Market Updates Nifty and Bank Nifty prediction tomorrow 7th July

Share Market Updates: Nifty, Bank Nifty Prediction for 7th July: Indian share market opened today in a positive note as indicated by the global market cues. The market later extended its morning gains and closed in the positive territory. The Bank Nifty was volatile in a narrow range and erased most of its early gains in the second half.
The market sentiment was positive as Niti Aayog has launched a Digital India AatmaNirbhar Bharat App innovation challenge for Indian tech entrepreneurs and Startups. This App is to help and realize the vision of Prime Minister for building a Digital India and using Digital Technologies for building an AtmaNirbhar Bharat.
On the global front, almost all major Asian markets closed in the green today. Shanghai closed above 5% while Hang Seng gained around 4% today.
Europen markets were also opened in a positive zone and are currently trading in a strong note. This is as investors focus on the prospect of economic recovery and progress on potential coronavirus drugs, ignoring the concerns about the second wave of the pandemic. The Dow and Nasdaq futures are also trading more than 1% higher at 5 p.m IST.

Sensex, Nifty and Bank Nifty share price on the spot levels

At close, Nifty gained 156.30 points or 1.47% and at 10,763.70 while Sensex gained 465.86 points or 1.29% and at 36487.28. The Bank Nifty erased most of its early gain in the second half. It gained 346.60 points or 1.59% and at 22199 levels.

The Nifty midcap and smallcap 100 indices were closed more than 1.5% higher today. In the end, Nifty midcap gained 254.50 points, and at 15297.15 while smallcap index was up by 85.65 points and at 4791.65 levels.
The top five gainers for the day in the Nifty50 index are M&M, Bajaj Finance, Hindalco, Tata Motors, and Reliance. The losers in the Nifty50 Index for the day are ITC, Bajaj Auto, GAIL, Wipro, and HDFC.
On a sector-wise, the top gaining sectors for the day are Automobiles, Oil & Gas, Banking & Finance, Real Estate, and Metals. The sectors that closed in the red for today are Healthcare, Telecom, and Industrial Gass.

Nifty and Bank Nifty share price in futures today

The Nifty share price today in futures opened at 10,700.65, it was made a positive opening of 128.2 points today. It has touched an intraday high at 10785 and a day’s low at 10661.05.
The Nifty share price today in futures has given a movement of 123.95 points. In the end, it was up by 188 points or 1.78% and closed at 10760.45 levels
The Bank Nifty share price in futures opened in 22201, it was made a gap up opening of 150.35 points today. It has touched an intraday high at 22444 and a day’s low at 22141.05
During the day the Bank Nifty share price in futures has given a movement of 302.95 points. In the end, it gained 397.2 points and closed at 22241.10

Nifty & Bank Nifty prediction in futures for tomorrow, 7th July (July Expiry)

Nifty prediction in futures for 7th July 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 10850 whereas All Down Moves Initiates Short Covering (Buy) @ 10710
If Nifty share price in futures Moves Above 10785 and sustain. Then you should Buy with 1st Target of 10809 during the day with a Stop Loss of 10710. FOR the Target of 10809- 10834- 10859
If Nifty share price in futures Moves Below 10710 and sustain. Then you should Sell with 1st Target of 10686 during the day with a Stop Loss of 10785. FOR the Target of 10686- 10648- 10608.

Bank Nifty prediction in futures, 7th July 2020

Primary Trend of Bank nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 22600, whereas All Down Moves Initiates Short Covering (Buy) @ 21950
If Bank Nifty share price in futures Moves Above 22356 and sustain. Then you should Buy with 1st Target of 22410 during the day with a Stop Loss of 22020. FOR the Target of 22410 – 22494- 22575
If Bank Nifty share price in futures Moves Below 22020 and sustained. Then you should Sell with 1st Target of 21940 during the day with a Stop Loss of 22356. FOR the Target of 21940 – 21820- 21670.

Conclusions:

Indian share market continued its northward journey with the support of a positive global market. Nifty closed above 10750 is positive for the market. We can see more positive trading in the markets in the near term. The economic recovery of China and the US have created positive sentiments across the global market.
The Indian share market is now inching toward 11000 levels. Traders need to be cautious and track these factors closely before taking any position in the market. Traders can also follow our Daily Stock/Share Market live and Nifty and Bank Nifty prediction for 7th July.

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