Nifty and Bank Nifty Prediction for Tomorrow 01 July 2022
Nifty and Bank Nifty Prediction for Tomorrow 01 July 2022: Indian stock markets opened in the red on Thursday amid mixed global cues. The benchmark indices were trading volatile throughout the day in a narrow range ahead of the monthly F&O expiry. Barring Banking and Financial sectors all other sectors were closed in the red today.
The broader markets were underperformed compared benchmark, as the Nifty midcap and smallcap indexes closed lower by 0.88 percent and 0.54 percent respectively. In the end the barometer index, Sensex was down by 0.02 percent while the Nifty ended lower by 0.12 percent today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for June 30 (June Expiry)
The Nifty futures price opened at 15765, making a negative opening of 14.9 points. It has touched an intraday high of 15876.60 and a day’s low of 15712
The Nifty futures price has given a movement of 164.6 points today. In the end, it closed lower by only 1.25 points or 0.01 percent and ended at 15778.65 levels.
The Bank Nifty futures opened at 33202.05 It made a negative opening of 71 points. The Bank Nifty futures has touched an intraday high at 33666 and a day’s low at 33195
During the day, the Bank Nifty futures has given a movement of 471 points. In the end, it closed higher by 147.45 points or 0.44 percent and closed at 33420.50 levels.
Nifty & Bank Nifty Prediction for Tomorrow 01 July 2022 (July Expiry)
Nifty Futures Prediction for Tomorrow 01 July 2022
Primary Nifty Trend in futures: Negative with Cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15900 whereas All Down Moves Initiates Short Covering (Buy) @ 15550
If the Nifty futures share price Moves Above 15815 and sustain. Then you should Buy with 1st Target of 15847 during the day with a Stop Loss of 15770 FOR the Target of 15847- 15875- 15902- 15930
If the Nifty futures share price Moves Below 15700 and is sustained. Then you should Sell with the 1st Target of 15665 for the day with a Stop Loss of 15750. FOR the Target of 15665- 15617- 15590- 15550
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Bank Nifty Futures Prediction for Tomorrow 01 July 2022
Primary Trend of Bank Nifty Futures: Negative with Cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 33550 whereas All Down Moves Initiates Short Covering (Buy) @ 33200
Suppose the Bank Nifty futures Moves Above 33605 and sustain, then you should Buy with the 1st Target of 33734 during the day with a Stop Loss of 33400 the Target of 33734- 33870- 33950- 34075
If the Bank Nifty futures Moves Below 33220 and sustain, then you should Sell with the 1st Target of 33140 the day with a Stop Loss of 33350. FOR the Target of 33140 – 32970 – 32840 – 32730
Global Stock Markets today
On the global front, most of the other Asian markets closed lower on Thursday, fearing recession and slow economic growth. Shanghai index gained over a percent after the fresh data showed a recovery in the manufacturing activity and an easing covid-19 restrictions. Japan’s Nikkei was down more than 1.5 percent today due to the poor factory data.
European markets are trading lower on Thursday after warnings from the central banks that inflation would be more persistent than earlier though. The market sentiments are downbeat as the hawkish comments from Fed, ECB, and BoE sparked the fear of recession among investors. The US futures, Dow Jones, and Nasdaq futures are trading in the deep red at this moment at 5.30 pm IST.
Conclusion
Indian markets ended the June series on a volatile and negative note. The market sentiments were negative due to weak global cues and persistent FIIs outflow. Going ahead, tomorrow’s PMI manufacturing data is expected during the markets, so traders should remain cautious.
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