Nifty | Bank Nifty prediction for tomorrow 1 Feb
Key factors to impact markets next week, Nifty and Bank Nifty prediction for tomorrow 1 Feb 2021
Nifty, and Bank Nifty prediction for tomorrow 1 Jan 2021: Indian equity markets are trading volatile for the last 5 days as traders and investors have become cautious ahead of the Union Budget 2021. Foreign Institutional Investors were turned sellers these days. Market experts are analyzing sectors and stocks that may get benefitted due to the Budget 2021. The Union Budget will be presented on 1st February by Finance Minister Nirmala Sitharam.
On Budget day we may see the height of volatility. The global markets are not in favor, the Asian markets may open negative on Monday due to the fall in the US markets on last Friday. The global cues, Auto sales number, PMI manufacturing data can make the market highly volatile ahead of the Union Budget 2021 presentation to the parliament on Monday.
Stock market events for next week
The Indian equity markets have two important events in the next week. On 1st February the Union Budget 2021 and on 5th February the RBI Monetary policy. Other than these two events the market will also react to Auto Sales number, Service and Manufacturing PMI number, and the third quarterly earnings. The schedule for the announcement of microeconomic data is given below
| Macro Data Next Week | |
| 1 Feb 2021 | PMI Manufacturing data |
| 1 Feb 2021 | Union Budget 2021 |
| 3 Feb 2021 | Service PMI |
| 5 Feb 2021 | RBI Monetary Policy |
| 5 Feb 2021 | Foreign Exchange Reserve |
Nifty and Bank Nifty prediction for tomorrow 1 Feb ( Feb Expiry)
Nifty futures prediction for tomorrow 1 Feb ( Feb Expiry)
Primary Trend of Nifty futures for 1 Feb: Volatile
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 13925 whereas All Down Moves Initiates Short Covering (Buy) @ 13400
If Nifty share price in futures Moves Above 13810 and sustain. Then you should Buy with 1st Target of 13845 during the day or week with a Stop Loss of 13590 FOR the Target of 13845- 13885- 13925- 14009
Suppose Nifty share price in futures Moves Below 13590 and sustain. Then you should Sell with the 1st Target of 13530 during the day or week with a Stop Loss of 13810. FOR the Target of 13530- 13450- 13380-13326
Bank Nifty prediction for tomorrow 1 Feb ( Feb Expiry)
Primary Trend of Bank Nifty future for tomorrow 1 Feb ( Feb Expiry): Volatile
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 31200, whereas All Down Moves Initiates Short Covering (Buy) @ 30000
If Bank Nifty share price in the futures Moves Above 30980 and sustain. Then you should Buy with the 1st Target of 31150 during the day with a Stop Loss of 30400. FOR the Target of 31160 – 31450- 31690- 32170
If Bank Nifty shares price in the future Moves Below 30400 and sustained. Then you should Sell with the 1st Target of 30225 during the day with a Stop Loss of 30980. FOR the Target of 30225 -30030 – 29810- 29330
Quarterly Earnings for next week
There are a total of five Nifty50 companies that will announce their third quarterly results in the next week. The schedule is given below
| Q3 Results dates for Nifty50 Stocks | |
| 2 Feb | HDFC |
| 3 Feb | Bharti Airtel |
| 4 Feb | Hero Motorcop |
| 4 Feb | SBI |
| 5 Feb | Britannia Industries |
FII & DIIs investment in Indian stock markets
On a weekly basis, Foreign Institutional Investors (FIIs) sold Rs 12096.69 crores while DIIs bought Rs 3788.98 crores in the cash market. FIIs started selling or booking profits in the markets just a week ahead of the Union Budget 2021. If FIIs continue to sell in the cash market then we may see some deep correction in the market. This can only be avoided if DIIs buy equal or more than Foreign Institutional Investors.
Global market cues
The global market cues will take a back seat in the coming week. The domestic events will drive the Indian equity market next week. The global macroeconomic data that are going to announce in the coming week are given below;
| Important Global Macro Data Next Week | ||
| 1st Feb 2021 | Jibun Bank Manufacturing PMI | Japan |
| Caixin Manufacturing PMI | China | |
| Manufacturing PMI | GB/US | |
| 3rd Feb 2021 | Service PMI | Japan/China/US/GB |
| 4th Feb 2021 | Monetary Policy | GB |
| 5th Feb 2021 | Unemployment rate | US |
Conclusions:
Traders should remain cautious tomorrow and avoid trading. If you are following our Nifty and bank Nifty prediction for tomorrow 1 Feb then you should trade with the strict stop loss mentioned above.
You may also like to read, Intraday Trading books to make money from Stock Markets
Union Budget 2021- Here’s what you can expect
Happy Investing!!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and only for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
