Nifty and Bank Nifty Prediction for Monday 5 Dec 2022
Nifty and Bank Nifty Prediction for Monday 5 Dec 2022: Indian equity market indices closed lower on Friday amid weak cues from Asian markets. The equity benchmark indices snapped their 8-day winning streak and closed in the red. The Indian markets declined on the back of selling in Auto, Financial Services, and Energy stocks while some buying was seen in Media, Realty, and Metals stocks.
The market breadth was strong with the advance-decline indicating a ratio of 3:2 at the close. The broader markets outperformed on Friday, as Nifty mid and smallcap indexes gained 0.88 percent and 0.60 percent respectively. At the close, the Sensex and Nifty close lower by 0.60 percent and 0.62 percent respectively on Friday.
Nifty and Nifty Bank futures price movement on Friday, 2 Dec (Dec Expiry)
On Friday, Dec 2, the Nifty futures (Dec Series) opened at 18948.95 levels, it made a flat opening of just 0.65 points higher. It touched an intraday high at 18948.95 and a day’s low at 18760.05
The Nifty future has given a movement of 188.9 points on Friday. In the end, it declined 133.30 points or 0.70 percent and ended at 18815 levels.
The Bank Nifty futures (Dec. Series) opened at 43245 levels on the last day of the week. It made a negative opening of 142.75 points on Friday. It has touched an intraday high at 43387.75 and a day’s low at 43161.95
On Friday, the Bank Nifty future gave a movement of 225.8 points. At the close, it ended lower by 154.35 points or 0.36 percent and closed at 43320.80 levels.
Nifty & Bank Nifty Prediction for Monday 5 Dec 2022 (Dec Expiry)
Nifty Futures Prediction for Monday 5 Dec 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18950 whereas All Down Moves Initiates Short Covering (Buy) @ 18720
If the Nifty futures share price Moves Above 18856 and sustain. Then you should Buy with 1st Target of 18895 during the day with a Stop Loss of 18812 FOR the Target of 18895-18932- 18955
If the Nifty futures share price Moves Below 18756 and is sustained. Then you should Sell with the 1st Target of 18720 during the day with a Stop Loss of 18785. For the Target of 18720- 18685- 18645
Bank Nifty Futures Prediction for Monday 5 Dec 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 43400, whereas All Down Moves Initiates Short Covering (Buy) @ 42800
Suppose the Bank Nifty futures Moves Above 43285 and sustain, then you should Buy with the 1st Target of 43400 during the day with a Stop Loss of 43150. For the Target of 43400- 43515- 43600
If the Bank Nifty futures Moves Below 43030 and sustain, then you should Sell with the 1st Target of 42950 during the day with a Stop Loss of 43115. For the Target of 42950- 42800- 42670
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Global stock market updates
The US key stock market indexes pared their intraday losses and closed almost flat on Friday. The market sentiments become negative after the monthly job report, as the US Labor Department showed nonfarm payrolls for the month of November rose better than expected and wage growth accelerated, while the Unemployment rate remained unchanged as expected.
Investors were expecting signs of weakness in the labor market, especially wages so that inflation gets cool down and the Fed slow down interest rate hikes. The markets later recovered their intraday losses as investors pick up on some mixed signals in the job report after in-depth analysis, such as a decline in the average workweek for private-sector employees.
Europen key stock market indexes closed mostly in the red on Friday due to the release of better-than-expected US job reports, especially as regards wage growth. Investors were looking for more clarity after China signaled a slight easing of its covid restriction. Meanwhile, the European Union tentatively agreed to a $60 per barrel price cap for Russia’s oil on Friday.
Conclusions
The domestic markets were under pressure due to weak cues from Asian markets and remain cautious ahead of the US monthly job report on Friday. The better-than-expected US job report can cause some market volatility in the next week. You can read our Stock Market Next Week Prediction report on Sunday.
Also read, Tradingview India Review 2022- You Must Read
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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