Nifty Bank Futures prediction for tomorrow 2 March
Nifty & Nifty Bank futures gained more than 1% today, trading view for tomorrow 2 March
Nifty & Nifty Bank futures for 2 March: Indian equity markets made an optimistic opening as data showed that India’s economy returned to growth in the December quarter. The positive Asian market cues and progress in the US stimulus package also helped the domestic markets to trade higher today. In the end, the benchmark indices closed on a strong note today.
The market sentiments remained up-beat as data released by the Ministry for Commerce and Industry showed that the core sector index, which measures the output of eight infrastructure industries, rose marginally by 0.1% in January. Indicating a recovery from the coronavirus pandemic shock. The output in five of the eight crucial sectors fell on a YoY basis. Traders took note of Indian February Manufacturing PMI data that released in the morning fell marginally to 57.5 from 57.7 in January.
Adding to the optimism, the Finance Ministry said the Q3 GDP growth shows that the economy has returned to pre-pandemic times and reflects the further strengthening of a V-Shaped recovery. It also said the initial policy choice of ‘lives over livelihoods’ succeeded by lives as well as livelihoods’ is now bearing positive results converging with the foresight the government had about an imminent V-shaped recovery.
On the global front, Asia’s markets were closed strong today as some calmness returned to the bond markets after last week’s wild ride. China’s official manufacturing PMI missed its forecast while Japanese PMI numbers showed the fastest growth in two years. The European markets are trading higher as the bond markets stabilize. The US market indices Dow and Nasdaq futures are trading strong today.
Stock Market indices today: Sensex, Nifty, and Nifty Bank on the spot price
At the close, Nifty gained 232.40 points or 1.60%, and at 14761.85 while Sensex was up by 749.85 points or 1.53% and closed at 49849.84 levels. Nifty Bank on the spot price jumped 492.40 points or 1.41% and ended at 35296 levels.
The Nifty midcap and smallcap 100 also made a strong gain today. The nifty midcap index gained 416.30 points or 1.79% and at 23684.80 levels. The smallcap index closed higher by 166.85 points or 2.06% and closed at 8216.55 levels.
The top five gainers in the Nifty50 index were Power Grid, ONGC, Grasim, UPL, and Shree Cements. There is only one loser in the Nifty50 index today, Bharti Airtel. The most active stocks in the Nifty50 index today were Bharti Airtel, Tata Motors, and Reliance.
On the sectoral front, barring Telecom all other major sectors closed in the green today. The top gaining sectors for the day were Automobiles, Banks, Capital Goods, Metals, Infrastructures, and IT & Software.
Nifty & Nifty Bank futures price today
The Nifty futures share price opened at 14709.95 made a gap up opening of 131.5 points. It has touched an intraday high at 14839.45 and a day’s low at 14658.50
The Nifty futures share price has given a movement of 180.95 points. In the end, it gained 241.05 points or 1.65 %, and closed at 14819.50 levels.
The Nifty Bank futures share price opened at 35350 It made a positive opening of 479.65 points today. It has touched an intraday high at 35615 and a day’s low at 34983.05
During the day, the Nifty Bank futures share price has given a movement of 631.95 points. In the end, it gained by 499.65 points or 1.43% and closed at 35370 levels.
Now get a 10X intraday margin in equity trading Contact us to know more
Nifty and Nifty Bank futures prediction for tomorrow 2 March ( March Expiry)
Nifty futures prediction for tomorrow 2 March 2021
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14900 whereas All Down Moves Initiates Short Covering (Buy) @ 14750
If the Nifty futures share price Moves Above 14832 and sustain. Then you should Buy with 1st Target of 14890 during the day with a Stop Loss of 14770 FOR the Target of 14890-14916- 14942
If the Nifty futures share price Moves Below 14770 and sustain. Then you should Sell with the 1st Target of 14738 during the day with a Stop Loss of 14832. FOR the Target of 14738- 14705-14655
Nifty Bank futures prediction for tomorrow 2 March 2021
Primary Trend of Nifty Bank Futures: Mild Positive
Range-Bound Trend of Nifty Bank Future: All up Moves Initiates Profit Booking (Sale) @ 35650, whereas All Down Moves Initiates Short Covering (Buy) @ 35000
Suppose Nifty Bank futures share price Moves Above 35520 and sustain. Then you should Buy with the 1st Target of 35660 during the day with a Stop Loss of 35160. FOR the Target of 35660 – 35780- 35956
If the Nifty Bank futures share price Moves Below 35160 and sustained. Then you should Sell with the 1st Target of 35030 during the day with a Stop Loss of 35520. FOR the Target of 35030 – 34860- 34690
Conclusions:
Indian stock market bounced back today with strong gains. Nifty closed above 14750 levels is a positive sign for the market. The positive global cues and GDP growth have supported the market to trade higher today.
Going ahead market would react to the global market cues in the absence of any major domestic trigger. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Nifty Bank futures share price target in futures for 2 March 2021.
Also read, Nifty & Bank Nifty futures || Dalal Street week ahead
Intraday Trading books to make money from Stock Markets
If you like the post please share it with your friends and 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 not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and 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 and 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.
