Nifty and Bank Nifty Prediction for Monday 31 Oct 2022
Nifty and Bank Nifty Prediction for Monday 31 Oct 2022: Indian equity benchmarks ended with a modest gain on Friday amid mixed global cues. The market sentiments were boosted due to the appreciation in the Indian rupee, FIIs inflow, and strong quarterly earnings. Among the sectors, Auto and Oil & Gas were in demand on Friday while the Metals and Pharma sectors witnessed profit booking on the last day of the week.
The market breadth was slightly on the weaker side with the advance decline indicating a ratio of 4:5 at the close. The broader markets underperformed as compared with their larger peers. FIIs were the buyers and DIIs were the sellers in the Indian equity segment. FIIs bought Rs 1568.75 crore worth of shares while DIIs sold Rs 613.37 crore on Friday.
Nifty and Nifty Bank futures price movement on Friday, 28 Oct (Nov Expiry)
On Friday, Oct 28, the Nifty futures (Nov Series) opened at 17781 levels, it made a slightly negative opening of 8.2 points. It has touched an intraday high at 17887.10 and a day’s low at 17773.30
The Nifty future has given a movement of 113.8 points on Friday. In the end, it gained 47.80 points or 0.27 percent and ended at 17837 levels.
The Bank Nifty futures (Nov. Series) opened at 41450 levels on the last day of the week. It made a negative opening of 33 points on Friday. It has touched an intraday high at 41636.85 and a day’s low at 41015
On Friday, the Bank Nifty future gave a movement of 621.85 points. At the close, it ended lower by 318.20 points or 0.77 percent and closed at 41164.95 levels.
Nifty & Bank Nifty Prediction for Monday 31 Oct 2022 (Nov Expiry)
Nifty Futures Prediction for Monday 31 Oct 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17950 whereas All Down Moves Initiates Short Covering (Buy) @ 17720
If the Nifty futures share price Moves Above 17860 and sustain. Then you should Buy with 1st Target of 17902 during the day with a Stop Loss of 17825 FOR the Target of 17902-17932- 17970- 18030
If the Nifty futures share price Moves Below 17785 and is sustained. Then you should Sell with the 1st Target of 17755 during the day with a Stop Loss of 17809. For the Target of 17755- 17715- 17665- 17609
Bank Nifty Futures Prediction for Monday 31 Oct 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41500, whereas All Down Moves Initiates Short Covering (Buy) @ 40850
Suppose the Bank Nifty futures Moves Above 41295 and sustain, then you should Buy with the 1st Target of 41385 during the day with a Stop Loss of 41135. For the Target of 41385- 41490- 41630- 41715
If the Bank Nifty futures Moves Below 40950 and sustain, then you should Sell with the 1st Target of 40865 during the day with a Stop Loss of 41050. For the Target of 40865- 40745- 40630- 40550
If you want Market Views and Live Trading calls for Nifty, Bank Nifty and Stocks, Cash/F&O Segment, and Global /Domestic market happenings then join our Telegram Channel – https://t.me/nifty50stocks1
Global stock market’s Friday updates
The US stock market indexes ended higher due to upbeat results from Apple and the hopes of slower interest rate hikes by the Federal Reserve. The latest data showed that US consumer spending rose more than expected in September but Pvt industry wage growth slowed considerably in the third quarter and the underlying inflation still remained high.
Though the economic data still indicates a 75 basis point rate hike by the Fed next week, investors are pinning their hopes on the central bank taking a less aggressive approach by delivering a 50 bps hike in December.
European stock markets pared early losses and closed mixed on Friday as investors digested the central bank’s decision to raise its interest rate by 75 basis points along with a series of corporate earnings. The pan-Europe Stoxx 600 reversed its early losses to end the day 0.1% higher. The basic resources and retail stocks closed lower, both declining nearly 2% while telecom and healthcare stocks gained on Friday.
Conclusions
Indian stock market indexes made decent gains on the last day of the week despite weak global cues. The market sentiments got improved due to gains in heavyweight stocks. The strong quarterly earnings and FIIs inflow also supported the markets.
The global market sentiments turned positive on Friday due to strong corporate earnings. The domestic markets are likely to trade positively on Monday. You can also follow our “Daily Morning Market Report” on Monday morning for the stock market direction.
Also read, Best Options Trading Books in India-Must Read 2022
Hedging: Meaning, Risk, Strategies, and types of Hedge
If you like the post “Nifty and Bank Nifty Prediction for Monday 31 Oct 2022” 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 for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com 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. Nifty50stocks.com 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.
