Nifty | Bank Nifty Prediction for Tomorrow 1 April 2022
Nifty & Bank Nifty Prediction for Tomorrow 1 April 2022: Indian equity markets opened slightly higher on Thursday amid mixed cues from the Asian markets. The benchmark indices traded volatile in a narrow range today. The markets witnessed some buying in the FMCG, Media, and Oil & Gas stocks while profit booking was seen mainly in Pharma, PSU Banks, and IT stocks.
The downside of the market remained limited due to the decline in crude oil prices today. The broader markets outperformed the benchmark indices today, as Nifty midcap and smallcap indexes closed in the green. You can read the detailed market happening, top gainers, and losers here.
Nifty and Nifty Bank futures price movement for 31 March (March Expiry)
The Nifty futures price opened at 17519.55, making a positive opening of 4.15 points. It has touched an intraday high of 17555.80 and a day’s low of 17436.75
The Nifty futures price has given a movement of 119.05 points today. In the end, it closed lower by 51.65 points or 0.29 percent and ended at 17463.75 levels.
The Bank Nifty futures opened at 36899, It made a positive opening of 551.15. points. The Bank Nifty futures has touched an intraday high at 36899 and a day’s low at 36265.20
During the day, the Bank Nifty futures has given a movement of 633.8 points. In the end, it closed higher by 24.15 points or 0.07 percent and closed at 36372 levels.
Nifty & Bank Nifty Prediction for Tomorrow 1 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 1 April 2022
Primary Nifty Trend in futures: Mild Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17650 whereas All Down Moves Initiates Short Covering (Buy) @ 17450
If the Nifty futures share price Moves Above 17585 and sustain. Then you should Buy with 1st Target of 17625 during the day with a Stop Loss of 17550 FOR the Target of 17628- 17685 – 17680- 17732
If the Nifty futures share price Moves Below 17485 and is sustained. Then you should Sell with the 1st Target of 17450 for the day with a Stop Loss of 17515. FOR the Target of 17450-17415- 17368- 17328
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Bank Nifty Futures Prediction for Tomorrow 1 April 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36900 whereas All Down Moves Initiates Short Covering (Buy) @36400
Suppose the Bank Nifty futures Moves Above 36650 and sustain, then you should Buy with the 1st Target of 36730 during the day with a Stop Loss of 36555 the Target of 36730- 36830- 36970- 37130
If the Bank Nifty futures Moves Below 36440 and sustain, then you should Sell with the 1st Target of 36360 the day with a Stop Loss of 36525. FOR the Target of 36360 – 36250 – 36140- 36035
Global Stock Markets today
On the global front, the majority of Asian market indexes closed in the red due to slow progress in finding diplomatic solutions between Russia-Ukraine. Shanghai Closed lower as fresh data showed the factory activity and services sectors had swung into negative territory in March. While investors were worried about the impact of recent covid-19 restrictions in the region.
European markets are trading lower at this moment taking negative cues from the Asian markets. The US future index, Dow Jones, and Nasdaq futures are trading mixed at this moment, Dow futures are marginally down while Nasdaq futures are slightly trading higher at 5.30 pm IST
Conclusion
The markets took a pause after a gain of three consecutive sessions during the week. The Indian equity markets opened positive due to FIIs inflow in the previous session and falling crude oil prices, but the weak Asian market cues hit the market sentiments today. Indian indexes were volatile and traded in a narrow range today. Going ahead, tomorrow’s markets are likely to trade as per global cues in a small range.
Also read: Best Options Trading Books in India-Must Read 2021
Trade setup for Thursday 31 March 2022- Morning report
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