Nifty | Bank Nifty Prediction for Tomorrow, 6 October 2021
Nifty and Bank Nifty Prediction for Tomorrow, 6 October 2021: Indian stock markets opened in the red on Tuesday amid negative cues from the global market peers. The benchmark indices erased all losses and bounced back in the afternoon session on the back of buying in Oil & Gas, Power, and IT stocks. At the close, the market indices closed in the positive territory. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 5 October (Oct Expiry)
The Nifty futures price opened at 17645 and made a negative opening of 61.25 points. It has touched an intraday high at 17840 and a day’s low at 17631
The Nifty futures price has given a movement of 209 points today. In the end, it gained by 130.80 points or 0.74 percent and ended at 17837.05 levels.
The Bank Nifty futures opened at 37600. It made a negative opening of 135.25 points today. It has touched an intraday high at 37912 and a day’s low at 37472.15
During the day, the Bank Nifty in futures has given a movement of 439.85 points. In the end, it closed higher by 131 points or 0.35 percent and closed at 37866.25 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 6 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 6 Oct 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17900 whereas All Down Moves Initiates Short Covering (Buy) @ 17730
If the Nifty futures share price Moves Above 17852 and sustain. Then you should Buy with 1st Target of 17870 during the day with a Stop Loss of 17822 FOR the Target of 17870-17902- 17926
If the Nifty futures share price Moves Below 17770 and is sustained. Then you should Sell with the 1st Target of 17728 during the day with a Stop Loss of 17797. FOR the Target of 17728- 17702-17677
Bank Nifty Futures Predictions for Tomorrow, 6 Oct 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38000, whereas All Down Moves Initiates Short Covering (Buy) @ 37700
Suppose the Bank Nifty futures Moves Above 37935 and sustain, then you should Buy with the 1st Target of 38020 during the day with a Stop Loss of 37835. FOR the Target of 38020 – 38130 – 38285
If the Bank Nifty futures Moves Below 37730 and sustain, then you should Sell with the 1st Target of 37585 during the day with a Stop Loss of 37795. FOR the Target of 37585 – 37470 – 37380
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Global markets today
On the global front, the Asian markets mostly closed in the red tracking negative cues from Wall Street overnight. Traders are concerned that the regulatory crackdown and a collapse at Evergrande could hurt the economic growth of china and could drag the global growth too. The market mood also remained cautious due to surging crude oil prices in the region. China remains closed for the National Day holiday today.
European indexes are trading higher despite tech fuelled sell-off overnight on Wall Street due to support from the Bank stocks and a positive earnings update from German chipmaker Infineon. The US futures, Dow, and Nasdaq futures are trading higher after yesterday’s selloff.
Conclusions
Indian markets closed higher for the second consecutive day today despite negative global cues. Markets gained with the support of heavy buying witnessed in the oil & gas and power sectors. Indian Markets are looking strong at this moment and Nifty is expected to regain its 17900 levels soon.
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