Nifty & Bank Nifty Prediction for Tomorrow, 3 August 2021
Nifty and Bank Nifty prediction for tomorrow, 3 August 2021: Indian stock markets opened higher amid mixed global cues and continue to trade firm in today’s trading session. The markets got support on the back of healthy buying in the Auto, Oil & Gas, Realty, and IT sectors. In the end, the benchmark indices, Sensex and Nifty gained more than a half percent today.
The market sentiments got support with commerce Minister Piyush Goyal’s statement that India and the US are ‘natural partners’ and services trade will play a critical role in ever-expanding business ties. He further added that the service escort holds a lot of promise in aiding India’s economic recovery in the post Covid period.
The market sentiments got further boosted as the country’s manufacturing activities have seen growth in July. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) data rises to 3 months high of 55.3 in July 2021, as demand improves and Covid restrictions ease.
Today’s market updates: Sensex, Nifty, and Bank Nifty on spot levels
Finally, Nifty gained 122.10 points or 0.78 percent and closed at 15885.15 while Sensex was up by 363.79 points or 0.70 percent and finished at 52950.63 levels. The Bank Nifty spot price also closed higher by 125.65 points or 0.37 percent and ended at 34710 levels.
The midcap and smallcap indexes outperformed the benchmark indices today. The Nifty midcap index gained 435.15 points or 1.56 percent and closed at 28250.40 levels. The Nifty smallcap index was up by 95.35 points or 0.91 percent and ended at 10,617.45 levels.
The top five gainers in the Nifty 50 index were Titan, Shree Cement, BPCL, Adani Ports, and Eicher Motors. The top losers in the Nifty 50 index were UPL, Tata Steel, Bajaj Finserve, Bajaj Finance, and TechM. The most active stocks in terms of value in the Nifty 50 index were Sun Pharma, Tata Steel, and HDFC. The most active stocks in terms of volume were Tata Motors, Sun Pharma, and SBI.
On a sectoral front, barring Consumer Durable all other major sectors closed in the green today. The sectors that helped the markets to trade higher were Oil & Gas, IT & Software, Automobiles, Realty, Healthcare, and Infrastructures.
Nifty and Nifty Bank futures price movement for 2 August ( August Expiry)
The Nifty futures price opened at 15885 and made a positive opening of 107.75 points. It has touched an intraday high at 15918.20 and a day’s low at 15841
The Nifty futures price has given a movement of 77.2 points today. In the end, it gained 132.95 points or 0.84 percent and ended at 15843 levels.
The Bank Nifty futures opened at 34820.50. It made a positive opening of 147.35 points today. It has touched an intraday high at 34987.15 and a day’s low at 34678.25
During the day, the Bank Nifty in futures has given a movement of 308.9 points. In the end, it closed higher by 169.85 points or 0.49 percent and closed at 34843 levels
Nifty & Bank Nifty Prediction for Tomorrow, 3 August 2021 (Aug Expiry )
Nifty Futures Prediction for Tomorrow 3 August 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15940 whereas All Down Moves Initiates Short Covering (Buy) @ 15800
If the Nifty futures share price Moves Above 15874 and sustain. Then you should Buy with 1st Target of 15909 during the day with a Stop Loss of 15802 FOR the Target of 15909-15942- 15980
If the Nifty futures share price Moves Below 15802 and is sustained. Then you should Sell with the 1st Target of 15775 during the day with a Stop Loss of 15874. FOR the Target of 15775- 15732-15695
Bank Nifty Futures Prediction for Tomorrow, 3 August 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35150, whereas All Down Moves Initiates Short Covering (Buy) @ 34750
Suppose the Bank Nifty futures Moves Above 34995 and sustain, then you should Buy with the 1st Target of 35069 during the day with a Stop Loss of 34700. FOR the Target of 35069 – 35150 – 35300
If the Bank Nifty futures Moves Below 34700 and sustain, then you should Sell with the 1st Target of 34610 during the day with a Stop Loss of 34990. FOR the Target of 34610 – 34525 – 34400
Global markets today
On the global front, Asian markets mostly closed in the green on Monday even after China’s manufacturing data disappoints. European markets are trading higher due to the rebound in the Asian markets and strong corporate results from the European biggest bank HSBC. The US future indexes, Dow futures, and Nasdaq futures are trading higher at this moment at 5 pm IST.
Conclusions
Indian stock markets opened higher and traded above their neutral lines throughout the day. The market sentiments were upbeat as GST collection once again crossed above one lakh crore and easing of local covid related restrictions in several states. Further, the strong PMI data also indicates that the Indian economy is recovering at a faster pace.
You can also follow our Daily Morning Report and Nifty and Bank Nifty prediction for Tomorrow 3 August.
Also read, Best Stocks to Buy in India for Short Term in August 2021
Expert view on Bank Nifty & Nifty for Next Week ( 2- 6 Aug)
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