Nifty and Bank Nifty Prediction for Tomorrow 4 Feb 2022
Nifty and Bank Nifty Prediction for Tomorrow 4 Feb 2022: Indian equity markets open marginally lower on Thursday amid mixed global cues. The markets later extended their early losses and closed more than 1 percent lower. The key indices fell sharply on the back of selling in the IT, Realty, and Financial Services stocks. The broader markets also fell today in line with their larger peers. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 3 February (Feb Expiry)
The Nifty futures price opened in 17780.05, making a negative opening of 15.85 points. It has touched an intraday high in 17784 and a day’s low at 17500
The Nifty futures price has given a movement of 284 points today. In the end, it declined 288.90 points or 1.62 percent and ended at 17507 levels.
The Bank Nifty futures opened at 39401.05, It made a negative opening of 36.05 points. The Bank Nifty futures has touched an intraday high at 39540 and a day’s low at 38920
During the day, the Bank Nifty futures has given a movement of 620 points. In the end, it closed lower by 517.10 points or 1.31 percent and closed at 38920 levels.
Nifty & Bank Nifty Prediction for 4 Feb 2022 (Feb Expiry)
Nifty Futures Prediction for 4 Feb 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17550 whereas All Down Moves Initiates Short Covering (Buy) @ 17400
If the Nifty futures share price Moves Above 17554 and sustain. Then you should Buy with 1st Target of 17595 during the day with a Stop Loss of 17522 FOR the Target of 17595- 17632- 17665
If the Nifty futures share price Moves Below 17485 and is sustained. Then you should Sell with the 1st Target of 17450 the day with a Stop Loss of 17505. FOR the Target of 17450- 17412- 17386
Bank Nifty Futures Prediction for 4 Feb 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39100 whereas All Down Moves Initiates Short Covering (Buy) @ 38700
Suppose the Bank Nifty futures Moves Above 39095 and sustain, then you should Buy with the 1st Target of 39170 during the day with a Stop Loss of 38970 the Target of 39170 – 39290 – 39470
If the Bank Nifty futures Moves Below 38800 and sustain, then you should Sell with the 1st Target of 38650 during the day with a Stop Loss of 38925. FOR the Target of 38650 – 38550 – 38430
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Global stock markets today
On the global front, the Asian markets closed mixed on Thursday due to profit-booking. Japan’s Nikkei index was down more than 1 percent due to the slowdown in service sectors. Traders were also concerned ahead of key central bank policies in Europe.
European markets are trading lower as investors eyed policy announcements from the Bank of England and European Central Bank. The US future indexes, Dow and Nasdaq futures are trading lower at this time at 5 pm IST.
Conclusion
Indian stock market indexes witnessed profit booking after a three-day rally due to cautiousness and weakness in global markets. The domestic markets turned bearish as the US features were under pressure due to weak earnings from Meta (Facebook). The investors preferred to book profit in anticipation of monetary policy tightening by European Central Banks and BOE.
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