Nifty | Bank Nifty Prediction for Tomorrow 1 Feb 2022
Nifty and Bank Nifty Prediction for Tomorrow 1 Feb 2022: Indian equity market indices opened higher on Monday amid positive cues from the global markets. The key benchmark indices extended their early gains on the back of buying in Realty, IT, and PSU Banking stocks. All sectors performed today and closed in the green.
The broader markets also performed in line with their larger peers. In the end, the key indices, Sensex and Nifty closed more than 1% higher today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 31 Jan (Feb Expiry)
The Nifty futures price opened in 17300, making a gap-up opening of 174.35 points. It has touched an intraday high at 17424.95 and a day’s low at 17271
The Nifty futures price has given a movement of 153.95 points today. In the end, it gained 242.10 points or 1.41 percent and ended at 17367.75 levels.
The Bank Nifty futures opened at 38150, It made a gap up opening today, up by 325.7 points. The Bank Nifty futures has touched an intraday high at 38296 and a day’s low at 37757
During the day, the Bank Nifty futures has given a movement of 539 points. In the end, it closed higher by 263.70 points or 0.70 percent and closed at 38088 levels.
Nifty & Bank Nifty Prediction for Tomorrow 1 Feb 2022 (Feb Expiry)
Nifty Futures Prediction and Analysis, 1 Feb 2022
Primary Nifty Trend in futures: Positive & Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17530 whereas All Down Moves Initiates Short Covering (Buy) @ 17200
If the Nifty futures share price Moves Above 17434 and sustain. Then you should Buy with 1st Target of 17484 during the day with a Stop Loss of 17368 FOR the Target of 17484- 17540- 17572 -17618
If the Nifty futures share price Moves Below 17321 and is sustained. Then you should Sell with the 1st Target of 17285 the day with a Stop Loss of 17352. FOR the Target of 17285- 17208- 17160- 17100
Bank Nifty Futures Prediction and Analysis for 1 Feb 2022
Primary Trend of Bank Nifty Futures: Negative & Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38650 whereas All Down Moves Initiates Short Covering (Buy) @ 37700
Suppose the Bank Nifty futures Moves Above 38380 and sustain, then you should Buy with the 1st Target of 38610 during the day with a Stop Loss of 38280 the Target of 38610 – 38745 – 38825- 38960
If the Bank Nifty futures Moves Below 37965 and sustain, then you should Sell with the 1st Target of 37835 during the day with a Stop Loss of 38060. FOR the Target of 37835 – 37700 – 37575- 37495
For Budget 2022 special we will analyze Nifty & Bank Nifty futures live tomorrow 1st Feb 2022. You will be getting live updates and predictions on time to time basis on the Nifty50 & Bank Nifty section of our website. For any support related to Nifty & Bank Nifty trading, you can also send us mail at info@nifty50stocks.com
Global stock markets today
On the global front, Asian markets were closed in the green today tracking positive cues from Wall Street on Friday despite China’s manufacturing growth slows in January. The markets in mainland China and South Korea closed today for the Lunar New Year’s eve.
Japan’s factory output also shrank for the first time in three months in December as a decline in machinery production outweighed a small rise in autos whereas retail sales increased for the 3rd straight month.
European markets are trading higher on Monday taking positive cues from Asian markets and Wall Street on Friday. Investors are now eyeing a key central bank meeting later this week. The US future, Dow and Nasdaq futures are trading mixed, Dow is trading lower whereas Nasdaq is trading marginally higher at 5.30 pm IST.
Conclusion
Indian markets started the week on a strong note with the support of positive global cues and optimistic growth projections in the Economic Survey. Indian market is looking positive, going ahead tomorrow’s Union Budget 2022 will drive the markets later this week. Traders need to remain cautious tomorrow, as markets are expected to remain volatile due to the Budget 2022.
Also read: Stock Market Prediction Next Week (31 Jan – 04 Feb 2022)
Best Options Trading Books in India-Must Read 2021
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