Nifty and Bank Nifty Prediction for Monday 30 May 2022
Nifty and Bank Nifty Prediction for Monday 30 May 2022: Indian equity markets extended their previous sessions’ gain on Friday and closed more than a percent higher amid positive global cues. The strong earnings in the US boosted the beaten-down technology shares globally. The Bank Nifty index continued its upward move, indicating a further up move now. Among the sectors baring Energy and Metals all other sectoral indices closed higher, led by IT Media, Auto, Banking, and Financial Services.
The broader markets were also closed in the green in line with their larger peers. The market breadth was quite strong with the advance-decline indicating a ratio of 3:1 at the close. FIIs were the sellers and DIIs were buyers in the equity cash segment. FIIs sold Rs 1943.10 crore while DIIs bought Rs 2727.47 crores in the cash segment on Friday.
Nifty & Nifty Bank futures price movement on Friday, 27 May ( June Expiry)
On Friday, May 27, the Nifty futures ( June Series) opened at 16300.05 levels, it made a positive opening of 131.95 points. It has touched an intraday high at 16349.10 and a day’s low at 16201.05
The Nifty future has given a movement of 148.05 points on Friday. In the end, it gained 169.90 points or 1.05 percent and ended at 16338 levels.
The Bank Nifty futures (June Series) opened at 35398 levels on the last day of the week. It made a positive opening of 232.2 points on Friday. It has touched an intraday high at 35725 and a day’s low at 35308
On Friday, the Bank Nifty future gave a movement of 417 points. In the end, it was up by 479.20 points or 1.36 percent and closed at 35645 levels.
Nifty & Bank Nifty Prediction for Monday 30 May 2022 (June Expiry)
Nifty Futures Prediction for Monday, 30 May 2022
Primary Nifty Trend in futures: Positive with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16550 whereas All Down Moves Initiates Short Covering (Buy) @ 16250
If the Nifty futures share price Moves Above 16365 and sustain. Then you should Buy with 1st Target of 16412 during the day with a Stop Loss of 16325 FOR the Target of 16412- 16448-16495- 16550
If the Nifty futures share price Moves Below 16290 and is sustained. Then you should Sell with the 1st Target of 16258 during the day with a Stop Loss of 16314. FOR the Target of 16258- 16212- 16168- 16130
Bank Nifty Futures Prediction for Monday 30 May 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36100, whereas All Down Moves Initiates Short Covering (Buy) @ 35500
Suppose the Bank Nifty futures Moves Above 35775 and sustain, then you should Buy with the 1st Target of 35865 during the day with a Stop Loss of 35570. FOR the Target of 35865 – 36020- 36165- 36240
If the Bank Nifty futures Moves Below 35400 and sustain, then you should Sell with the 1st Target of 35280 during the day with a Stop Loss of 35515. FOR the Target of 35280 – 35175- 35035- 34825
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Global stock market updates
The US market indexes rallied sharply on Friday as data released showed better than expected consumer spending and appeared to confirm that inflation has peaked. The strong earnings, corporate outlook, and solid economic indicators have fueled hopes that Fed’s may not aggressive rate hikes and will not cool the economy into contraction. The US markets will be closed on Monday, 30 May on account of Memorial Day.
European markets extended their gains on Friday on the back of a rally in the US markets and taking cues from positive Asian markets. Investors have become more comfortable with the central bank’s efforts to control inflation. The better than expected US data and easing bets about aggressive interest rate hikes lifted the market sentiments on Friday.
Conclusions
Indian markets ended higher for the second consecutive day on Friday. The domestic markets gained with the support of positive global cues. Further, receding foreign institutional investors (FIIs) selling pressure in the Indian equity markets also provided comfort to the Indian markets and reduced volatility. Going ahead, the market is looking positive in the near term but traders need to remain cautious.
Also read, Best Options Trading Books in India-Must Read 2021
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