Nifty and Bank Nifty Prediction for Monday, 2 May 2022
Nifty and Bank Nifty Prediction for Monday, 2 May 2022: Indian equity markets erased all intraday gains in the last hour’s sharp selloff and ended in the red despite positive global cues. The bear took the charge in the last hour of the trading session and wipe out all weekly gains on Friday. Profit booking in the heavyweight stocks like Maruti, Wipro, Tech Mahindra, Reliance, SBI, L&T, and Infosys dragged the markets down. All sectoral indices closed in the red on the last day of the week as investors booked profit ahead of the holiday-shortened next week and the largest Indian IPO.
The market breadth turned weak as advance-decline indicating a ratio of 2:3 at the close. FIIs were the sellers and DIIs were the buyers in the equity cash segment of Friday. FIIs sold Rs 3648.30 crore while DIIs bought Rs 3490.30 crore in the equity segment.
Nifty and Nifty Bank futures price movement on Friday, 29 April ( May Expiry)
On Friday, 29 April, the Nifty futures ( May Series) opened at 17307 levels, it made a positive opening of 46.65 points. It has touched an intraday high at 17399 and a day’s low at 17085.65
The Nifty future has given a movement of 313.35 points on Friday. In the end, it declined 127.35 points or 0.74 percent and ended at 17133 levels.
The Bank Nifty futures (May Series) opened at 36675 levels on the last day of the week. It made a positive opening of 211.4 points on Friday. It has touched an intraday high at 36770.60 and a day’s low at 36039.55
On Friday, the Bank Nifty future gave a movement of 731.05 points. In the end, it was down by 381.30 points or 1.05 percent and closed at 36082.30 levels.
Nifty & Bank Nifty Prediction for Monday, 25 April 2022 (April Expiry)
Nifty Futures Prediction for Monday, 25 April 2022
Primary Nifty Trend in futures: Volatile with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17200 whereas All Down Moves Initiates Short Covering (Buy) @ 16900
If the Nifty futures share price Moves Above 17204 and sustain. Then you should Buy with 1st Target of 17235 during the day with a Stop Loss of 17170 FOR the Target of 17235- 17285-17330- 17360
If the Nifty futures share price Moves Below 17050 and is sustained. Then you should Sell with the 1st Target of 17000 during the day with a Stop Loss of 17090. FOR the Target of 17000- 16950- 16885- 16845
Bank Nifty Futures Prediction for Monday, 25 April 2022
Primary Trend of Bank Nifty Futures: Volatile with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36250, whereas All Down Moves Initiates Short Covering (Buy) @ 35500
Suppose the Bank Nifty futures Moves Above 36221 and sustain, then you should Buy with the 1st Target of 36440 during the day with a Stop Loss of 36090. FOR the Target of 36440 – 36560- 36645- 36740
If the Bank Nifty futures Moves Below 35980 and sustain, then you should Sell with the 1st Target of 35890 during the day with a Stop Loss of 36060 FOR the Target of 35890 – 35776- 35515- 35400
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Global stock market updates
The US markets witnessed a sharp fall in the technology stocks on Friday, dragging the tech-heavy Nasdaq to its worst monthly performance in more than a decade. The rising inflation and fear of interest rate hikes fanned worries of a recession. The Amazon share fell more than 14% after the company posted quarterly losses in seven years.
European market indexes closed higher on Friday despite the slow growth of the economy in the first quarter and higher inflation in the eurozone. European markets reacted positively to the stake sales and other corporate news. The higher commodity prices have also helped to lift the industrial European stocks on Friday.
Conclusions
The US markets were closed in the deep red on Friday, the other Asian markets may follow the negative cues on Monday. The Indian markets may trade negatively on Monday, traders should remain cautious on Monday.
Also read, Stock Market Weekly Analysis- Top Gainers & Losers
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