Nifty & Bank Nifty Prediction for Monday, 1 Nov 2021
Nifty and Bank Nifty futures prediction for Monday, 1 Nov: Indian stock markets declined consecutively for the second straight week ended 29 October. Last Friday, market indexes opened lower amid mixed cues from the global markets and extended their previous days’ losses. Heavy selling from the foreign institutional investors (FIIs) subdued the domestic market sentiments during the week. You can read the weekly (25-29 Oct) stock market analysis here
Nifty and Nifty Bank futures price movement on Friday 29 Oct (Nov Expiry)
On Friday 29 October, Nifty futures opened at 17860.70 levels, down by 52.4 points. It has touched an intraday high at 17944 and a day’s low at 17659.25
The Nifty futures has given a movement of 284.75 points on Thursday. In the end, it declined by 167.90 points or 0.94 percent and ended at 17745.20 levels.
The Bank Nifty futures opened at 39644.95 levels on the last day of the week. It made a negative opening of 51.2 points on Thursday. It has touched an intraday high at 39890.85 and a day’s low at 38606.90
On Thursday, the Bank Nifty in futures has given a movement of 1283.95 points. In the end, it declined by 248.15 points or 0.63 percent and closed at 39448 levels
Nifty & Bank Nifty Prediction for Monday, 1 Nov 2021 (Nov Expiry)
Nifty Futures Prediction for Monday, 1 Nov 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17800 whereas All Down Moves Initiates Short Covering (Buy) @ 17600
If the Nifty futures share price Moves Above 17778 and sustain. Then you should Buy with 1st Target of 17794 during the day with a Stop Loss of 17738 FOR the Target of 17794-17824- 17849
If the Nifty futures share price Moves Below 17685 and is sustained. Then you should Sell with the 1st Target of 17654 during the day with a Stop Loss of 17718. FOR the Target of 17654- 17632- 17604
Bank Nifty Futures Predictions for Monday, 1 Nov 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39700, whereas All Down Moves Initiates Short Covering (Buy) @ 38950
Suppose the Bank Nifty futures Moves Above 39540 and sustain, then you should Buy with the 1st Target of 39627 during the day with a Stop Loss of 39485. FOR the Target of 39627 – 39760 – 39908
If the Bank Nifty futures Moves Below 39185 and sustain, then you should Sell with the 1st Target of 39040 during the day with a Stop Loss of 39320. FOR the Target of 39040 – 38958 – 38730
Global market indexes
European markets closed on a mixed note last Friday as corporate earnings overnight from tech giants Amazon and Apple missed expectations and eurozone inflation reported higher than it was forecasted. The US market indexes closed higher on Friday despite the disappointment from the quarterly earnings from the tech giants Amazon and Apple. Both the companies have warned the investors about the ongoing supply chain disruptions that were affecting their operations.
Conclusions
Indian stock markets closed the week more than 2 percent lower on Friday. The selling pressure from the FIIs weighed the market sentiments on the last day of the week. The broader markets also fell in line with their larger peers on Friday. Going ahead, technically markets are looking negative in the short term and Nifty futures may take support from 17600-17500 levels.
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