Nifty & Bank Nifty future share price target for 10th Jan

 

Nifty and Bank Nifty for 10th Jan: The Indian stock market opened positive today and later extended its early gains and closed in strong note. The market gained on rupee appreciation, correction in crude price and ease in US-Iran tension.

The Nifty future share price opened today at 12181.15, it was up by 117.65 points from the previous close. It has touched an Intraday high at 12279.30 and a day’s low at 12168.25.

During the day the Nifty future share price has given a movement of 111.05 points. In the end it gained 207.50 points and closed at 12271.

The Bank Nifty future share price opened at 31801level, it was up by 356.95 points from the previous closing. It has touched an Intraday high at 32,200 and a day’s low at 31760.15.

On an intraday basis, the Bank Nifty future share price has given a movement of 439.85 points. In the end, it gained 705.70 points and closed at 32149.70.

Both the Indices closed near the day’s high today.

 

Nifty & Bank Nifty future share price for 10th Jan 2020

Primary Trend of Nifty Futures share price: Up & Sideways

Range-Bound Trend of Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 12330 whereas All Down Moves Initiates Short Covering (Buy) @ 12200

If Nifty futures share price Moves Above 12285 and sustain. Then you should Buy with 1st Target of 12312 during the day with a Stop Loss of 12238 FOR the Target of 12312- 12327- 12348

If Nifty futures share price Moves Below 12238 and sustain. Then you should Sell with 1st Target of 12218 during the day with a Stop Loss of 12285. FOR the Target of 12218- 12198- 12170

 

Primary Trend of Bank Nifty Future: Up 

Range-Bound Trend of Bank Nifty Future: 

All up Moves Initiates Profit Booking (Sale) @ 32400, whereas All Down Moves Initiates Short  Covering (Buy) @ 31950

If Bank Nifty share price future Moves Above 32195  and sustain. Then you should Buy with 1st Target of 32310 during the day with a Stop Loss of  32020. FOR the Target of 32310 – 32380- 32460

If Bank Nifty share price future Moves Below 32020 and sustained. Then you should Sell with 1st Target of 31950 during the day with a Stop Loss of 31494. FOR the Target of 31950 – 31870- 31725.

 

Conclusions: 

Indian stock market closed in strong note today. The sentiment has improves due to the easing of US-Iran tension and global market rally. Yesterday there was a huge correction on crude oil prices and today’s rupee appreciation has rallied Indian market.

Traders should follow the development of the global market for cues. You can also follow our Nifty and Bank Nifty future share price target for 10th Jan for trading.

 

You can also read, Nifty Sensex weekly updates: Key factors for next week

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