Nifty & Bank Nifty share price prediction for 4th Aug

 

Indian markets opened in a negative note and later extended its losses. The global markets were mixed in the morning as investors were in fear of rising coronavirus cases worldwide. Profit booking in private banking and Oil and Gas stocks dragged down the Nifty and Bank Nifty today. 

 

Derivative market updates: Nifty and Bank Nifty in futures today

 

The Nifty share price in futures opened at 10993.70, it made a negative opening of 102.15 points today. It has touched an intraday high at 11029 and a day’s low at 10883.40

The Nifty share price in futures has given a movement of 145.6 points. In the end, it declined by 179.65 points or 1.62 % and closed at 10916.20 levels

The Bank Nifty share price in futures opened at 21480 it was made a negative opening of 211.5 points today. It has touched an intraday high at 21549.70 and a day’s low at 21085.35

During the day the Bank Nifty share price in futures has given a movement of 464.35 points. In the end, it was down by 499.50 points or 2.30% and closed at 21192 levels.

 

Nifty & Bank Nifty share price prediction in futures for 4th Aug (Aug Expiry)

 

Nifty futures 4th Aug

 

Nifty share price prediction in futures for 4th Aug 2020

Primary Nifty Trend in futures: Mild Negative

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11000 whereas All Down Moves Initiates Short Covering (Buy) @ 10800

If NSE Nifty index in futures Moves Above 10952 and sustain. Then you should Buy with 1st Target of 10974 during the day with a Stop Loss of 10880. FOR the Target of 10974- 11002- 11044

If NSE Nifty index in futures Moves Below 10880 and sustain. Then you should Sell with 1st Target of 10856 during the day with a Stop Loss of 10952. FOR the Target of 10856- 10827- 10798

 

 

Bank Nifty share price prediction in futures, 4th Aug  2020

Primary Trend of Bank Nifty Futures: Mild Negative

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 21380, whereas All Down Moves Initiates Short  Covering (Buy) @ 20800

If the NSE Bank Nifty index in futures  Moves Above 21280 and sustain. Then you should Buy with 1st Target of 21370 during the day with a Stop Loss of  21080. FOR the Target of 21370 – 21460- 21550

If the NSE Bank Nifty index in futures Moves Below 21080 and sustained. Then you should Sell with 1st Target of 21006 during the day with a Stop Loss of 21280. FOR the Target of 21006 – 20930- 20810

 

Conclusions:

Indian markets started the week in a pessimistic mood on Monday. Markets may remain in a correction phase as there is a fear of a second wave of coronavirus infection worldwide. The V-shape economic recovery expected by many countries is now looking faded. The Nifty has got strong support at 10820-10800 levels.

Traders can also track these factors closely before taking any position in the market. You may be interested to check out the latest charting platform for your strategy here. Traders can also follow our Daily Stock/Share Market live and NSE Nifty and Bank nifty share price prediction in futures for 4th Aug 2020.

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