Share Market Tomorrow: Nifty & Bank Nifty prediction
Nifty & Bank Nifty prediction for tomorrow 5 May: Share market today opened higher amid mixed cues from the global markets. Markets traded positively in the morning session but erased all their gains in the second half. In the end, the key benchmark indices ended almost one percent down from yesterday’s close.
The market sentiments were positive on the Covid front, as the latest data indicates plateauing of the Covid curve and a steady decline in Covid numbers in 13 states, including Maharashtra. After touching a high at 4.02 lakhs active cases on May 1, the daily figure has been declining steadily. However, the traders were concern about the second wave’s lockdowns’ impact on the economic recovery after the CIMIE reports that the country’s unemployment rate is at a four-month high of 8 percent in April.
Share Market Highlights Today- Sensex, Nifty & Bank Nifty on the spot price
At the close, Nifty fell 137.65 points or 0.94 percent and ended at 14496.50 levels while Sensex declined 465.01 points or 0.95 percent and finished at 48253.51 levels. The Bank Nifty was slipped 195.40 points or 0.60 percent and closed at 32270.35 levels.
The midcap and smallcap indexes also closed lower today. The Nifty midcap index was down by 95.70 points or 0.39 percent and closed at 24167.80 levels. The Nifty smallcap index fell 77.25 points or 0.89 percent and ended at 8580.90 levels.
The top five gainers in the Nifty50 index were SBI Life, ONGC, BPCL, Bajaj Finance and Adani Ports. The top five losers in the Nifty 50 index were Tata Cons. Products, Cipla, Dr. Reddy’s Lab, Divis Lab, and Reliance. The most active stocks in the nIfty 50 index were Bajaj Finance, Tata Steel, and Adani Ports.
On a sectoral basis, Nifty PSU Banking, Insurance, Infrastructure sectors closed in the green. On the losing side, Healthcare, Metals, Oil & Gas, Capital Goods, and Automobile sectors fell the most today.
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Share Market Today 4 May- Nifty and Bank Nifty futures ( May Expiry)
The Nifty futures price opened at 14708.25 made a positive opening of 22.45 points. It has touched an intraday high at 14765 and a day’s low at 14510.75
The Nifty futures price has given a movement of 254.25 points today. In the end, it declined 133.9 points or 0.91 percent and ended at 14551.90 levels.
The Bank Nifty futures price opened at 32755.05 It made a positive opening of 99.2 points today. It has touched an intraday high at 33206 and a day’s low at 32316.50
During the day, the Bank Nifty futures price has given a movement of 889.5 points. In the end, it closed lower by 210.85 points or 0.65 percent and closed at 32445 levels.
Share Market Tomorrow- Nifty, Bank Nifty prediction for 5 May (May Expiry)
Nifty futures prediction for tomorrow 5 May
Primary Nifty Trend in futures: Mild Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 14600 whereas All Down Moves Initiates Short Covering (Buy) @ 14480
If the Nifty futures share price Moves Above 14609 and sustain. Then you should Buy with 1st Target of 14648 during the day with a Stop Loss of 14522 FOR the Target of 14648-14684- 14707
If the Nifty futures share price Moves Below 14522 and sustain. Then you should Sell with the 1st Target of 14480 during the day with a Stop Loss of 14609. FOR the Target of 14480- 14454 -14418
Bank Nifty futures prediction for tomorrow 5 May
Primary Trend of Bank Nifty Futures: Mild Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32750, whereas All Down Moves Initiates Short Covering (Buy) @ 32000
Suppose Bank nifty share price in futures Moves Above 32655 and sustain, then you should Buy with the 1st Target of 32780 during the day with a Stop Loss of 32350. FOR the Target of 32780 – 32970 – 33180
If Bank nifty share price in the futures Moves Below 32350 and sustained, then you should Sell with the 1st Target of 32130 during the day with a Stop Loss of 32655. FOR the Target of 32130 – 31935 – 31765
Global markets today
On the global front, Asian markets were closed mixed on Tuesday as regional equity investors looked to signs of recovery from the coronavirus pandemic as major economies around the world started reopening. The European markets are trading higher on Tuesday as mining and travel stocks driving the markets. The US futures indices, Dow, and Nasdaq futures are trading marginally lower on Tuesday at 5 pm IST
Conclusions:
Indian share market today opened higher but profit bookings in metals, pharma, and auto stocks have dragged down the market almost one percent today. The disappointments in quarterly earnings of some midcap stocks have also created negative sentiments in the markets. PSU Banking sector gained the most, the index was up more than 3 percent today. Going ahead in the share market, tomorrow volatility may continue due to corporate earning and PMI service sectors numbers.
You can also follow our Daily Morning Report and Nifty and Bank Nifty futures prediction for tomorrow 5 May.
Also read, Bank Nifty Technical Analysis | Nifty Trends for (3-7 May)
Intraday Trading books to make money from Stock Markets
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