Nifty and Bank Nifty Prediction for Tomorrow 1 Nov 2022
Nifty and Bank Nifty Prediction for Tomorrow 1 Nov 2022: Indian equity benchmarks ended with strong gains on Monday amid positive global cues. The sentiments were optimistic due to falling crude oil prices and FII’s inflow, as Foreign investors were buyers on the 28th Oct Friday. The domestic indices were closed near the day high today.
All sectoral indices were closed in the green today, led by Consumer Durable, IT, Auto, Energy, and Financial Services. The market breadth was quite strong today. Broader markets also closed higher today. At the close, Nifty and Sensex gained 1.27 percent and 1.31 percent respectively. You can read detailed market updates here
Nifty and Bank Nifty futures price movement for 31 Oct (Oct Expiry)
The Nifty futures price opened at 17948, making a positive opening of 117.8 points today. It has touched an intraday high of 18061.75 and a day’s low of 17926.10
The Nifty futures price has given a movement of 135.65 points today. In the end, it closed higher by 224.70 points or 1.26 percent and ended at 18054.90 levels.
The Bank Nifty futures opened at 41399 It made a positive opening of 249.55 points. The Bank Nifty futures has touched an intraday high at 41522.10 and a day’s low at 41270
During the day, the Bank Nifty futures have given a movement of 252.1 points. In the end, it closed higher by 309.55 points or 0.75 percent and closed at 41459 levels.
Nifty & Bank Nifty Prediction for Tomorrow 1 Nov 2022 (Nov Expiry)
Nifty Futures Prediction for Tomorrow 1 Nov 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18150 whereas All Down Moves Initiates Short Covering (Buy) @ 17950
If the Nifty futures ( Nov Series) share price Moves Above 18085 and sustains. Then you should Buy with 1st Target of 18122 during the day with a Stop Loss of 18052 FOR the Target of 18122- 18149- 18195- 18217
If the Nifty futures ( Nov Series) share price Moves Below 18015 and is sustained. Then you should Sell with the 1st Target of 17985 for the day with a Stop Loss of 18038. For the Target of 17985- 17955- 17922- 17875
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Bank Nifty Futures Prediction for Tomorrow 1 Nov 2022
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41700 whereas All Down Moves Initiates Short Covering (Buy) @ 41100
Suppose the Bank Nifty futures (Nov Series) Moves Above 41570 and sustain, then you should Buy with the 1st Target of 41640 during the day with a Stop Loss of 41400 and the Target of 41640- 41715- 41810 – 41950
If the Bank Nifty futures (Nov Series) Moves Below 41220 and sustain, then you should Sell with the 1st Target of 41100 the day with a Stop Loss of 41355. For the Target of 41100- 40920- 40775- 40570
Global Stock Markets Today
On the global front, the other Asian stock market indexes mostly closed in the green, following the positive cues from the US markets on Friday. Japan’s Nikkei closed higher as the electrical appliances sector rose 2.78%, and technology shares took the lead today. While China’s Shanghai and Hang Seng ended lower, as weak factory activity data and fresh Covid outbreaks compounded China’s growth fears
European stock market key indexes are trading marginally higher on Monday. European key indexes are swinging at a narrow range today, as investors are cautious ahead of the interest rate decision by the US Fed and BoE. The US Dow and Nasdaq futures are trading marginally lower at 5 pm IST, indicating a negative opening for the US markets today.
Conclusion
The Indian equity benchmarks ended higher for the third consecutive day today. The Nifty reclaims 18000 marks and indexes end near the day’s high. As mentioned in our weekly report Nifty has given a fresh breakout, and we may see a further up move now, but traders should remain cautious as the Fed interest rate decision is due on 2nd November.
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