Nifty & Bank Nifty Prediction for Tomorrow, 5 Oct 2021
Nifty and Bank Nifty Prediction for Tomorrow, 5 Oct 2021: Indian stock markets opened higher on Monday despite negative cues from other Asian market peers. Indian markets gain today on the back of buying in the Metals, Pharma, Realty, and PSU Banking sectors. The benchmark indices were comfortably trading above their crucial levels, Nifty above 17700, and Sensex above 59000. The midcap and smallcap indexes outperformed the benchmark indices and closed higher. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 4 October (Oct Expiry)
The Nifty futures price opened at 17571 and made a positive opening of 40.8 points. It has touched an intraday high at 17745 and a day’s low at 17560.05
The Nifty futures price has given a movement of 184.95 points today. In the end, it gained by 184.80 points or 1.05 percent and ended at 17715 levels.
The Bank Nifty futures opened at 37445. It made a positive opening of 68.45 points today. It has touched an intraday high at 37785 and a day’s low at 37445
During the day, the Bank Nifty in futures has given a movement of 340 points. In the end, it closed higher by 393.65 points or 1.05 percent and closed at 37750.05 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 5 Oct 2021 (Oct Expiry)
Nifty Futures Prediction for Tomorrow, 5 Oct 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17800 whereas All Down Moves Initiates Short Covering (Buy) @ 17690
If the Nifty futures share price Moves Above 17730 and sustain. Then you should Buy with 1st Target of 17754 during the day with a Stop Loss of 17690 FOR the Target of 17754-17807- 17849
If the Nifty futures share price Moves Below 17660 and is sustained. Then you should Sell with the 1st Target of 17638 during the day with a Stop Loss of 17676. FOR the Target of 17638- 17609-17580
Bank Nifty Futures Prediction for Tomorrow, 5 Oct 2021
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37900, whereas All Down Moves Initiates Short Covering (Buy) @ 37400
Suppose the Bank Nifty futures Moves Above 37847 and sustain, then you should Buy with the 1st Target of 37940 during the day with a Stop Loss of 37760. FOR the Target of 37940 – 38020 – 38130
If the Bank Nifty futures Moves Below 37575 and sustain, then you should Sell with the 1st Target of 37470 during the day with a Stop Loss of 37660. FOR the Target of 37470 – 37390 – 37285
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Global markets today
On the global front, the Asian markets closed mixed on Monday. Shanghai was closed today due to a national holiday, Hang Seng index fell more than 2 percent on Monday s it has suspended China Evergrande group shares from trading. Nikkei also fell more than a percent due to worries about Evergrande’s group debt crisis.
European market indexes are trading in the red due to the weak Asain session and growing concern about China’s Evergrande. US future indexes, Dow and Nasdaq futures are trading lower at this moment indicates a pessimistic opening for the US market today.
Conclusions
Indian stock markets bounced back on Monday after four losing sessions in a row last week. The markets opened a gap up despite weak global cues. Almost all major sectors contributed to the rally today. Going ahead, on Tuesday market will react to Service PMI data expected at 10.30 in the morning.
Also read, Best stocks to buy in India for short term 2021 October
You may be interested to check out some attractive deals on Amazon Great Indian Festival.
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