Nifty | Bank Nifty Futures Prediction for Tomorrow, 3 Sept
Nifty and Bank Nifty Futures Prediction for Tomorrow, 3 Sept 2021: Indian stock markets opened higher on Thursday amid positive global cues. Markets continued to trade in the green terrain and gradually extended their early gains on the back of buying in IT, FMCG, and Metals stocks. In the end, the benchmark indices closed at a record high today.
Indian markets traded on an optimistic note, ahead of the weekly expiry, as traders took some support with the finance ministry stating that the GST collection above 1-lakh crore mark for the second straight month, signaling accelerating economic activity post-second wave of Covid-19.
However, gains remain capped as traders got anxious with former RBI Deputy Governor Viral Acharaya’s statement that he is worried about US tapering coinciding with RBI’s rate tightening, and warned that barring high forex reserves, domestic conditions are the same as the ones during the 2013 taper tantrums.
Today’s market update: Sensex, Nifty, and Bank Nifty spot price
At the close, Nifty gained 157.90 points or 0.92 percent and closed at 17234.15 while Sensex was up by 514.33 points or 0.90 percent and finished at 57852.54 levels. The Bank Nifty also gained 257 points or 0.70 percent and ended at 36831.30 levels.
The broader markets also gained in line with the larger peers. The Nifty midcap index gained 287.20 points or 1 percent and closed at 28916.65 levels. The Nifty smallcap index was up by 106.55 points or 1.03 percent and ended at 10404.10 levels.
The top five gainers in the Nifty50 index were Shree Cement, HDFC Life, Cipla, TCS, Hindustan Unilever. The top five losers in the Nifty50 index were M&M, ONGC, Bajaj Auto, Divis Lab, and Tata Motors. The most active stocks in terms of value were TCS, Bharti Airtel, and HDFC Life. The most active stocks in terms of volume were Bharti Airtel, HDFC life, and Tata Motors.
On a sectoral basis, barring Automobiles all other major sectors closed higher today. The IT & Software, FMCG, Metal, Consumer Durables, and Realty sectors closed higher today.
Nifty and Nifty Bank futures price movement for 2 Sept (Sept Expiry)
The Nifty futures price opened at 17138.90 and made a positive opening of 41.95 points. It has touched an intraday high at 17262.70 and a day’s low at 17072.10
The Nifty futures price has given a movement of 190.6 points today. In the end, it gained 162.45 points or 0.95 percent and ended at 17259.40 levels.
The Bank Nifty futures opened at 36511. It made a negative opening of 188 points today. It has touched an intraday high at 37033 and a day’s low at 36511
During the day, the Bank Nifty in futures has given a movement of 522 points. In the end, it closed higher by 324 points or 0.88 points and closed at 37023 levels
Nifty & Bank Nifty Futures Prediction for Tomorrow, 3 Sept 2021 (Sept Expiry)
Nifty Futures Prediction for Tomorrow, 3 Sept 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17300 whereas All Down Moves Initiates Short Covering (Buy) @ 17160
If the Nifty futures share price Moves Above 17272 and sustain. Then you should Buy with 1st Target of 17295 during the day with a Stop Loss of 17198 FOR the Target of 17295-17324- 17352
If the Nifty futures share price Moves Below 17198 and is sustained. Then you should Sell with the 1st Target of 17162 during the day with a Stop Loss of 17272. FOR the Target of 17162- 17133-17072
Bank Nifty Futures Prediction for Tomorrow, 1 Sept 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37200, whereas All Down Moves Initiates Short Covering (Buy) @ 36950
Suppose the Bank Nifty futures Moves Above 37120 and sustain, then you should Buy with the 1st Target of 37210 during the day with a Stop Loss of 36940. FOR the Target of 37210 – 37290 – 37380
If the Bank Nifty futures Moves Below 36940 and sustain, then you should Sell with the 1st Target of 36855 during the day with a Stop Loss of 37120. FOR the Target of 36855 – 36760 – 36678
Global markets today
On the global front, Asian markets closed mixed on Thursday as investors looked beyond weak economic data that weighed on the dollar to focus on the likely continuation of massive central bank stimulus measures. European markets are trading near their neutral lines as investors awaited the release of US initial jobless claims and the unemployment report on Friday. The US future indexes, Dow and Nasdaq futures are trading higher at this moment at 4.30 pm IST.
Conclusions
Indian markets rallied today after taking a pause on Wednesday. The benchmark indices closed at record high levels near the day’s high. Traders are buying on every dip with the help of supportive global cues and positive economic data from the domestic front. Going ahead, the market is looking positive, traders should remain cautious tomorrow as PMI service data is expected during the market. The US unemployment data is also expected later on Friday.
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