Nifty | Bank Nifty Prediction for Tomorrow, 30 Dec 2021
Nifty and Bank Nifty Prediction for Tomorrow, 30 Dec 2021: Indian equity market indices opened slightly lower on Wednesday amid negative cues from the global markets. Markets traded in a narrow range throughout the day. In the end, the key benchmark indices closed marginally lower today. On a sectoral basis, only Pharma and Auto sectors tried to lift the market indexes today. The broader markets end marginally higher, as Nifty midcap and smallcap indexes were closed in the green. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 29 Dec (Dec Expiry)
The Nifty futures price opened at 17238, making a negative opening of 8.75 points. It has touched an intraday high at 17287 and a day’s low at 17186.05
The Nifty futures price has given a movement of 100.95 points today. In the end, it declined 47.75 points or 0.28 percent and ended at 17199 levels.
The Bank Nifty futures opened at 35201.25. It made a negative opening of 20 points today. It has touched an intraday high at 35398 and a day’s low at 34906.15
During the day, the Bank Nifty futures has given a movement of 491.85 points. In the end, it closed lower by 293.85 points or 0.83 percent and closed at 34927.40 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 30 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 30 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17340 whereas All Down Moves Initiates Short Covering (Buy) @ 17180
If the Nifty futures share price Moves Above 17255 and sustain. Then you should Buy with 1st Target of 17285 during the day with a Stop Loss of 17215 FOR the Target of 17285- 17310- 17347
If the Nifty futures share price Moves Below 17175 and is sustained. Then you should Sell with the 1st Target of 17145 during the day with a Stop Loss of 17197. FOR the Target of 17145- 17097- 17060
Bank Nifty Futures prediction for Tomorrow, 30 Dec 2021
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35150 whereas All Down Moves Initiates Short Covering (Buy) @ 34700
Suppose the Bank Nifty futures Moves Above 35075 and sustain, then you should Buy with the 1st Target of 35170 during the day with a Stop Loss of 35020. FOR the Target of 35170 – 35210 – 35290
If the Bank Nifty futures Moves Below 34850 and sustain, then you should Sell with the 1st Target of 34735 during the day with a Stop Loss of 34960. FOR the Target of 34735 – 34665 – 34575
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On the global front, Asian markets closed mixed on Wednesday following the mixed cues overnight from Wall Street amid ongoing concerns about the impact of the new covid variants omicron on the economic growth.
European markets opened higher on Wednesday and are trading mixed at this time. The UK’s FTSE is trading almost 1 percent higher after a long holiday. It is expected to be a quiet session with little corporate news and economic data to drive markets. The US future indexes, Dow and Nasdaq futures are trading marginally higher at this time at 5 pm IST
Conclusions
Indian stock markets took a pause after a two-day consecutive rally. Indian markets moved in a narrow range due to a lack of investors participation ahead of a year-end. Today markets witnessed profit-taking in metals and PSU banking space whereas buying was seen mainly in pharma stocks. Tomorrow is the monthly F&O expiry, traders need to be cautious as markets are likely to remain volatile.
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