Nifty & Bank Nifty futures prediction for 6 August 2021
Nifty and Bank Nifty futures prediction for tomorrow, 6 August 2021: Indian stock markets opened positive on Thursday and then immediately turned negative in the morning session. Later, the market erased all intraday losses and turned positive again in the afternoon session. Both Sensex and Nifty traded above 54500 and 16300 levels respectively in the post-lunch session and closed marginally higher today.
The market sentiments were positive as Rajya Sabha passed the Limited Liability Partnership ( LLP Amendment) Bill, which seeks to encourage the start-up ecosystem and further boost ease of doing business amid uproar by the opposition on Pegasus snooping row and other issues. Traders took support with the report that foreign portfolio investors (FPIs) stood buyers in the domestic cash market for the last two days and net buyers in the month of August to the tune of Rs 3405.29 crore
Today’s market update: Sensex, Nifty, and Bank Nifty spot price
Finally, Nifty gained 35.80 points or 0.23 percent and closed at 16294.60 while Sensex was up by 123.07 points or 0.23 percent and finished at 54492.84 levels. The Bank Nifty spot price declined 193.30 points or 0.53 percent and ended at 35834.75 levels.
The midcap index closed flat whereas smallcap index continued to perform lower for the last two days. The Nifty midcap index gained just 1.75 points and closed at 27929.75 levels. The Nifty smallcap index closed lower by 59.80 points or 0.57 percent and ended at 10425.05 levels.
The top five gainers in the Nifty 50 index were Bharti Airtel, Eicher Motors, ITC, TechM, and Tata Steel. The top five losers in the Nifty 50 index were SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, and Bajaj Finserve. The most active stocks in the Nifty 50 index in terms of value were Bharti Airtel, SBI, and Tata Steel. The most active stocks in terms of volume were Bharti Airtel, SBI, and ITC.
On a sectoral front, the Telecom, Metals, IT & Software, Oil & Gas, Healthcare, and FMCG sectors closed higher. The sectors that closed in the red were Banking, Automobiles, Finance, Insurance, and Realty.
Nifty and Nifty Bank futures price movement for 5 August ( Aug Expiry)
The Nifty futures price opened at 16280 and made a positive opening of 19.2 points. It has touched an intraday high at 16350 and a day’s low at 16220
The Nifty futures price has given a movement of 130 points today. In the end, it gained 29.85 points or 0.18 percent and ended at 16290.65 levels.
The Bank Nifty futures opened at 36116.45. It made a positive opening of 22.1 points today. It has touched an intraday high at 36174.65 and a day’s low at 35751
During the day, the Bank Nifty in futures has given a movement of 423.65 points. In the end, it closed lower by 187.25 points or 0.52 percent and closed at 35907.10 levels
Nifty & Bank Nifty Futures Prediction for, 6 August 2021 (Aug Expiry )
Nifty Futures Prediction for Tomorrow, 6 August 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16350 whereas All Down Moves Initiates Short Covering (Buy) @ 16250
If the Nifty futures share price Moves Above 16327 and sustain. Then you should Buy with 1st Target of 16354 during the day with a Stop Loss of 16246 FOR the Target of 16354-16375- 16406
If the Nifty futures share price Moves Below 16246 and is sustained. Then you should Sell with the 1st Target of 16218 during the day with a Stop Loss of 16327. FOR the Target of 16218- 16191-16158
Bank Nifty Futures Prediction for Tomorrow, 6 August 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36200, whereas All Down Moves Initiates Short Covering (Buy) @ 35850
Suppose the Bank Nifty futures Moves Above 36040 and sustain, then you should Buy with the 1st Target of 36138 during the day with a Stop Loss of 35820. FOR the Target of 36138 – 36250 – 36370
If the Bank Nifty futures Moves Below 35820 and sustain, then you should Sell with the 1st Target of 35710 during the day with a Stop Loss of 36040. FOR the Target of 35710 – 35620 – 35525
Global markets today
On the global front, Asian markets indexes closed mostly in the red on Thursday as Beijing crackdown in online gaming and other sectors fears hit the sentiments. European market indexes are trading almost flat in early trade on Thursday as investors eyed the latest policy announcement from the Bank of England later today. The US market indexes, Dow and Nasdaq futures are trading higher at this moment at 4.30 pm IST
Conclusions
Indian stock markets managed to close higher amid volatility. Markets gain with the support of buying in IT and Metal space whereas Banking, Financial, and Insurance sectors tried to drag down the markets. Bank Nifty was trading highly volatile today and closed in the red as traders were cautious ahead of the RBI Monetary Policy outcome on Friday.
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