Nifty and Bank Nifty prediction for Monday, 4 October 2021: Indian markets started the October series on a pessimistic note. Markets opened lower amid weak global cues on Friday and continued to trade in the negative territory even after the positive economic data ( Manufacturing PMI & GST collection) announced during the markets. In the end, markets trimmed some intraday losses but closed lower on the last day of the week.
Nifty and Nifty Bank futures price movement for 1 October (October Expiry)
On Friday, Nifty futures made a negative opening at 17523.70 levels, down by 99.45 points. It has touched an intraday high at 17562.30 and a day’s low at 17433
The Nifty futures has given a movement of 129.3 points on Friday. In the end, it declined by 97.40 points or 0.55 percent and ended at 17525.75 levels.
The Bank Nifty futures opened at 37321 levels on the last day of the week. It made a gap-down opening of 297.9 points on Friday. It has touched an intraday high at 37424.95 and a day’s low at 36950.15.
On Friday, the Bank Nifty in futures has given a movement of 474.8 points. In the end, it declined by 259 points or 0.69 points and closed at 37359.90 levels
Nifty & Bank Nifty Prediction for Monday, 4 October 2021 (Oct Expiry)
Nifty Futures Prediction for Monday, 4 October 2021
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17560 whereas All Down Moves Initiates Short Covering (Buy) @ 17430
If the Nifty futures share price Moves Above 17576 and sustain. Then you should Buy with 1st Target of 17609 during the day with a Stop Loss of 17540 FOR the Target of 17609-17650- 17696
If the Nifty futures share price Moves Below 17500 and is sustained. Then you should Sell with the 1st Target of 17458 during the day with a Stop Loss of 17530. FOR the Target of 17458- 17418-17380
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Bank Nifty Futures Prediction for Monday, 4 October 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37450, whereas All Down Moves Initiates Short Covering (Buy) @ 37100
Suppose the Bank Nifty futures Moves Above 37535 and sustain, then you should Buy with the 1st Target of 37640 during the day with a Stop Loss of 37400. FOR the Target of 37640 – 37780 – 37920
If the Bank Nifty futures Moves Below 37280 and sustain, then you should Sell with the 1st Target of 37140 during the day with a Stop Loss of 37360. FOR the Target of 37140 – 37075 – 36960
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Global market indexes
European markets closed in the red on Friday as investors worried about an economic slowdown and rising inflation. A recent survey showed eurozone manufacturing growth remained strong in September but activity took a big hit from supply chain bottlenecks that are likely to continue and keep inflationary pressure high.
The US markets closed higher on Friday as US factory growth unexpectedly advances four months high. The prospects for a pickup in growth offset the concern of inflationary pressure at the time when the Fed is getting ready to withdraw the pandemic-era stimulus.
Conclusions
The global markets closed lower during the week ended 1st October. Indian markets also corrected almost 2 percent during the week. Technically, Indian markets are looking bearish in the short term but one can accumulate good quality stocks on dips from a medium to long term perspective
Traders should follow the Asain Markets updates on Monday morning on our website to find out the market trend just before the market gets open.
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Also read, Best stocks to buy in India for short term 2021 October
Weekly Stock Market Indexes & Analysis (27 Sept – 1 Oct)
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