Nifty and Bank Nifty Prediction for Monday 31 Jan 2022
Nifty and Bank Nifty Prediction for Monday, 31 Jan 2022: Indian stock markets gave up all intraday gains and closed flat to the negative on Friday. The broader markets outperformed the benchmarks on the last day of the week, as Nifty midcap and smallcap indexes gained 1.5 percent and 0.95 percent respectively. The IT and Pharma stocks gained while selling witnessed in Banking and Financial stocks on Friday.
Investors were worried about the Fed’s hawkish comments and overlooked the strong US GDP growth on Friday. FIIs continued their selling spree whereas DIIs were buyers in the cash segment on Friday, 28 January.
You can read Friday’s market updates here and weekly stock market analysis here
Nifty & Nifty Bank futures price movement on Friday, 28 January (Feb Expiry)
On Friday, 28 January, the Nifty futures (February series) opened at 17200 levels, it made a positive opening of 50.45 points. It has touched an intraday high at 17395 and a day’s low at 17095
The Nifty future has given a movement of 300 points on Friday. In the end, it declined by 22.80 points only or 0.13 percent and ended at 17126.75 levels.
The Bank Nifty futures (February series) opened at 38469.70 levels on the last day of the week. It made a gap-up opening of 301.65 points on Friday. It has touched an intraday high at 38550 and a day’s low at 37716.65
On Friday, the Bank Nifty future gave a movement of 833.35 points. In the end, it declined by 368.05 points or 0.96 percent and closed at 37800 levels.
Nifty & Bank Nifty Prediction for Monday, 31 Jan 2022 (Feb Expiry)
Nifty Futures Prediction for Monday, 31 Jan 2022
Primary Nifty Trend in futures: Volatile
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17250 whereas All Down Moves Initiates Short Covering (Buy) @ 17020
If the Nifty futures share price Moves Above 17154 and sustain. Then you should Buy with 1st Target of 17185 during the day with a Stop Loss of 17132 FOR the Target of 17185- 17208- 17247- 17275
If the Nifty futures share price Moves Below 17070 and is sustained. Then you should Sell with the 1st Target of 17056 during the day with a Stop Loss of 17109. FOR the Target of 17056- 17026- 16995- 17956
Bank Nifty Futures Prediction for Monday, 31 Jan 2022
Primary Trend of Bank Nifty Futures: Volatile
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 38300, whereas All Down Moves Initiates Short Covering (Buy) @ 37650
Suppose the Bank Nifty futures Moves Above 37922 and sustain, then you should Buy with the 1st Target of 38020 during the day with a Stop Loss of 37850. FOR the Target of 38020 – 38185 – 38320- 38428
If the Bank Nifty futures Moves Below 37700 and sustain, then you should Sell with the 1st Target of 37580 during the day with a Stop Loss of 37810. FOR the Target of 37580 – 37475 – 37405- 37275
Global stock market updates
European markets closed in the red on Friday as auto and technology stocks led to declines amid the prospect of higher interest rates. The growing concern over the situation in Russia and Ukraine also dampened the market sentiments. The economic data released was mixed, as Germany’s GDP contracted in Q4 while Spain and France post GDP growth. As per the survey consumer sentiments in the region deteriorated in January.
The US stock market indexes made a sharp rally on Friday after an initial fall, as the market got support from the strong quarterly earnings from Apple and other big companies. Friday’s rally helped the US market indexes to erased the weekly losses and snap the three-week losing streak. The tech-heavy Nasdaq gained the most, was up 3% on the last day of the week.
Conclusions
Indian stock markets ended lower for the second consecutive week in a row on Friday. It was a highly volatile week for the Indian markets where the Nifty swings more than 700 points. In the coming week also Indian markets will remain volatile due to Union Budget, Global cues, and other economic data during the week.
Tomorrow, you can follow “Key Factors to Impact the Indian Stock Market next week” on our website to know the market direction.
Also read, Weekly Stock Market Analysis -24 Jan – 28 Jan 2022
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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