Nifty and Bank Nifty Prediction for Tomorrow, 3 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 3 Dec 2021: Indian equity benchmark indices opened marginally higher on Thursday amid mixed cues from the other Asian market peers. The domestic market sentiments remained positive as traders were optimistic about the strong economic data released during the week. Buying witnessed in the blue-chip counters today and on IT, Energy and Metal counters. The broader markets were also closed higher today. In the end, the domestic markets extended their morning gains and closed higher in the positive zone. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 2 Dec (Dec Expiry)
The Nifty futures price opened at 17205, making a negative opening of 16.9 points. It has touched an intraday high at 17444.45 and a day’s low at 17170
The Nifty futures price has given a movement of 274.45 points today. In the end, it gained 218 points or 1.27 percent and ended at 17439.90 levels.
The Bank Nifty futures opened at 36401. It made a negative opening of 67.25 points today. It has touched an intraday high at 36689.95 and a day’s low at 36282
During the day, the Bank Nifty futures has given a movement of 407.95 points. In the end, it closed higher by points 186.75 points or 0.51 percent and closed at 36655 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 3 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 3 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17530 whereas All Down Moves Initiates Short Covering (Buy) @ 17410
If the Nifty futures share price Moves Above 17462 and sustain. Then you should Buy with 1st Target of 17505 during the day with a Stop Loss of 17427 FOR the Target of 17505- 17532- 17580
If the Nifty futures share price Moves Below 17390 and is sustained. Then you should Sell with the 1st Target of 17358 during the day with a Stop Loss of 17409. FOR the Target of 17358- 17330- 17313
Bank Nifty Futures prediction for Tomorrow, 3 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37000 whereas All Down Moves Initiates Short Covering (Buy) @ 36400
Suppose the Bank Nifty futures Moves Above 36870 and sustain, then you should Buy with the 1st Target of 36965 during the day with a Stop Loss of 36715. FOR the Target of 36965 – 37120 – 37240
If the Bank Nifty futures Moves Below 36525 and sustain, then you should Sell with the 1st Target of 36430 during the day with a Stop Loss of 36660. FOR the Target of 36430 – 36320 – 36165
Global markets today
On the global front, Asian markets closed mixed today, the gains remained capped as markets struggled to find direction in the absence of solid information about the Omicron variant of the new coronavirus. European market opened lower and are trading in the red zone as fears around the Omicron coronavirus variant fuelled further volatility. The US futures, Dow, and Nasdaq futures are trading in the green at 3.30 pm IST, indicating a positive opening for the US markets.
Conclusions
Indian markets closed higher despite negative cues from the US markets overnight. The domestic market sentiments were optimistic as the positive economic data was released during the week. Traders have ignored the uncertainty of the new Covid variants -Omicron, which is spreading globally.
Going ahead, the market may react negatively tomorrow as two Omicron cases were also found in Karnataka. The news came after the market hours on Thursday. Indian markets will also have Service PMI data tomorrow morning around 10.30 am. Traders should remain cautious as markets are likely to be volatile on the last day of the week.
Also read, Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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