Nifty and Bank Nifty Prediction for Monday 7 March 2022: Indian equity markets opened a gap-down on Friday after the news of the Russian attack at the largest nuclear power station in Ukraine. Indian markets witnessed a sharp selloff in the morning deal across the board. The selling pressure was witnessed in heavyweight stocks like Reliance, Axis Bank, and HDFC Ltd. In the afternoon session, the market got some support and trim intraday losses, as the country’s services activities improved in February as per PMI Services data.
The market breadth ended negative with the advance/decline ratio being 1:4 at the close. FIIs were the sellers and DIIs were the buyers in the cash market segment on the last day of the week. FIIs sold Rs 7631.02 crore while DIIs bought Rs 4738.99 crore on Friday.
Nifty & Nifty Bank futures price movement on Friday, March 4 (March Expiry)
On Friday, 4 March, the Nifty futures ( March Series) opened at 16305.10 levels, it made a gap-down opening of 200.5 points. It has touched an intraday high at 16479.35 and a day’s low at 16152
The Nifty future has given a movement of 327.35 points on Friday. In the end, it fell 240.70 points or 1.46 percent and ended at 16264.90 levels.
The Bank Nifty futures (March Series) opened at 34666.60 levels on the last day of the week. It made a gap-down opening of 374.5 points on Friday. It has touched an intraday high at 35172 and a day’s low at 34153.50
On Friday, the Bank Nifty future gave a movement of 1018.5 points. In the end, it declined by 615.15 points or 1.76 percent and closed at 34425.95 levels.
Nifty & Bank Nifty Prediction for Monday 7 March 2022 (March Expiry)
Nifty Futures Prediction for Monday 7 March 2022
Primary Nifty Trend in futures: Mild Positive with a Cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16350 whereas All Down Moves Initiates(Buy) @ 16100
If the Nifty futures share price Moves Above 16292 and sustain. Then you should Buy with 1st Target of 16320 during the day with a stop loss of 16265 FOR the Target of 16320- 16354- 16407-16447
If the Nifty futures share price Moves Below 16215 and is sustained. Then you should Sell with the 1st Target of 16160 during the day with a Stop Loss of 16240. FOR the Target of 16160- 16135- 16090- 16038
Bank Nifty Futures Prediction for Monday 7 March 2022
Primary Trend of Bank Nifty Futures: Mild Positive with Cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34750, whereas All Down Moves Initiates Short Covering (Buy) @ 33900
Suppose the Bank Nifty futures Moves Above 34640 and sustain, then you should Buy with the 1st Target of 34790 during the day with a Stop Loss of 34490. FOR the Target of 34790 – 34960 – 35080- 35175
If the Bank Nifty futures Moves Below 34290 and sustain, then you should Sell with the 1st Target of 34200 during the day with a Stop Loss of 34415. FOR the Target of 34200 – 34120- 34050- 33920
Global stock market updates
European markets fell sharply on Friday after the news that the Ukrainian nuclear power plant was shelled by the Russian troops and setting a building in the complex of fire. The fire was later extinguished and as per the report, it was operating normally with no damage to the reactor. Investors are now concerned about the surge in crude oil prices. The rise in commodities and supply chain disruptions have already impacted some production units in Europe.
The US markets declined despite strong hiring and low unemployment data released on Friday as investors continued to monitor for global economic fallout from Russia’s war in Ukraine. The selling pressure in the US markets increased with the report that the US may consider a ban on Russian crude oil imports, to further punish Russia for its invasion of Ukraine.