Nifty and Bank Nifty Prediction for Tomorrow 3 Feb 2022: Indian equity market indices opened a gap up on Wednesday as investors were optimistic about the Union Budget FY22-23 and positive global cues. Indian markets extended their early gains with the support of buying in Banking and Financial stocks. The broader markets also gained in line with their larger peers. In the end, the key indices Sensex and Nifty advanced more than 1 percent today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 2 February (Feb Expiry)
The Nifty futures price opened in 17705.25, making a gap-up opening of 116.25 points. It has touched an intraday high in 17809.80 and a day’s low at 17680.05
The Nifty futures price has given a movement of 129.75 points today. In the end, it gained 219.90 points or 1.25 percent and ended at 17808.90 levels.
The Bank Nifty futures opened at 39888.70, It made a gap up opening today, up by 1265.95 points. The Bank Nifty futures has touched an intraday high at 39888.70 and a day’s low at 38877.75
During the day, the Bank Nifty futures has given a movement of 1010.95 points. In the end, it closed higher by 836.25 points or 2.17 percent and closed at 39459 levels.
Nifty & Bank Nifty Prediction for 3 Feb 2022 (Feb Expiry)
Nifty Futures Prediction for 3 Feb 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17940 whereas All Down Moves Initiates Short Covering (Buy) @ 17750
If the Nifty futures share price Moves Above 17836 and sustain. Then you should Buy with 1st Target of 17872 during the day with a Stop Loss of 17815 FOR the Target of 17872- 17904- 17945
If the Nifty futures share price Moves Below 17750 and is sustained. Then you should Sell with the 1st Target of 17724 the day with a Stop Loss of 17775. FOR the Target of 17724- 17670- 17638
Bank Nifty Futures Prediction for 3 Feb 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 40000 whereas All Down Moves Initiates Short Covering (Buy) @ 39350
Suppose the Bank Nifty futures Moves Above 39515 and sustain, then you should Buy with the 1st Target of 39860 during the day with a Stop Loss of 39400 the Target of 39860 – 39970 – 40100
If the Bank Nifty futures Moves Below 39250 and sustain, then you should Sell with the 1st Target of 39165 during the day with a Stop Loss of 39350. FOR the Target of 39165 – 39050 – 38920
Global stock markets today
On the global front, the Asian markets closed in the green with most of the markets like Shanghai, Hang Seng, Kospi, Taiwan were closed for the Lunar New year holidays. The rest of the markets followed positive cues from Wall Street overnight as strong gains were seen in the energy and materials sectors amid higher commodity prices traders. Investors remain cautious as Japan’s biggest lenders on Wednesday sounded alarmed about the risk the Omicron variant could trigger more bad loans.
European markets are trading higher on Wednesday on strong corporate news and ahead of key European and UK central bank meetings on Thursday. The US future indexes, Dow and Nasdaq futures are trading higher at 5 pm IST
Conclusion
Indian markets made a gap-up opening today and continued their upward journey on Wednesday. Markets were gained as traders were optimistic about Budget, positive global cues, and less intensely selling by FIIs yesterday. Nifty closed at 17780 and has got strong resistance at 17800, closing above this level we may see an up move 18000-18200 levels again.
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