Nifty and Bank Nifty Prediction for Monday 4 July 2022
Nifty and Bank Nifty Prediction for Monday 4 July 2022: Indian equity markets witnessed a gap-down opening on Friday and fell sharply amid negative global cues in the morning deal. The weak PMI manufacturing data and the introduction of additional export tax on petrol, diesel, and aviation fuel weighed on the market sentiments. The heavyweight stock Reliance Industries dagged more than 7 percent on Friday.
However, the markets recovered most of their intraday losses as sentiments improved after the announcement of GST revenue collections, which stood at 1.45 lakh crore, and grew 56% on YoY. Barring Oil & Gas all other sectors closed higher led by FMCG, Banking, and IT. The market breadth was quite positive with the advance and decline indicating a ratio of 3:2 at the close.
The broader markets outperformed the benchmarks as Nifty mid and smallcap indexes closed higher by 0.51 percent and 0.38 percent respectively. In the end, Sensex and Nifty fell marginally lower by 0.21 percent and 0.18 percent respectively on the first day of the July series.
Nifty and Nifty Bank futures price movement on Friday, 01 July (July Expiry)
On Friday, July 01, the Nifty futures (July Series) opened at 15704 levels, it made a negative opening of 40.35 points. It has touched an intraday high at 15787.25 and a day’s low at 15513.90
The Nifty future has given a movement of 273.35 points on Friday. In the end, it gained 30.25 points or 0.19 percent and ended at 15774.60 levels.
The Bank Nifty futures (July Series) opened at 33244.70 levels on the last day of the week. It made a negative opening of 152.25 points on Friday. It has touched an intraday high at 33740 and a day’s low at 33131.55
On Friday, the Bank Nifty future gave a movement of 608.45 points. In the end, it was up by 338 points or 1.01 percent and closed at 33734.95 levels.
Nifty & Bank Nifty Prediction for Monday 4 July 2022 (July Expiry)
Nifty Futures Prediction for Monday 4 July 2022
Primary Nifty Trend in futures: Mild Negative with a cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 15900 whereas All Down Moves Initiates Short Covering (Buy) @ 15600
If the Nifty futures share price Moves Above 15818 and sustain. Then you should Buy with 1st Target of 15858 during the day with a Stop Loss of 15770 FOR the Target of 15858- 15890-15928- 15976
If the Nifty futures share price Moves Below 15716 and is sustained. Then you should Sell with the 1st Target of 15680 during the day with a Stop Loss of 15755. FOR the Target of 15680- 15650- 15605- 15575
Bank Nifty Futures Prediction for Monday 4 July 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) @ 33900, whereas All Down Moves Initiates Short Covering (Buy) @ 33500
Suppose the Bank Nifty futures Moves Above 33650 and sustain, then you should Buy with the 1st Target of 33818 during the day with a Stop Loss of 33480. FOR the Target of 33818 – 33925- 34040- 34150
If the Bank Nifty futures Moves Below 33330 and sustain, then you should Sell with the 1st Target of 33215 during the day with a Stop Loss of 33415. FOR the Target of 33215 – 33095- 32970- 32840
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Global stock market updates
The US stock market indexes closed higher on Friday, kicking off its worst first half in any year since 1970. In the morning deal, markets slide as fresh data showed that US manufacturing activities slowed more than expected in the month of June. Later the markets erased their early losses and closed in the green on Friday but made a negative close on a weekly basis.
The government bond yields fell, continuing to pull back from mid-June highs, as traders assess whether the Fed might ease away from its aggressive path of interest rate hikes later in the month of July.
European markets finished the first trading session of the second half of the year 2022 on the front foot. The markets recovered in the second half of Friday’s session despite ongoing concerns around the outlook for economic activity as central banks tighten policy. The global manufacturing activities struggled in June. The fresh factory activity data showed that the eurozone manufacturing activities fell for the first time in two years.
Conclusions
Indian markets erased all intraday losses and closed marginally lower on Friday. Other than the weak global cues, the domestic news influenced the local markets on Friday and increase the volatility. The US and European markets closed positive on Friday and are good for the domestic markets on Monday. The US markets will remain close on Monday due to the Independence Day Celebration.
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