Nifty and Bank Nifty Prediction for Tomorrow 6 Dec 2022
Nifty and Bank Nifty Prediction for Tomorrow 6 Dec 2022: Indian equity markets ended flat amid volatility on Monday. The domestic markets traded below their neutral lines due to a rise in crude oil prices. Some cautiousness was also witnessed, as the Monetary Policy Committee started the 3-day meeting today and the outcome is due on Wednesday. However, the downside remained capped, as India’s Services PMI rose by 56.4 in November from 55.1 in October.
Among the sectors, Metals, PSU Banks, and Realty were in demand while profit booking was seen in the IT, Pharma, and Oil and Gas sectors. The broader markets outperformed the benchmark today, as Nifty mid and smallcap indexes gained 0.25 percent and 0.43 percent respectively. At the close, Nifty gained 0.03 percent while Sensex was down by 0.05 percent today. You can read detailed market updates here.
Nifty and Bank Nifty futures price movement for 5 Dec (Dec Expiry)
The Nifty futures price opened at 18798.90 making a negative opening of 13.65 points today. It has touched an intraday high of 18856.40 and a day’s low of 18710.45
The Nifty futures price has given a movement of 145.95 points today. In the end, it closed higher by 8.70 points or 0.05 percent and ended at 18821.25 levels.
The Bank Nifty futures opened at 43412.35 It made a positive opening of 76.35 points. The Bank Nifty futures touched an intraday high at 43574.75 and a day’s low at 43211.05
During the day, the Bank Nifty futures have given a movement of 363.7 points. In the end, it closed higher by 226.10 points or 0.52 percent and closed at 43562.10 levels.
Nifty & Bank Nifty Prediction for Tomorrow 6 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Tomorrow 6 Dec 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18900 whereas All Down Moves Initiates Short Covering (Buy) @ 18750
If the Nifty futures (Dec Series) share price Moves Above 18858 and sustains. Then you should Buy with 1st Target of 18895 during the day with a Stop Loss of 18815 FOR the Target of 18895- 18932- 18974
If the Nifty futures (Dec Series) share price Moves Below 18765 and is sustained. Then you should Sell with the 1st Target of 18732 for the day with a Stop Loss of 18796. For the Target of 18732- 18700- 18645
If you want Live Trading calls for Nifty, Bank Nifty, Stocks Futures & Options, and Global/Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Bank Nifty Futures Prediction for Tomorrow 6 Dec 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43800 whereas All Down Moves Initiates Short Covering (Buy) @ 43400
Suppose the Bank Nifty futures (Dec Series) Moves Above 43605 and sustain, then you should Buy with the 1st Target of 43710 during the day with a Stop Loss of 43500 and the Target of 43710- 43800 – 43880
If the Bank Nifty futures (Dec Series) Moves Below 43380 and sustain, then you should Sell with the 1st Target of 43285 the day with a Stop Loss of 43460. For the Target of 43285- 43165- 43060
Join Live Options League – Three Days of invaluable insights, strategies, and tips … plus Options knowledge that you need to succeed. Click here to know more
Global Stock Market Updates
On the global front, the other Asian market indexes closed higher and started the week in an optimistic mode as China announced rolling back outfits strict covid restrictions. This gives hope to investors for a brighter outlook for global growth and commodity demand. Nikkei closed slightly higher, led by its heavyweight technology stocks. Hang Seng and Shanghai gained the most among all major indexes
European stock market indexes are mostly trading in the red on Monday as the Eurozone business activity declined for a fifth month in November. According to the survey, the data showed that the economy was sliding into a mild recession as consumers cut spending amid surging inflation. The US future indexes, Dow and Nasdaq futures are trading slightly lower, indicating a negative opening for the US markets today.
Conclusion
Traders remain cautious today ahead of the RBI monetary policy outcome on Wednesday. The rising crude oil prices also hit the market sentiments today but the positive Services activity data supported the markets from the downside. Going ahead, the RBI policy outcome will set the market direction, traders should remain cautious. You can also follow our Daily Morning Report for the market direction.
Also, read Stock Market Prediction Next Week (5-9 Dec 2022)
If you like the post “Nifty and Bank Nifty Prediction for Tomorrow 6 Dec 2022” please share it with others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI-registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
