Nifty & Bank Nifty Prediction for Tomorrow, 2 Nov 2021
Nifty & Bank Nifty Prediction for Tomorrow, 2 Nov 2021: Indian equity markets opened higher amid mixed Asian markets cues. The markets traded near their neutral lines in the first half. Later in the second half indices gained momentum and traded higher on the back of buying in Realty, Metals, IT, and Banking stocks. In the end, almost all major sectors participated in the rally and closed in the green zone today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 1 November (Nov Expiry)
The Nifty futures price opened at 17748, making a positive opening of 32.7 points on Thursday. It has touched an intraday high at 18037.75 and a day’s low at 17730.05
The Nifty futures price has given a movement of 307.7 points today. In the end, it gained 301.70 points or 1.70 percent and ended at the 18017 level.
The Bank Nifty futures opened at 39555. It made a positive opening of 240.55 points today. It has touched an intraday high at 40116 and a day’s low at 39254.15
During the day, the Bank Nifty in futures has given a movement of 861.85 points. In the end, it closed higher by 768.65 points or 1.96 percent and closed at 40083.10 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 2 Nov 2021 (Nov Expiry)
Nifty Futures Prediction for Tomorrow, 2 Nov 2021
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18130 whereas All Down Moves Initiates Short Covering (Buy) @ 17990
If the Nifty futures share price Moves Above 18038 and sustain. Then you should Buy with 1st Target of 18072 during the day with a Stop Loss of 18002 FOR the Target of 18072-18122- 18147
If the Nifty futures share price Moves Below 17978 and is sustained. Then you should Sell with the 1st Target of 17945 during the day with a Stop Loss of 17997. FOR the Target of 17945- 17908- 17875
Bank Nifty Futures Predictions for Tomorrow, 2 Nov 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40550, whereas All Down Moves Initiates Short Covering (Buy) @ 39850
Suppose the Bank Nifty futures Moves Above 40140 and sustain, then you should Buy with the 1st Target of 40370 during the day with a Stop Loss of 39910. FOR the Target of 40370 – 40550 – 40750
If the Bank Nifty futures Moves Below 39750 and sustain, then you should Sell with the 1st Target of 39640 during the day with a Stop Loss of 39875. FOR the Target of 39640 – 39525 – 39430
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Global markets today
On the global front, Asian markets closed mixed as investors avoided big bets ahead of the Federal Reserve’s monetary policy meeting outcome expected later this week. European markets are trading higher after economic growth in the eurozone improved in the third quarter, underpinned by the strong performance of France, while Germany lagged behind amid supply bottlenecks. The US future Indexes, Dow Jones and Nasdaq futures are trading higher at this moment, indicating a positive opening for the US markets.
Conclusions
Indian stock markets closed in the positive notes on Monday. The markets gained with the support of positive global cues and strong PMI data. The Auto sales number and Goods and services tax (GST) collection data also boosted market sentiments today. Almost all sectoral indices participated in today’s rally led by Metals, Realty, IT, and Banking. The broader markets also gained in line with their larger peers.
Going ahead, Nifty needs to close above 18100-18150 levels for further upside. Traders need to trade cautiously in the coming two days ahead of the FOMC meeting outcome on 3 November.
Also read, Best Options Trading Books in India-Must Read 2021
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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