Nifty and Bank Nifty Prediction for Monday 1 August 2022
Nifty and Bank Nifty Prediction for Monday 1 August 2022: Indian equity markets made a gap-up opening on Friday amid positive cues from the US markets overnight. The market sentiments were positive, as investors are in hope that the US Fed may go less aggressive in interest rate hikes next time, as the GDP number shrunk for the second consecutive quarter. Among the sectors barring PSU Banks, all other sectoral indices closed higher led by the Metals, Oil & Gas, and IT
At the close, the benchmark indices, Sensex and Nifty closed higher by 1.25 percent and 1.35 percent respectively. The broader markets outperformed the benchmarks, as the Nifty mid and small-cap indexes gained 1.42 percent and 1.70 respectively. The market breadth was quite strong with the “advance-decline” indicating a ratio of 5:2 at the close on Friday. FIIs were the net buyers in the equity cash segment, they bought Rs 1046.32 crore while DIIs sold only Rs 0.91 crore on Friday.
Nifty and Nifty Bank futures price movement on Friday, 29 July ( July Expiry)
On Friday, July 29, the Nifty futures (Aug Series) opened at 17095 levels, it made a positive opening of 139.8 points. It has touched an intraday high at 17222.95 and a day’s low at 17055.90
The Nifty future has given a movement of 167.05 points on Friday. In the end, it gained 256.80 points or 1.51 percent and ended at 17212 levels.
The Bank Nifty futures (Aug Series) opened at 37740.50 levels on the last day of the week. It made a positive opening of 318.05 points on Friday. It has touched an intraday high at 37800 and a day’s low at 37282.50
On Friday, the Bank Nifty future gave a movement of 517.5 points. At the close, it was up by 159.05 points or 0.43 percent and closed at 37581.50 levels.
Nifty & Bank Nifty Prediction for Monday 1 August 2022 (Aug Expiry)
Nifty Futures Prediction for Monday 1 August 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17350 whereas All Down Moves Initiates Short Covering (Buy) @ 17150
If the Nifty futures share price Moves Above 17255 and sustain. Then you should Buy with 1st Target of 17284 during the day with a Stop Loss of 17205 FOR the Target of 17284- 17314-17336- 17370
If the Nifty futures share price Moves Below 17154 and is sustained. Then you should Sell with the 1st Target of 17118 during the day with a Stop Loss of 17190. For the Target of 17118- 17084- 17040- 17008
Bank Nifty Futures Prediction for Monday 1 August 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37900, whereas All Down Moves Initiates Short Covering (Buy) @ 37300
Suppose the Bank Nifty futures Moves Above 37675 and sustain, then you should Buy with the 1st Target of 37835 during the day with a Stop Loss of 37550. For the Target of 37835 – 37945- 38030- 38110
If the Bank Nifty futures Moves Below 37250 and sustain, then you should Sell with the 1st Target of 37130 during the day with a Stop Loss of 37425. For the Target of 37130 – 37000- 36897- 36735
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Global stock market updates
The US stock market indexes closed higher across the board on Friday, as gains in the oil & gas, consumer services, and basic materials sectors led the shares higher. The slow economic growth has taken the investors in their comfort zone, as they are in hope that Fed could slow down or stop the interest rate hikes in the next meeting. The positive quarterly earnings also boosted the US market sentiments on Friday.
European markets closed higher on Friday on optimistic earnings and better-than-expected GDP growth. The fresh data released on Friday showed the eurozone economy grew by 0.7% QoQ, much faster than expected in the second quarter. However, the upside of the market was capped, as the latest survey showed that eurozone inflation rose to a record in July.
Conclusions
Indian equity markets ended higher for the third consecutive day on Friday. The favorable global cues and FIIs inflow lifted the market sentiments. On Friday, the key indices closed near their day’s high, technically markets are bullish and ready for a further up move.
To know the market events for next week you can read our key factors that are likely to impact the market in next week’s report today late evening.
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