Nifty and Bank Nifty Prediction for tomorrow, 2 Dec 2021
Nifty and Bank Nifty Prediction for tomorrow, 2 Dec 2021: Indian equity benchmark indices opened higher on Wednesday amid mixed global cues. The markets opened higher due to positive economic data released by the government on Tuesday post-market hours. The market sentiment remained optimistic throughout the day as PMI Manufacturing data reported 10 months high in November. The strong GST collection also boosted the market sentiments today. Buying was witnessed mainly in Banking and Metal stocks, the broader markets also closed in the green today. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 1 Dec (Dec Expiry)
The Nifty futures price opened at 17118.90, making a positive opening of 85.3 points. It has touched an intraday high at 17250 and a day’s low at 17100
The Nifty futures price has given a movement of 150 points today. In the end, it gained 201.40 points or 1.18 percent and ended at 17235 levels.
The Bank Nifty futures opened at 35790. It made a positive opening of 9.8 points today. It has touched an intraday high at 36542.95 and a day’s low at 35790
During the day, the Bank Nifty futures has given a movement of 752.95 points. In the end, it closed higher by points 714.65 points or 2 percent and closed at 36494.85 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 2 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 2 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17340 whereas All Down Moves Initiates Short Covering (Buy) @ 17210
If the Nifty futures share price Moves Above 17252 and sustain. Then you should Buy with 1st Target of 17282 during the day with a Stop Loss of 17219 FOR the Target of 17282- 17312- 17340
If the Nifty futures share price Moves Below 17176 and is sustained. Then you should Sell with the 1st Target of 17135 during the day with a Stop Loss of 17202. FOR the Target of 17135- 17102- 17070
Bank Nifty Futures prediction for Tomorrow, 2 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 36900 whereas All Down Moves Initiates Short Covering (Buy) @ 36400
Suppose the Bank Nifty futures Moves Above 36615 and sustain, then you should Buy with the 1st Target of 36872 during the day with a Stop Loss of 36550. FOR the Target of 36860 – 36970 – 37110
If the Bank Nifty futures Moves Below 36320 and sustain, then you should Sell with the 1st Target of 36212 during the day with a Stop Loss of 36430. FOR the Target of 36212 – 36140 – 36020
Global markets today
On the global front, Asian markets closed mostly in the green today as markets were oversold and over-digested Omicron and on optimism with the US Federal Reserve’s attempt to fight the inflation risks. European markets are trading higher on Wednesday as the shares rebounded once again amid Covid-Omicron volatility. The US futures, Dow, and Nasdaq futures are trading positive after yesterday’s sell-off.
Conclusions
Indian stock market indexes closed higher after yesterday’s selloff. Markets gained due to strong economic data and with the support of the positive global market. Buying interest in banking and metal stocks has also supported the market sentiments today.
Going ahead market may trade positively tomorrow but again depends on the global market cues. Traders need to be cautious and trade with strict stop loss.
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