Nifty and Bank Nifty Prediction for Tomorrow 4 Oct 2022
Nifty and Bank Nifty Prediction for Tomorrow 4 Oct 2022: Indian equity markets ended lower on Monday amid volatility. The market sentiments were negative due to weak global cues and a slow pace of manufacturing activity in Sept as per S&P Global PMI data. Among the sectors, barring pharma & healthcare, all other sectoral indices closed in the red. The sectors that dragged down the most were metals, FMCG, auto, and banks.
The market breadth was positive. The benchmark indices, Sensex and Nifty fell 1.11 percent and 1.21 percent respectively. The broader markets were closed lower almost in line with their larger peers. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for 3 Oct (Oct Expiry)
The Nifty futures price opened at 17021, making a negative opening of 82.2 points today. It has touched an intraday high of 17105 and a day’s low of 16858
The Nifty futures price has given a movement of 247 points today. In the end, it closed lower by 214.95 points or 1.26 percent and ended at 16888.25 levels.
The Bank Nifty futures opened at 38705.30 It made a negative opening of 102.05 points. The Bank Nifty futures has touched an intraday high at 38810 and a day’s low at 38086.40
During the day, the Bank Nifty futures has given a movement of 723.6 points. In the end, it closed lower by 677.35 points or 1.75 percent and closed at 38130 levels.
Nifty & Bank Nifty Prediction for Tomorrow 4 Oct 2022 (Oct Expiry)
Nifty Futures Prediction for Tomorrow 4 Oct 2022
Primary Nifty Trend in futures: Negative & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16950 whereas All Down Moves Initiates Short Covering (Buy) @ 16750
If the Nifty futures share price Moves Above 16934 and sustain. Then you should Buy with 1st Target of 16974 during the day with a Stop Loss of 16900 FOR the Target of 16974- 17016- 17046- 17112
If the Nifty futures share price Moves Below 16830 and is sustained. Then you should Sell with the 1st Target of 16802 for the day with a Stop Loss of 16865. For the Target of 16802- 16775- 16751- 16712
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Bank Nifty Futures Prediction for Tomorrow 4 Oct 2022
Primary Trend of Bank Nifty Futures: Negative & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38400 whereas All Down Moves Initiates Short Covering (Buy) @ 37850
Suppose the Bank Nifty futures Moves Above 38300 and sustain, then you should Buy with the 1st Target of 38380 during the day with a Stop Loss of 38090 and the Target of 38380- 38425- 38535- 38650
If the Bank Nifty futures Moves Below 37970 and sustain, then you should Sell with the 1st Target of 37840 the day with a Stop Loss of 38060. For the Target of 37840 – 37715 -37580- 37500
Global Stock Markets Today
On the global front, the other Asian stock market indexes mostly closed in the red on Monday. The market sentiments were subdued due to inflationary pressures and fears of recession continuing to dominate the market’s mood. Japan’s Nikkei extended gains in the last hour, as chip-related stocks rallied and energy shares tracked gains in crude oil prices.
China’s Shanghai and South Korean markets were closed today due to a holiday. Hong Kong shares closed lower, as investors stayed away amid a week-long holiday in China while waiting for hints of a clearer economic direction.
European stock market indexes opened sharply lower on Monday, as the UK government was forced to reverse a cut in the top rate of income tax, and oil prices spiked on reports of output cuts by OPEC+ countries. The US future index Dow and Nasdaq futures are trading in the green indicating a positive opening for the US markets.
Conclusion
Indian stock markets started the week on a feeble note, as global cues were negative. The markets were volatile and the volatility index “India VIX” gained 7% and closed at 21.36. The continuous selling pressure by the FIIs also hit the market sentiments. Traders should remain cautious and trade with stop loss only.
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