Nifty and Bank Nifty Prediction for tomorrow 1 Dec 2022
Nifty and Bank Nifty Prediction for tomorrow 1 Dec 2022: The domestic equity benchmarks ended higher on Wednesday for the seventh consecutive session amid positive cues from the global markets. The markets traded above their neutral lines but remained cautious ahead of the second quarter GDP data and the Fed Chair Powell’s speech which are due later in the day. Barring PSU Banks all other sectoral indices closed in the green today led by Metals, Auto Realty, and FMCG.
The market breadth was positive today. The broader markets closed higher, Nifty midcap index outperformed the benchmarks while smallcap index closed in line with its larger peers. At the close, the Sensex and Nifty gained 0.67 percent and 0.75 percent respectively. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for Nov 30 (Dec Expiry)
The Nifty futures price opened at 18736 making a slightly positive opening of 2.4 points today. It has touched an intraday high of 18905.05 and a day’s low of 18721.20
The Nifty futures price has given a movement of 183.85 points today. In the end, it closed higher by 156.40 points or 0.83 percent and ended at 18890 levels.
The Bank Nifty futures opened at 43344 It made a positive opening of 50.25 points. The Bank Nifty futures touched an intraday high at 43525 and a day’s low at 43152.75
During the day, the Bank Nifty futures have given a movement of 372.25 points. In the end, it closed higher by 203.25 points or 0.47 percent and closed at 43497 levels.
Nifty & Bank Nifty Prediction for Tomorrow 1 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Tomorrow 1 Dec 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18950 whereas All Down Moves Initiates Short Covering (Buy) @ 18750
If the Nifty futures (Dec Series) share price Moves Above 18912 and sustains. Then you should Buy with 1st Target of 18932 during the day with a Stop Loss of 18880 FOR the Target of 18932- 18954- 18980
If the Nifty futures (Dec Series) share price Moves Below 18830 and is sustained. Then you should Sell with the 1st Target of 18802 for the day with a Stop Loss of 18858. For the Target of 18802- 18770- 18738
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 1 Dec 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43800 whereas All Down Moves Initiates Short Covering (Buy) @ 43300
Suppose the Bank Nifty futures (Dec Series) Moves Above 43600 and sustain, then you should Buy with the 1st Target of 43725 during the day with a Stop Loss of 43525 and the Target of 43725- 43810 – 43930
If the Bank Nifty futures (Dec Series) Moves Below 43380 and sustain, then you should Sell with the 1st Target of 43285 the day with a Stop Loss of 43570. For the Target of 43285- 43165- 43090
Global Stock Market Updates
Asian stock market indexes were lifted on the hopes of a vaccination rollout and more economic support from Beijing. The upside remained capped due to poor factory data in Japan and China. The Nikkei index closed lower for the fourth straight session today, as Japan’s factory output fell for the second consecutive month in October. Shanghai closed slightly higher while Hang Seng was up more than 2 percent at the close.
European stock market indexes are trading higher at 5 pm IST, following the positive session in Asia despite disappointing economic data. Investors eyed Fed Chair Jerome Powell’s speech which is due later in the day. The US future indexes, Dow Jones and Nasdaq futures are trading marginally higher at this time indicating a positive opening for the US markets today.
Conclusion
Indian markets closed with decent gains today. Investors were cautious ahead of the Q2 GDP data and US Fed Chair Powell’s speech. The Q2 GDP number was reported at 6.3% which is in line with expectations. Indian markets are likely to react positively to the GDP growth data. You can also follow our Daily Morning Report at 7.30 am for the market direction
Also, read Stock Market Prediction Next Week (28 Nov- 2 Dec 2022)
Tradingview India Review 2022- You Must Read
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 1 Dec 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.
