Nifty and Bank Nifty Prediction for Tomorrow 3 Nov 2022

 

Nifty and Bank Nifty Prediction for Tomorrow 3 Nov 2022: Indian equity markets ended the volatile session on Wednesday with modest losses, snapping a four-day winning streak. The market sentiments were negative and traders were cautious ahead of the US Fed policy outcome, which is due later in the day. 

Among the sectors, Media, Metals, and Pharma saw some buying interest while some selling pressure was seen in PSU Bank, Realty, and Auto sectors. The market breadth was positive, the broader markets also closed marginally lower in line with their larger peers. At the close, Sensex and Nifty ended slightly lower by 0.35 percent and 0.34 percent respectively. You can read detailed market updates here

 

Nifty and Bank Nifty futures price movement for Nov 2 (Nov Expiry)

 

The Nifty futures price opened at 18227, making a positive opening of 15.8 points today. It has touched an intraday high of 18229.45 and a day’s low of 18117.05

The Nifty futures price has given a movement of 112.4 points today. In the end, it closed lower by 68.60 points or 0.38 percent and ended at 18142.60 levels.

The Bank Nifty futures opened at 41580 It made a positive opening of 102.7 points. The Bank Nifty futures has touched an intraday high at 41598.30 and a day’s low at 41232.50

During the day, the Bank Nifty futures have given a movement of 365.8 points. In the end, it closed lower by 206.25 points or 0.50 percent and closed at 41271.05 levels.

 

Nifty & Bank Nifty Prediction for Tomorrow 3 Nov 2022 (Nov Expiry)

 

 

Nifty Futures Prediction for Tomorrow 3 Nov 2022

 

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18250 whereas All Down Moves Initiates Short Covering (Buy) @ 17950

If the Nifty futures (Nov Series) share price Moves Above 18186 and sustains. Then you should Buy with 1st Target of 18213 during the day with a Stop Loss of 18150 FOR the Target of 18213- 18241- 18295- 18334

If the Nifty futures (Nov Series) share price Moves Below 18100 and is sustained. Then you should Sell with the 1st Target of 18052 for the day with a Stop Loss of 18135. For the Target of 18052- 18018- 17982- 17950

 

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Bank Nifty Futures Prediction for Tomorrow 3 Nov 2022

 

Primary Trend of  Bank Nifty Futures: Mild Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41750 whereas All Down Moves Initiates Short Covering (Buy) @ 40850

Suppose the Bank Nifty futures (Nov Series) Moves Above 41400 and sustain, then you should Buy with the 1st Target of 41515 during the day with a Stop Loss of  41260 and the Target of 41515- 41605- 41680 – 41820

If the Bank Nifty futures (Nov Series) Moves Below 41115 and sustain, then you should Sell with the 1st Target of 41000 the day with a Stop Loss of 41215. For the Target of  41000- 40870- 40690- 40500

 

Global Stock Markets Today 

 

The other Asian stock markets closed mostly higher on Wednesday with hopes that the US central bank would slow down its aggressive interest rate hikes in its next meeting. Japan’s Nikkei index ended marginally lower as traders were more cautious about the looming Federal Reserve interest rate hike decision that should also give clues on the US’s future policy path.

Shanghai and Heng Seng gained as sentiments were boosted due to talks on easing China’s zero-covid strategy and opening up the world’s second-largest economy.

European stock market indexes opened higher on Wednesday and are swinging on both sides of their neutral lines in a narrow range. The US future indexes, Dow Jones and Nasdaq futures are trading flat ahead of the Fed’s policy outcome.

 

Conclusion

 

Indian equity markets ended with minor cuts on Wednesday. Investors preferred to stay away from the markets ahead of the US Fed’s policy outcome. Though the market has already priced in a 75 basis point hike in today’s meeting, traders should closely monitor the commentary to get clues about the pace of future rate hikes.

 

 Also, read    Tradingview India Review 2022- You Must Read 

                     Best Options Trading Books in India-Must Read 2022       

 

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Editor’s Desk

 

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