Markets above crucial levels, Nifty and Bank Nifty futures prediction for 10 Dec

 

Nifty & Bank Nifty futures prediction for 10 Dec: Indian equity markets opened in the green today amid positive global cues. The markets extended their early gains in the second half as bulls continued to tighten their grip on Dalal Street. In the end, the benchmark indices closed above their crucial levels of 46000 (Sensex) and 13500 (Nifty) levels.

The market sentiments remained upbeat as traders consider approving the coronavirus vaccine for the public, raising hopes of early economic recovery. Some support also came with the report that corporate India is showing “healthy signs of recovery” and plans to hire more people in the first three months of 2021 compared to the quarter ending December 2020. According to the report, the employment trends in the first quarter of 2021 are expected to be on rising with a net employment outlook of 5%

On the global front, Asian markets were mostly closed in the green today as investors cheered the news that the White House had put forward a fresh stimulus proposal of more than $900 billion. The European markets are trading higher joined the global rally on the progress of vaccine news and US stimulus hopes, while investors are watching closely the Brexit news. The US futures markets are trading almost flat at this moment.

 

Today’s Market Updates: Nifty, Sensex, and Bank Nifty today

 

At the close, Nifty gained 136.15 points or 1.02% and at 13529.10 levels while Sensex gained 494.99 points or 1.09% and at 46103.50 levels. The Bank Nifty on the spot levels also closed higher by 447.50 points or 1.48% and ended at 30709.40 levels.

The Nifty midcap and smallcap 100  indices closed higher today. The midcap 100 gained 124.25 points or 0.61% and at 20,563.25 levels. The Nifty smallcap 100 index was up by 34.70 points or 0.51% and at 6817.25 levels.

The top five gainers in the Nifty50 index for the day were UPL, Asian paints, IOC, Kotak Mahindra Bank, and HDFC Bank, The top losers in the Nifty50 index for the day were Hindalco, Shree Cement, Ultratech Cement, Wipro, and Maruti Suzuki. Reliance, HDFC Bank, and Axis Bank were the most active stocks in the NSE today.

On a sectoral basis, Banking & Finance, Media, Oil & Gas, Realty and manufacturing closed in the green. On the losing side, Logistic, Construction materials, Aviation, and Power closed marginally lower today

 

Nifty & Bank Nifty futures price today

 

The Nifty futures share price opened at 13457.70, it made a positive opening of 29.55 points. It has touched an intraday high at 13588 and a day’s low at 13456.15

The Nifty futures share price has given a movement of 131.85 points. In the end, it gained 148.75 points or 1.11% and closed at 13576.90 levels.

The Bank Nifty futures share price opened at 30400 It made a positive opening of 86 points today. It has touched an intraday high at 30877 and a day’s low at 30355

During the day, the Bank Nifty futures share price has given a movement of 522 points. In the end, it gained 455.45 points or 1.50% and closed at 30769.45 levels.

Nifty and Bank Nifty futures prediction for 10 Dec ( Dec Expiry)

 

Nifty futures prediction for 10 Dec 2020

Primary Nifty Trend in futures: Positive

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 13625 whereas All Down Moves Initiates Short Covering (Buy) @ 13540

If the Nifty futures share price Moves Above 13584 and sustain. Then you should Buy with 1st Target of 13624 during the day with a Stop Loss of 13538  FOR the Target of 13624-13648- 13675

If the Nifty futures share price  Moves Below 13538 and sustain. Then you should Sell with the 1st Target of 13514 during the day with a Stop Loss of 13584. FOR the Target of 13514- 13490 -13450

 

Bank Nifty futures prediction, 10 Dec  2020

Primary Trend of  Bank Nifty Futures: Positive

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31100, whereas All Down Moves Initiates Short  Covering (Buy) @ 30500

Suppose Bank Nifty futures share price Moves Above 30830 and sustain. Then you should Buy with the 1st Target of 30980 during the day with a Stop Loss of  30650. FOR the Target of 30980 – 31080- 31190

If the Bank Nifty futures share price Moves Below 30650 and sustained. Then you should Sell with the 1st Target of 30560 during the day with a Stop Loss of 30830. FOR the Target of 30560 – 30450- 30320

Conclusions:

Indian stock market continuously trading towards the northward direction and touching a new record high. The news on coronavirus vaccines and hopes of economic recovery created positive sentiments across the globe. The fresh hopes of the US stimulus package have also added some positive sentiments in the market.

Markets will remain positive in the coming days and investors should accumulate some good stocks on the dip. Traders/investors can follow our Daily Morning market views and can follow our Nifty and Bank Nifty futures prediction for tomorrow 10 Dec. 2020.

 

Also read,     The Best Stock market book to read to make money 

                    Nifty & Bank Nifty futures for the week (7-11 Dec)

          

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Editor’s Desk

 

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