Nifty and Bank Nifty futures share price for 24th Feb

 

Nifty & Bank Nifty futures share price for 24th Feb: Indian stock market opened in red on last Thursday and was trading volatile in a tight range. The Nifty closed in red but Bank Nifty gained on the last day of the week. On 21st Indian equity market was holiday whereas the global market Asia, Europe, and the US market closed in the red. Nasdaq was down 1.79% on last Friday.

The Nifty futures share price opened at 12102.90 on the last Thursday, it was down by 39.8 points from the previous close. It has touched an intraday high at 12163 and a day’s low at 12065.

During the day, the Nifty futures share price has made a movement of 98 points. In the end, it was declined 61.95 points and closed at 12080.75.

The Bank Nifty futures share price opened at 30784 on the last Thursday, it was down by 72.4 points from the previous close. It has touched an intraday high at 31098.40 and a day’s low at 30698.60.

On an intraday basis, the Bank Nifty futures share price has made a movement of 399.8 points. In the end, it gained 82.25 points and closed at 30938.65.

Nifty futures share price for 24th Feb

Primary Trend in Nifty Futures: Mild up and volatile

Range-Bound Trend in Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 12150 whereas All Down Moves Initiates Short Covering (Buy) @ 12000

If Nifty futures share price Moves Above 12103 and sustain. Then you should Buy with 1st Target of 12122 during the day with a Stop Loss of 12060 FOR the Target of 12122- 12145- 12170

If Nifty futures share price Moves Below 12060 and sustain. Then you should Sell with 1st Target of 12040 during the day with a Stop Loss of 12103 FOR the Target of 12040- 12020- 12002.

 

Bank Nifty futures share price  for 24th Feb

Primary Trend of Nifty Bank Futures: Mild up and volatile

Range-Bound Trend in Bank Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 31250, whereas All Down Moves Initiates Short  Covering (Buy) @ 30700.

If Bank Nifty share price in futures Move Above 31030  and sustain. Then you should Buy with 1st Target of 31125 during the day with a Stop Loss of  30820. FOR the Target of 31125 – 31215- 31310

If Bank Nifty share price in futures Move Below 30820 and sustain. Then you should Sell with 1st Target of 30730 during the day with a Stop Loss of 31030. FOR the Target of 30730- 30620- 30515.

 

Conclusions: 

The global market traded negatively last Friday whereas the Indian market was closed on account of Maha Shivratri. On Monday if the Asian market trend shows negative then the Indian market will open gap down. So traders need to follow the SGX Nifty on Monday morning around 9 am to get an idea of Indian market opening.

Traders can also follow our Nifty & Bank Nifty futures share price target mentioned above for the 24th Feb 2020 Monday.

 

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