng Seng ended lower on Tuesday amid concern about the tighter covid restrictions. Investors in China were also concerned about tightening global monetary policies. Whereas other Asian stock markets were closed higher as investors turned their focus to this week’s US unemployment rate to gauge the pace of interest rate hikes by the US Fed in September.
European key market indexes are trading mixed erasing most of their early gains after the sharp sell-off in the previous session, as weak economic data was released in the region and following the negative cues from the US markets. The latest data released today showed that the August economic sentiment index and industrial sentiments slipped in Europe. The US stock market indexes are trading lower at 9.30 pm IST
Conclusion
Indian markets have bounced back after a heavy selloff in the previous session amid positive cues from Asian and European markets. The domestic markets closed near the day’s high as investors’ focus now shifted from the hawkish Fed’s stance to the strong domestic economic data expected during the week. Tomorrow, the Indian stock markets will remain closed on account of Ganesh Chaturthi.
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