Nifty | Bank Nifty Prediction for Tomorrow 3 March 2022
Nifty & Bank Nifty Prediction for Tomorrow 3 March 2022: Indian equity markets opened lower on Wednesday as indicated by the global market peers in the morning. Traders were cautious and worried about inflation as crude oil touched a multi-year high. In the end, the key indexes Sensex and Nifty closed lower by more than 1 percent each. The markets witnessed heavy buying in the metal stocks whereas auto and banking stocks dragged the markets today.
The broader markets closed in the mixed as the Nifty midcap index ended lower and smallcap index gained in the end today. The volatility index India VIX gained 2.32 percent at 29.23 levels. You can read detailed market updates here
Nifty and Nifty Bank futures price movement for 2 March (March Expiry)
The Nifty futures price opened at 16595, making a negative opening of 199.25 points. It has touched an intraday high of 16678 and a day’s low at 16468
The Nifty futures price has given a movement of 210 points today. In the end, it closed lower by 149.40 points or 0.89 percent and ended at 16644.85 levels.
The Bank Nifty futures opened at 35548, It made a negative opening of 713.65 points. The Bank Nifty futures has touched an intraday high at 35665 and a day’s low at 34935.70
During the day, the Bank Nifty futures has given a movement of 729.3 points. In the end, it closed lower by 711.70 points or 1.96 percent and closed at 35549.95 levels.
Nifty & Bank Nifty Prediction for Tomorrow 3 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 3 March 2022
Primary Nifty Trend in futures: Mild Positive with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16800 whereas All Down Moves Initiates Short Covering (Buy) @ 16450
If the Nifty futures share price Moves Above 16675 and sustain. Then you should Buy with 1st Target of 16724 during the day with a Stop Loss of 16650 FOR the Target of 16724- 16774- 16820- 16885
If the Nifty futures share price Moves Below 16590 and is sustained. Then you should Sell with the 1st Target of 16545 for the day with a Stop Loss of 16635. FOR the Target of 16545- 16512- 16474- 16430
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Bank Nifty Futures Prediction for Tomorrow 3 March 2022
Primary Trend of Bank Nifty Futures: Mild Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35800 whereas All Down Moves Initiates Short Covering (Buy) @ 35200
Suppose the Bank Nifty futures Moves Above 35725 and sustain, then you should Buy with the 1st Target of 35835 during the day with a Stop Loss of 35600 the Target of 35835 – 35950 – 36070- 36175
If the Bank Nifty futures Moves Below 35280 and sustain, then you should Sell with the 1st Target of 35190 during the day with a Stop Loss of 35500. FOR the Target of 35190 – 35070 – 34950- (Break Down)- 34380
Global Stock Markets today
On the global front, the other Asian market indexes closed lower on Wednesday as oil prices continue to rise following Russia’s invasion of Ukraine. The Brent crude price touched $113 and WTI at $111 at a multi-year high. Investors remain cautious and fearful about the Ukraine war’s impact on global energy supplies and the economic recovery.
European market indexes are trading higher led by FTSE as the latest sign of strength in the housing market boost the market sentiments. European indexes are trading in the green despite the concerns about the Russia-Ukraine crisis. The US future indexes, Dow and Nasdaq futures are trading higher at 5.30 pm IST.
Conclusion
Indian markets trim some of their early losses in the last hour and closed in the red today. The continuing war between Russia-Ukraine and market volatility has forced the investor to remain cautious. Investors are continuously watching the Russia-Ukraine crisis and crude prices which are dominating the markets at this moment. Weak and new traders should avoid taking any overnight position at present.
Also read: Best Options Trading Books in India-Must Read 2021
Stock Market Prediction next week (28 Feb- 4 March 2022)
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