Nifty and Bank Nifty Prediction for Tomorrow 6 April 2022
Nifty and Bank Nifty Prediction for Tomorrow 6 April 2022: Indian equity markets opened slightly higher on Tuesday amid positive cues from the global markets. The equity benchmarks immediately turned red and traded volatile throughout the day. The domestic market sentiments were subdued as the crude oil prices were trading higher and on supply concerns.
Investors preferred to book profit in Financial and Banking stocks after a sharp rally in the previous session. The broader markets outperformed today as compared to the benchmark indices. In the end, the key indices Sensex and Nifty closed lower today. You can read the detailed market happening, top gainers, and losers here.
Nifty and Nifty Bank futures price movement for 5 April (April Expiry)
The Nifty futures price opened at 18161.10, making a positive opening of 62.9 points. It has touched an intraday high of 18173.80 and a day’s low of 17990.10
The Nifty futures price has given a movement of 183.7 points today. In the end, it closed lower by 101.85 points or 0.56 percent and ended at 17996.35 levels.
The Bank Nifty futures opened at 38750, It made a positive opening of 99.95. points. The Bank Nifty futures has touched an intraday high at 38780 and a day’s low at 38010
During the day, the Bank Nifty futures has given a movement of 770 points. In the end, it closed lower by 630.15 points or 1.63 percent and closed at 38019.90 levels.
Nifty & Bank Nifty Prediction for Tomorrow 6 April 2022 (April Expiry)
Nifty Futures Prediction for Tomorrow 6 April 2022
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18100 whereas All Down Moves Initiates Short Covering (Buy) @ 17900
If the Nifty futures share price Moves Above 18060 and sustain. Then you should Buy with 1st Target of 18090 during the day with a Stop Loss of 18028 FOR the Target of 18090- 18124 – 18171- 18215
If the Nifty futures share price Moves Below 17970 and is sustained. Then you should Sell with the 1st Target of 17915 for the day with a Stop Loss of 17996. FOR the Target of 17915-17895- 17865- 17830
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Bank Nifty Futures Prediction for Tomorrow 6 April 2022
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38300 whereas All Down Moves Initiates Short Covering (Buy) @37750
Suppose the Bank Nifty futures Moves Above 38230 and sustain, then you should Buy with the 1st Target of 38315 during the day with a Stop Loss of 38115 the Target of 38315- 38430- 38545- 38660
If the Bank Nifty futures Moves Below 37915 and sustain, then you should Sell with the 1st Target of 37771 the day with a Stop Loss of 38050. FOR the Target of 37771 – 37667 – 37550- 37470
Global Stock Markets today
On the global front, the majority of Asian market indexes closed higher on Tuesday. Shanghai, Hang Seng, and Taiwan were not trading today due to a holiday. Asian market indexes gained tracking the positive cues from Wall Street despite rising crude oil prices. Investors are now closely monitoring the moves of Western countries against Russia after claims of war crimes in Ukraine. Tokyo’s blue-chip shares ended higher on Tuesday, driven by buying of technology shares.
European markets are trading lower on Tuesday due to the rise in crude oil prices. France’s CAC is trading more than 1 percent down as political risk hit the market sentiments and banking stocks suffered the losses. The US future indexes, Dow, and Nasdaq futures are trading marginally lower at this moment at 5.30 pm IST.
Conclusion
After two days of a sharp rally, Indian markets closed in the red on Tuesday due to profit booking at higher levels on banking and financial stocks. The local markets might consolidate for some time ahead of the RBI meeting which is due later this week. Going ahead, the market will have Service PMI data tomorrow during the market.
Also read: Best Options Trading Books in India-Must Read 2021
Trade setup for Tuesday 5 April 2022- Latest Market News
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