Nifty and Bank Nifty Prediction for Tomorrow 3 June 2022
Nifty and Bank Nifty Prediction for Tomorrow 3 June 2022: Indian equity markets opened lower on Thursday following negative global cues. The domestic key indexes traded volatile in a narrow range in the morning session. In the afternoon session markets erased their intraday losses and traded higher with the support of positive European markets.
In the end, the benchmark indices gained over 0.50 percent on the back of buying in heavyweights like Reliance, TCS, and Infosys. The broader markets also gained today in line with their larger peers. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for June 2 (June Expiry)
The Nifty futures price opened at 16448, making a negative opening of 60.1points. It has touched an intraday high of 16645 and a day’s low of 16430
The Nifty futures price has given a movement of 215 points today. In the end, it closed higher by 121.90 points or 0.74 percent and ended at 16630 levels.
The Bank Nifty futures opened at 35594 It made a negative opening of 61.4 points. The Bank Nifty futures has touched an intraday high at 35769.35 and a day’s low at 35454.65
During the day, the Bank Nifty futures has given a movement of 314.17 points. In the end, it closed higher by 44.60 points or 0.13 percent and closed at 35700 levels.
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Nifty & Bank Nifty Prediction for Tomorrow June 3, 2022 ( June Expiry)
Nifty Futures Prediction for Tomorrow June 3, 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16750 whereas All Down Moves Initiates Short Covering (Buy) @ 16500
If the Nifty futures share price Moves Above 16654 and sustain. Then you should Buy with 1st Target of 16690 during the day with a Stop Loss of 16613 FOR the Target of 16690- 16744- 16788- 16818
If the Nifty futures share price Moves Below 16575 and is sustained. Then you should Sell with the 1st Target of 16550 for the day with a Stop Loss of 16605. FOR the Target of 16550- 16528- 16503- 16470
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Bank Nifty Futures Prediction for Tomorrow June 3, 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36050 whereas All Down Moves Initiates Short Covering (Buy) @ 35500
Suppose the Bank Nifty futures Moves Above 35840 and sustain, then you should Buy with the 1st Target of 35935 during the day with a Stop Loss of 35715 the Target of 35935- 36055- 36165- 36305
If the Bank Nifty futures Moves Below 35596 and sustain, then you should Sell with the 1st Target of 35458 the day with a Stop Loss of 35670. FOR the Target of 35458 – 35330 – 35202 – 35090
Global Stock Markets today
On the global front, the other Asian markets were mostly closed in the red, tracking negative cues from the US markets overnight, as investors worried about the concerns about the inflation and threat of recession. China’s Shanghai closed in the green after a choppy trading session, as the market sentiments were upbeat about the additional stimulus measures to support the ailing economy.
European markets are trading higher on Thursday, after two-day of decline, led by industrial and luxury stocks. The gains were limited due to a slide in energy stocks and lingering worries over slowing economic growth. FTSE is not trading today due to a holiday. The US futures, Dow, and Nasdaq futures are trading higher at this time at 5.30 pm IST.
Conclusion
Indian markets snapped a two-day losing streak. The markets bounced back in the second half today after a subdued start due to negative global cues. The recent correction in crude oil prices also supported the domestic market sentiments. Going ahead, Indian markets are looking positive for the near term and tomorrow the key indexes will open as per the global cues.
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