Nifty & Bank Nifty futures price for 6th Feb
Nifty & Bank Nifty futures price for 6th Feb
Nifty & Bank Nifty futures price: Indian stock market opened in the red and immediately it recovered its early losses. The market sentiments remained positive throughout the day as India and the US are set to seal a trade deal during President Trump’s visit to India this month.
Moody’s statements on the Budget 2020-21 and the Improved Service PMI data has made the positive sentiment in the market today.
The Nifty futures price has opened at 11963.35, it was down by 0.9 points in the morning. It has touched an intraday high at 12104 and a day’s low at 11942.
During the day the Nifty futures price has given a movement of 164 points. In the end, it gained 125.25 points and closed at 12089.50
The Bank Nifty futures price has opened at 30760.05 in the morning, it was up by 41.60 points. It has touched a day high at 31116.60 and a day’s low at 30631.20.
On an intraday basis, the Bank Nifty futures price has given a movement of 485.4 points. In the end, it has gained 345.55 points and closed at 31060.
Nifty futures price for 6th Feb
Primary in Nifty Futures: Mild up & Volatile
Range-Bound in Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 12160 whereas All Down Moves Initiates Short Covering (Buy) @ 12000
If Nifty futures share price Moves Above 12110 and sustain. Then you should Buy with 1st Target of 12144 during the day with a Stop Loss of 12038 FOR the Target of 12144- 12165- 12195
If Nifty futures share price Moves Below 12038 and sustain. Then you should Sell with 1st Target of 12008 during the day with a Stop Loss of 12110. FOR the Target of 12008- 11990- 11950
Bank Nifty futures price for 6th Feb 2020
Primary Bank Nifty Trend in Futures: Mild up & Volatile
Range-Bound Bank Nifty Trend in Futures:
All up Moves Initiates Profit Booking (Sale) @ 31400, whereas All Down Moves Initiates Short Covering (Buy) @ 30850
If Nifty Bank futures price Moves Above 31120 and sustains. Then you should Buy with 1st Target of 31230 during the day with a Stop Loss of 30925. FOR the Target of 31230 – 31330- 31425
If Nifty Bank futures price Moves Below 30925 and sustains. Then you should Sell with 1st Target of 30840 during the day with a Stop Loss of 31120. FOR the Target of 30840- 30760- 30620.
Conclusions:
Today market closed in a positive note for the third consecutive session in a row. The markets would remain positive and volatile for tomorrow due to RBI Monetary policy. As expected, RBI will not change the interest rate this time, it will remain status quo but the commentary would be important.
Traders are also advised to trade with strict stop loss tomorrow due to weekly derivative expiry and RBI Monetary policy. You can also follow our Nifty and Bank Nifty futures price mentioned above for the 6th Feb 2020.
You can also read, 10 best stocks/shares to buy now for 2020
Your Stock Broker will never say these Hidden Charges.
If you like the post please share with your friends and others
Happy Investing!
Editor
Disclaimer-Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and not that of the website or its management. Nifty50Stocks.com is not SEBI registered Advisors and advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
