Nifty and Bank Nifty Prediction for Tomorrow 7 June 2022
Nifty and Bank Nifty Prediction for Tomorrow 7 June 2022: Indian equity markets opened lower on Monday tracking negative cues from Wall Street on Friday. The benchmark indices recovered in the afternoon session but could not sustain at higher levels and closed almost flat to the negative.
Among the sectors, Metals and Oil &Gas tried to lift the market indices but selling pressure was seen Realty and Consumer Durables sectors. The broader markets also closed in the red and smallcap index underperformed today. In the end, the benchmark indices closed slightly lower today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for June 6 (June Expiry)
The Nifty futures price opened at 16550, making a negative opening of 54.65 points. It has touched an intraday high of 16621.75 and a day’s low of 16460
The Nifty futures price has given a movement of 161.75 points today. In the end, it closed lower by 21.55 points or 0.13 percent and ended at 16583.10 levels.
The Bank Nifty futures opened at 35203.30 It made a negative opening of 166.15 points. The Bank Nifty futures has touched an intraday high at 35527 and a day’s low at 35141
During the day, the Bank Nifty futures has given a movement of 386 points. In the end, it closed higher by 45.55 points or 0.13 percent and closed at 35415 levels.
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Nifty & Bank Nifty Prediction for Tomorrow 7 June 2022 ( June Expiry)
Nifty Futures Prediction for Tomorrow 7 June 2022
Primary Nifty Trend in futures: Mild Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16700 whereas All Down Moves Initiates Short Covering (Buy) @ 16400
If the Nifty futures share price Moves Above 16618 and sustain. Then you should Buy with 1st Target of 16649 during the day with a Stop Loss of 16580 FOR the Target of 16649- 16685- 16748- 16788
If the Nifty futures share price Moves Below 16545 and sustain. Then you should Sell with the 1st Target of 16508 for the day with a Stop Loss of 16570. FOR the Target of 16508- 16470- 16427- 16365
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Bank Nifty Futures Prediction for Tomorrow 7 June 2022
Primary Trend of Bank Nifty Futures: Mild Negative with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35600 whereas All Down Moves Initiates Short Covering (Buy) @ 35100
Suppose the Bank Nifty futures Moves Above 35515 and sustain, then you should Buy with the 1st Target of 35605 during the day with a Stop Loss of 35330 the Target of 35605- 35708- 35790- 35925
If the Bank Nifty futures Moves Below 35135 and sustain, then you should Sell with the 1st Target of 34950 the day with a Stop Loss of 35285. FOR the Target of 34950 – 34785 – 34690 – 34570
Global Stock Markets today
On the global front, the other Asian markets were mostly closed in the green on Monday despite China’s service sector contracted for the third straight month in May. Shanghai gained more than 1 percent as the sentiments got boosted by news that the US is reviewing some of its tariffs on Chinese goods plus the easing Covid restriction in the world’s No-1 economy.
European markets are trading higher on the first day of the week as investors look ahead to the European Central Bank meeting and US inflation data later during the week. The US future indexes, Dow Jones and Nasdaq futures are trading higher indicating a positive opening for the US markets today.
Conclusion
Indian stock markets ended lackluster and closed almost flat on Monday. The investors were cautious due to mixed global cues and are ahead of RBI policy and US inflation data, which is expected later this week. Markets may trade volatile this week, investors should remain cautious during the week.
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Stock Market Prediction Next Week (6 – 10 June 2022)
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