Nifty and Bank Nifty Prediction for Tomorrow, 29 November 2023
Nifty and Bank Nifty Prediction for Tomorrow, 29 November 2023: Indian equity benchmarks ended with moderate gains on Tuesday, snapping a two-day losing streak. The domestic markets opened higher despite weak global cues and ended with moderate gains after a late rally on Dalal Street.
Among the sectors, oil & gas, metals, and PSU Banks were in demand while some selling pressure was witnessed in the pharma and FMCG counter. The market breadth was positive, on the NSE, 1317 shares were advanced, while 1195 shares declined at the close. The NSE volatility index “India VIX” jumped to 7.45% to 12.18.
The broader markets closed higher in line with their larger peers, as Nifty mid and smallcap indexes gained 0.54% and 0.30% respectively. At the close, Sensex and Nifty ended higher by 0.30% and 0.48% respectively, and settled at 66174.21 and 19889.70 respectively. You can read the detailed market updates here.
Nifty and Bank Nifty Futures Price Movement for (30 Nov expiry)
The Nifty futures price opened at 19889.95, making a positive opening of 63 points on Tuesday. It has touched an intraday high of 19955 and a day’s low of 19827.90
The Nifty futures price has given a movement of 127.10 points during the day. In the end, it closed higher by 126.05 points or 0.64 percent and ended at 19953 levels.
The Bank Nifty futures opened at 43867.95. It made a positive opening of 62.4 points on Tuesday. The Bank Nifty futures touched an intraday high at 44048.40 and a day’s low at 43791.10
During the day, the Bank Nifty futures have given a movement of 257.3 points. In the end, Bank Nifty Futures closed higher by 200.40 points or 0.46 percent and closed at 44005.95 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 29 Nov 2023
Nifty Futures Prediction for Tomorrow, 29 Nov 2023
Primary Trend in Nifty Futures: Positive
Range-Bound Trend: All up Moves can initiate profit Booking @ 20050 whereas All Down Moves can Initiate Short Covering @ 19930
If the Nifty futures for the November Series move above 19980 and sustain. Then the index can trade in a range of 20012- 20036- 20076 levels during the day.
If the Nifty futures share price moves below 19914 and is sustained. Then the index futures can trade in a range of 19875- 19854- 19820 levels during the day.
If you want Live Market Updates, Views for Nifty & Bank Nifty, Stocks, and Global/Domestic market happenings then join our WhatsApp Channel here or our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow, 29 Nov 2023
Primary Trend in Bank Nifty Futures- Mild Negative
Range-Bound Trend of Bank Nifty Future: All up moves can Initiate Profit Booking @ 44250 whereas All down moves can Initiate Short Covering @ 43900.
Suppose the November series Bank Nifty futures move above 44065 and sustain, then the index can trade in the range of 44130- 44240- 44370 levels during the day.
If the Bank Nifty futures (Nov Series) move below 43915 and sustain, then the index can trade in the range of 43840- 43750- 43665 levels during the day.
Note:- With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy Free at Upstox. Click here to Open a Free Trading and Demat Account and get a lifetime Demat AMC Free and Rs 20 flat Brokerage.
Conclusion
After last week’s sideways markets, indices made decent gains on the first trading session of the week. The decline in US Treasury yields and fall in crude oil prices supported the Indian markets. FIIs also turned buyers in the equity cash segments in the last few trading sessions, aiding the market sentiments.
Going ahead, we maintain our positive view of the domestic markets and suggest investors continue with a “buy on dips” approach. You can also follow our Daily Morning Report at 7:30 a.m. for market direction.
Also, read Stock Market Prediction Next Week ( 28 Nov-1 Dec 2023)
Tradingview India Review 2022- You Must Read
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow, 29 November 2023” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution in compiling the data for its Website. The views and investment tips expressed here are by third-party experts and are for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before making 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.
