Nifty & Bank Nifty futures share price for 6th March

 

Indian market opened in the green today after getting a positive indication from the global market.  It was a volatile day for the Indian stock market today. 

In the morning the market sentiments improved after the Finance Minister made a statement that the government is working intensively to ensure meaningful intervention if needed to deal with the impact of unfolding coronavirus crisis on the country. A sharp recovery in the Indian rupee against the US dollar along with positive cues from the Asian markets added fuel to trade the Indian market in the positive zone.

The Nifty futures share price opened today at 11294.65, it was up by 47.55 points from yesterday’s closing price. It has touched an intraday high at 11382 and a day’s low at 11230.50.

On an intraday basis, the Nifty futures share price has given a movement of 151.5 points. In the end, it gained 14.5 points and closed at 11245.

Today, the Bank Nifty futures share price opened at 28839.95, it was up by 86.95 points from the previous close. It has touched an intraday high at 29180 and a day’s low at 28547.05.

During the day the Bank Nifty futures share price has given a movement of 632.95 points. In the end, it gained by 33.5 points and closed at 28786.50.

 

Bank Nifty futures share price for 6th March

Primary Trend in Nifty Futures:  down

Range-Bound Trend in Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 11390 whereas All Down Moves Initiates Short Covering (Buy) @ 11100

If Nifty share price in NSE futures Moves Above 11290 and sustain. Then you should Buy with 1st Target of 11315 during the day with a Stop Loss of 11215 FOR the Target of 11315- 11340- 11390

If Nifty share price in NSE futures Moves Below 11215 and sustain. Then you should Sell with 1st Target of 11192 during the day with a Stop Loss of 11290 FOR the Target of 11192- 11162- 11127

 

Bank Nifty futures share price for 6th March

Primary Trend of Nifty Bank Futures: down

Range-Bound Trend in Bank Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 29300, whereas All Down Moves Initiates Short  Covering (Buy) @ 28400.

If Bank Nifty share price in NSE futures Move Above 28950  and sustain. Then you should Buy with the 1st Target of 29040 during the day with a Stop Loss of  28670. FOR the Target of 29040 – 29120- 29295

If Bank Nifty share price in NSE futures Move Below 28670 and sustain. Then you should Sell with 1st Target of 28495 during the day with a Stop Loss of 28920. FOR the Target of 28495- 28350- 28200.

 

Conclusions: 

Indian stock market closed in marginally higher today after a volatile session. The market breadth was on the positive side today, Nifty is forwarding towards 11500 levels. A rally in the PSU Banking sector was seen today, Yes Bank share price gained 28% on an intraday basis after the news of SBI likely to buy a stake in Yes Bank.

Traders should trade cautiously with strict stop loss and track the global markets for trading. Traders can also follow our Nifty & Bank Nifty futures share price for 6th March for day trading.

You can also read,  Nifty50 Stocks list | Index | Share price

                               Your Stock Broker will never say these Hidden Charges.

Indian Share Market hit by Coronavirus spread

Please share your views about the post.

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.