Nifty & Bank Nifty Prediction for Tomorrow, 5 Jan 2022
Nifty & Bank Nifty Prediction for Tomorrow, 5 Jan 2022: Indian equity benchmark indices opened higher on Tuesday tracking positive cues from the global markets. The indices erased their early gains and immediately rebounded and later closed in the positive zone today. Markets gained with the support of strong economic data and FIIs buying in the cash segment. Heavy buying witnessed in the PSU Banking and Energy stocks today The broader markets also closed in the green. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 4 Jan (Jan Expiry)
The Nifty futures price opened at 17730, making a positive opening of 52.05 points. It has touched an intraday high at 17870.80 and a day’s low at 17632.40
The Nifty futures price has given a movement of 238.4 points today. In the end, it gained 177.20 points or 1 percent and ended at 17855.15 levels.
The Bank Nifty futures opened at 36700, It made a positive opening of 117.55 points today. It has touched an intraday high at 37023.40 and a day’s low at 36492.10
During the day, the Bank Nifty futures has given a movement of 531.3 points. In the end, it closed higher by 406.55 points or 1.11 percent and closed at 36989 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 5 Jan 2022 (Jan Expiry)
Nifty Futures prediction for Tomorrow, 5 Jan 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17950 whereas All Down Moves Initiates Short Covering (Buy) @ 17820
If the Nifty futures share price Moves Above 17865 and sustain. Then you should Buy with 1st Target of 17894 during the day with a Stop Loss of 17828 FOR the Target of 17894- 17927- 17970
If the Nifty futures share price Moves Below 17795 and is sustained. Then you should Sell with the 1st Target of 17760 during the day with a Stop Loss of 17815. FOR the Target of 17760- 17702- 17680
Bank Nifty Futures prediction for Tomorrow, 5 Jan 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37200 whereas All Down Moves Initiates Short Covering (Buy) @ 36750
Suppose the Bank Nifty futures Moves Above 37081 and sustain, then you should Buy with the 1st Target of 37218 during the day with a Stop Loss of 37000 the Target of 37218 – 37320 – 37460
If the Bank Nifty futures Moves Below 36812 and sustain, then you should Sell with the 1st Target of 36715 during the day with a Stop Loss of 36890. FOR the Target of 36715 – 36630 – 36490
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Global markets today
On the global front, Asian markets closed higher on Tuesday despite worries that rising covid cases could put a brake on global economic recovery. China’s private PMI suggests the fastest pace of growth in 6 months, Japan’s, South Korea’s factory activity continued to expand.
European market indexes are trading higher on Tuesday as travel stocks were in focus. Investors bet on the travel-related stocks in hopes that further curbs may not be required to deal with the Omicron Covid variants. The US future indexes, Dow and Nasdaq futures are trading higher at this time at 5 pm IST.
Conclusions
Indian stock market indexes closed higher for the third consecutive day in a row with the support of positive global cues and FIIs buying. Indian markets are trading higher despite a spike in covid cases, further increase in covid cases can increase volatility in the markets. Technically, the market is looking positive but traders should remain cautious at higher levels.
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