Nifty and Bank Nifty Prediction for Tomorrow, 31 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 31 Dec 2021: Indian equity market indices opened slightly lower on Thursday amid negative cues from other Asian market peers. Markets soon recovered and traded above their neutral lines on the back of buying in IT and Pharma stocks. The broader markets were mixed today as Nifty midcap ended lower while smallcap closed in the green today. In the end, markets erased all their intraday gains and closed flat to the negative today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 30 Dec (Dec Expiry)
The Nifty futures price opened at 17189.90, making a negative opening of 26 points. It has touched an intraday high at 17258.90 and a day’s low at 17151.60
The Nifty futures price has given a movement of 107.3 points today. In the end, it declined 8.70 points or 0.05 percent and ended at 17207.20 levels.
The Bank Nifty futures opened at 34955.05. It made a negative opening of 79.55 points today. It has touched an intraday high at 35164.25 and a day’s low at 34743.95
During the day, the Bank Nifty futures has given a movement of 420.3 points. In the end, it closed higher by 34.75 points or 0.10 percent and closed at 35069.35 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 31 Dec 2021 (Jan Expiry)
Nifty Futures prediction for Tomorrow, 31 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17350 whereas All Down Moves Initiates Short Covering (Buy) @ 17240
If the Nifty futures share price Moves Above 17309 and sustain. Then you should Buy with 1st Target of 17334 during the day with a Stop Loss of 17295 FOR the Target of 17334- 17370- 17403
If the Nifty futures share price Moves Below 17265 and is sustained. Then you should Sell with the 1st Target of 17245 during the day with a Stop Loss of 17285. FOR the Target of 17245- 17215- 17180
Bank Nifty Futures prediction for Tomorrow, 31 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700 whereas All Down Moves Initiates Short Covering (Buy) @ 35150
Suppose the Bank Nifty futures Moves Above 35452 and sustain, then you should Buy with the 1st Target of 35560 during the day with a Stop Loss of 35370. FOR the Target of 35560 – 35690 – 35815
If the Bank Nifty futures Moves Below 35120 and sustain, then you should Sell with the 1st Target of 35054 during the day with a Stop Loss of 35225. FOR the Target of 35054 – 34910 – 34800
Global stock markets today
On the global front, Asian markets closed mostly in the red on Thursday following the mixed cues from Wall Street overnight. The surges in Omicron variants globally fear the investors and are concerned that the new variants could slow down the economy heading into the new year.
European market indexes are trading almost flat with thin volume as many traders are in a holiday mood and will be back after the year-end. The US future market indexes, Dow and Nasdaq futures are trading marginally higher at this moment at 3.30 pm IST.
Conclusions
Indian stock markets ended flat to the negative on the December expiry day. The key benchmark indices traded in a narrow range today, markets volume was also thin in the last two days, as traders are in a holiday mood due to year-end. Global markets were mixed today as investors are uncertain about the impact of the new covid variants, which is surging globally including India.
On the technical front, markets are looking positive as the Nifty is trading 17200 levels. Tomorrow, markets will open as per global cues and are likely to trade in a narrow range.
Also read, Stock Market Trading Holidays for 2022
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