Nifty and Bank Nifty Prediction for Tomorrow 7 Oct 2022
Nifty and Bank Nifty Prediction for Tomorrow 7 Oct 2022: Indian equity markets ended in the green amid volatility on Thursday. Trading was volatile due to the expiry of the weekly options on NSE. Investors remain cautious in the late morning session, as the country’s services activity expanded at a slow pace in September according to the S&P Global PMI data.
Among the sectors, buying was witnessed in the Metals, Media, and Realty today, while some profit booking was seen in FMCG and Pharma sectors. The broader markets outperformed the benchmark indices, as Nifty mid and smallcap indices gained over 1 percent today. At the close, the benchmark indices, Sensex and Nifty closed higher by 0.27 percent and 0.33 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for 6 Oct (Oct Expiry)
The Nifty futures price opened at 17421.20, making a positive opening of 128.2 points today. It has touched an intraday high of 17444 and a day’s low of 17313
The Nifty futures price has given a movement of 131 points today. In the end, it closed higher by 20 points or 0.12 percent and ended at 17313 levels.
The Bank Nifty futures opened at 39499.95 It made a positive opening of 232 points. The Bank Nifty futures has touched an intraday high at 39750 and a day’s low at 39340.10
During the day, the Bank Nifty futures has given a movement of 409.9 points. In the end, it closed higher by 87.05 points or 0.22 percent and closed at 39355 levels.
Nifty & Bank Nifty Prediction for Tomorrow 7 Oct 2022 (Oct Expiry)
Nifty Futures Prediction for Tomorrow 7 Oct 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17450 whereas All Down Moves Initiates Short Covering (Buy) @ 17250
If the Nifty futures share price Moves Above 17358 and sustain. Then you should Buy with 1st Target of 17390 during the day with a Stop Loss of 17302 FOR the Target of 17390- 17430- 17448- 17480
If the Nifty futures share price Moves Below 17244 and is sustained. Then you should Sell with the 1st Target of 17202 for the day with a Stop Loss of 17285. For the Target of 17202- 17160- 17130- 17090
If you want Live Trading calls for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 7 Oct 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39750 whereas All Down Moves Initiates Short Covering (Buy) @ 39000
Suppose the Bank Nifty futures Moves Above 39555 and sustain, then you should Buy with the 1st Target of 39640 during the day with a Stop Loss of 39350 and the Target of 39640- 39760- 39870 – 40000
If the Bank Nifty futures Moves Below 39225 and sustain, then you should Sell with the 1st Target of 39120 the day with a Stop Loss of 39315. For the Target of 39120- 39018 -38855- 38675
Global Stock Markets Today
On the global front, the other Asian market indexes closed mostly higher on Thursday, despite weak trading on Wall Street overnight. Investors remained cautious ahead of US monthly job data which is due on Friday amid a continued gloomy global mood. Japan’s Nikkei hit a two-week high due to jumps in energy and chip shares while Hong Kong’s Hang Seng was knocked back despite trimming earlier losses. China’s mainland markets remained closed for a holiday.
European stock market indexes are trading slightly lower on Thursday, paring back early gains, after stocks in the US fell following fresh job market numbers and a production cut by the OPEC+ oil-producing countries. The US future indexes, Dow and Nasdaq indexes are trading lower on Thursday, indicating a lower opening for the US markets.
Conclusion
Indian markets ended in the green after a volatile trading session today. Tomorrow markets will open as per global cues and remain volatile ahead of the US job data.
Also read: Best Options Trading Books in India-Must Read 2021
Demat and trading Account- Discount Vs Full Service Broker
If you like the post “ Nifty and Bank Nifty Prediction for Tomorrow 7 Oct 2022” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
