Nifty and Bank Nifty Prediction for Tomorrow 4 March 2022
Nifty and Bank Nifty Prediction for Tomorrow 4 March 2022: Indian equity markets opened higher on Thursday tracking positive cues from the global markets. Indian key indices, Sensex and Nifty erased their early gains and turned negative in the afternoon session due to the surge in crude oil prices. Indian markets witnessed selling pressure in auto, banking, and financial stocks whereas, metal stocks continue to gain due to the geopolitical tension.
The broader markets closed in the mixed today. In the end, the Nifty was down 0.65 levels and managed to close near the psychological level of 16500. You can read the detailed market updates here.
Nifty and Nifty Bank futures price movement for 3 March (March Expiry)
The Nifty futures price opened at 16741, making a positive opening of 127.55 points. It has touched an intraday high of 16769.75 and a day’s low at 16445.10
The Nifty futures price has given a movement of 324.65 points today. In the end, it closed lower by 86.35 points or 0.52 percent and ended at 16527.10 levels.
The Bank Nifty futures opened at 35749, It made a positive opening of 285.6 points. The Bank Nifty futures has touched an intraday high at 35867.80 and a day’s low at 34811.50
During the day, the Bank Nifty futures has given a movement of 1056.3 points. In the end, it closed lower by 408.40 points or 1.15 percent and closed at 35055 levels.
Nifty & Bank Nifty Prediction for Tomorrow 4 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 4 March 2022
Primary Nifty Trend in futures: Mild Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16600 whereas All Down Moves Initiates Short Covering (Buy) @ 16380
If the Nifty futures share price Moves Above 16550 and sustain. Then you should Buy with 1st Target of 16574 during the day with a Stop Loss of 16513 FOR the Target of 16574- 16610- 16650- (Break Out)- 16702
If the Nifty futures share price Moves Below 16470 and is sustained. Then you should Sell with the 1st Target of 16446 for the day with a Stop Loss of 16502. FOR the Target of 16446- 16380- (Break Down)-16340- 16290
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Bank Nifty Futures Prediction for Tomorrow 4 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) @ 35200 whereas All Down Moves Initiates Short Covering (Buy) @ 34700
Suppose the Bank Nifty futures Moves Above 35070 and sustain, then you should Buy with the 1st Target of 35210 during the day with a Stop Loss of 34940 the Target of 35210 – 35330 – 35510- 35720
If the Bank Nifty futures Moves Below 34880 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 -( Break Down)- 34470 – 34290- 34080
Global Stock Markets today
On the global front, the other Asian market indexes closed mostly higher on Thursday amid positive cues from the US market indexes overnight. Asian stocks gained on the back of Federal Reserve Chief Jerome Powell hints that interest rates will hike gradually to fight inflation. The upside remained capped as investors fear the higher crude oil prices due to the Ukraine crisis may increase inflation
European market indexes slipped into the red after opening flat, as investors are concerned about the higher crude oil price. The sanctions imposed on Russia over its invasion of Ukraine fuelled worries about supply disruption. The US future, Dow Jones, and Nasdaq futures are trading flat to the negative at 5 pm IST.
Conclusion
Indian markets remained volatile and closed in the red on Thursday. Positive global cues supported the markets to open higher in the morning session but traders become cautious and prefer to book profit due to rising crude oil prices. Going ahead the Indian markets will remain bearish in the short term amid the war situation and rising crude oil prices. Traders should remain cautious and keep strict stop losses to their positions.
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