Nifty and Bank Nifty Prediction for Tomorrow 31 May 2022
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Nifty and Bank Nifty Prediction for Tomorrow 31 May 2022: Indian equity markets opened higher on Monday amid positive global cues. The benchmark indices extended their early gains on the back of buying in across all sectoral indices led by the Realty, IT, and PSU Banking space. The broader markets outperformed the benchmark indices as Nifty midcap and smallcap indexes gained by 2.42 percent and 3.08 percent respectively.
In the end, the key indices Sensex and Nifty closed strong, nearly 2 percent higher on the first day of the week. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 30 May (May Expiry)
The Nifty futures price opened at 16461.05, making a positive opening of 148.2 points. It has touched an intraday high of 16674 and a day’s low of 16461.05
The Nifty futures price has given a movement of 212.95 points today. In the end, it closed higher by 324.30 points or 1.99 percent and ended at 16651.20 levels.
The Bank Nifty futures opened at 35976 It made a positive opening of 344.3 points. The Bank Nifty futures has touched an intraday high at 36132.75 and a day’s low at 35791
During the day, the Bank Nifty futures has given a movement of 341.75 points. In the end, it closed higher by 257.30 points or 0.72 percent and closed at 35889 levels.
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Nifty & Bank Nifty Prediction for Tomorrow 31 May 2022 (June Expiry)
Nifty Futures Prediction for Tomorrow 31 May 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16850 whereas All Down Moves Initiates Short Covering (Buy) @ 16625
If the Nifty futures share price Moves Above 16721 and sustain. Then you should Buy with 1st Target of 16750 during the day with a Stop Loss of 16690. FOR the Target of 16750- 16785- 16818- 16847
If the Nifty futures share price Moves Below 16590 and is sustained. Then you should Sell with the 1st Target of 16556 for the day with a Stop Loss of 16624. FOR the Target of 16556- 16502- 15451- 15417
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Bank Nifty Futures Prediction for Tomorrow 31 May 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36400 whereas All Down Moves Initiates Short Covering (Buy) @ 35700
Suppose the Bank Nifty futures Moves Above 36065 and sustain, then you should Buy with the 1st Target of 36140 during the day with a Stop Loss of 35935. For the Target of 36140- 36265- 36406- 36545
If the Bank Nifty futures Moves Below 35775 and sustain, then you should Sell with the 1st Target of 35625 the day with a Stop Loss of 35905. FOR the Target of 35625 – 35515 – 35395 – 35180
Global Stock Markets today
On the global front, the other Asian stock market indexes closed higher on Monday, as investors looked ahead to a busy week for economic data. The market sentiments were upbeat as authorities in Shanghai and Beijing have announced to ease the city’s two-month Covid-19 lockdown by lifting unreasonable restrictions.
European markets are trading higher taking positive cues from their Asian peers and on positive corporate news. The US markets are closed today on account of Memorial Day.
Conclusion
Indian stock markets rose for the third consecutive day today, tracking positive cues from Wall Street on Friday and on the news of China’s easing covid restriction gradually in both Shanghai and Beijing. The timely arrival of the monsoon in Kerala has also supported the market sentiments today. Technically Indian markets are looking positive now. Going ahead, the economic data due later during the week will set the market directions.
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Stock Market Prediction Next Week (30 May- 3 June 2022)
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