Nifty and Bank Nifty Prediction for Monday 3 July 2023: Indian fairness market indexes ended with stable good points on Friday. The market sentiments had been optimistic as a consequence of sturdy FIIs influx, progress within the monsoon, and optimistic international cues. The Sensex and Nifty opened larger and marched within the northward path because the session progressed and closed close to the day’s excessive. The home indices, Sensex, Nifty 50, and Bank Nifty closed at contemporary new report highs on Friday.  Barring Metal all different sectoral indices closed within the inexperienced. 

The market breadth was sturdy with the advance and decline indicating a ratio of two:1 on the shut. The broader markets additionally superior following their bigger friends, as nifty mid and smallcap indexes gained 0.66 p.c and 0.46 p.c respectively. At the shut, Sensex and Nifty jumped 1.26 p.c and 1.14 p.c respectively on Friday.

Nifty and Nifty Bank futures value motion on Friday, 30 June 

On Friday 30 June, the Nifty futures (July Series) opened at 19082 degree, it made a optimistic opening of 9.55 factors from the earlier shut. It touched an intraday excessive at 19273.15 and a day’s low at 19082

The Nifty futures have given a motion of 191.15 factors on Friday. In the top, it closed larger by 198.35 factors or 1.04 p.c and ended at 19270.80 ranges.

The Bank Nifty futures (July Series) opened at 44625.50 ranges on the final day of the week. It made a optimistic opening of 178.05 factors on Friday. It has touched an intraday excessive at 44893.15 and a day’s low at 44551.10

On Friday, the Bank Nifty futures gave a motion of 342.05 factors. At the shut, it ended larger by 412.55 factors or 0.93 p.c and closed at 44860 ranges.

Nifty & Bank Nifty Prediction for Monday 3 July 2023 (July Expiry)

Nifty Futures Prediction for Monday 3 July 2023

Primary Nifty Trend in Futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves can provoke Profit Booking  @ 19350 whereas All Down Moves can provoke Short Covering @ 19200

If the Nifty futures share value Moves Above 19315 and sustains. Then it might probably contact the first Target of 19344 throughout the day with a Stop Loss of 19270 FOR the Target of 19344- 19380- 19418

If the Nifty futures share value Moves Below 19200 and is sustained. Then it might probably contact the first Target of 19157 throughout the day with a Stop Loss of 19230. For the Target of 19157- 19131- 19090

Bank Nifty Futures Prediction for Monday 3 July 2023

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves can Initiates Profit Booking @ 45250, whereas All Down Moves can Initiate Short Covering @ 44800

Suppose the Bank Nifty futures Moves Above 45020 and maintain, then it might probably contact the first Target of 45130 throughout the day with a Stop Loss of  44920. For the Target of 45130- 45215- 45300

If the Bank Nifty futures Moves Below 44640 and maintain, then the index can contact the first Target of 44555 throughout the day with a Stop Loss of 44725. For the Target of  44555- 44480- 44400

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Global inventory market updates

The US inventory markets completed larger on Friday, ending the final buying and selling session of the primary half of 2023 on a powerful word. The market sentiments had been bullish after the contemporary information exhibiting inflation cooled down greater than anticipated. 

The information launched on Friday confirmed weaker-than-expected client spending which has additionally eased the priority that Fed is more likely to lean hawkish within the July assembly. Tech shares rallied after the inflation information, the share value of Apple gained greater than 2% and closes above $3T on Friday.

European inventory market indexes closed larger on Friday as eurozone inflation fell greater than anticipated in June. The Eurozone June inflation information got here at 5.5% because of the affect of the ECB’s financial coverage tightening however stays above the two% goal. 

The Pan-European Stoxx 600 index gained 1.2% on Friday, as all main sectors ended within the optimistic territory together with banks, chemical compounds, insurance coverage, and retail gained over 1%. On a half-yearly foundation, the index gained over 8% regardless of rate of interest hikes, banking failure, and different uncertainties within the area

Conclusions

Indian inventory markets ended on a powerful word close to the day’s excessive on Friday. The optimistic financial information launched on Friday, within the US additionally lifted international sentiments. We really feel the optimistic momentum is more likely to proceed within the Indian markets and the indices will make new report highs on Monday. You can even comply with our Daily Morning Report at 7.30 am IST to know the market path.

Also, read- Global Stock Market – Nasdaq hits biggest half-yearly gain in 40 years

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