Nifty and Bank Nifty Prediction for Monday, 3 Jan 2022
Nifty and Bank Nifty prediction for Monday, 3 Jan 2022: Indian stock markets ended on a strong note on Friday amid mixed cues from global markets ahead of New Year’s eve. Markets gained with support of Institutional buyers as both FIIs and DIIs were net buyers on the last day of the year 2021. The broader markets outperformed the benchmark indices as Nifty midcap and smallcap indexes closed above 1.40 percent each. In the end, the key indices Sensex and Nifty extended their early gains and closed almost a percent higher.
You can also read Friday’s market updates and last week’s market analysis by clicking on the respective link.
Nifty and Nifty Bank futures price movement on Friday 31 Dec (Jan Expiry)
On Friday, 31 December, Nifty futures opened at 17268 levels, it was a flat opening on the first day of the Jan series. It has touched an intraday high at 17448 and a day’s low at 17265.10.
The Nifty future has given a movement of 182.9 points on Friday. In the end, it gained 149.05 points or 0.86 percent and ended at 17417 levels.
The Bank Nifty futures opened at 35256 levels on the last day of the week. It made a positive opening of 34.65 points on Friday. It has touched an intraday high at 35750 and a day’s low at 35200
On Friday, the Bank Nifty future gave a movement of 550 points. In the end, it gained by 453.15 points or 1.29 percent and closed at 35674.50 levels.
Nifty & Bank Nifty Prediction for Monday, 3 Jan 2022 (Jan Expiry)
Nifty Futures Prediction for Monday, 3 Jan 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17500 whereas All Down Moves Initiates Short Covering (Buy) @ 17330
If the Nifty futures share price Moves Above 17435 and sustain. Then you should Buy with 1st Target of 17470 during the day with a Stop Loss of 17404 FOR the Target of 17470- 17512- 17544
If the Nifty futures share price Moves Below 17380 and is sustained. Then you should Sell with the 1st Target of 17358 during the day with a Stop Loss of 17396. FOR the Target of 17358- 17328- 17300
Bank Nifty Futures Prediction for Monday, 3 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36050, whereas All Down Moves Initiates Short Covering (Buy) @ 35500
Suppose the Bank Nifty futures Moves Above 35756 and sustain, then you should Buy with the 1st Target of 35840 during the day with a Stop Loss of 35670. FOR the Target of 35840 – 35970 – 36065
If the Bank Nifty futures Moves Below 35570 and sustain, then you should Sell with the 1st Target of 35450 during the day with a Stop Loss of 35640. FOR the Target of 35450 – 35340 – 35215
Global market indexes
On the global front, European markets finished marginally lower on the last day of the year 2021. Markets witnessed thin volumes as traders and investors pondered a new year in the shadow of surging the new covid variant cases in the region. The US market indexes lost steam in a lackluster trading session on Friday, as major indexes ended lower on the last trading day of 2021.
Conclusions
Indian markets traded positively on the last trading day of 2021 despite mixed cues from the global markets and surges in omicron variants in the country. Technically, the markets are looking positive as Nifty is trading comfortably above its crucial levels.
Tomorrow, you can follow “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
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