Nifty & Bank Nifty index technical view for tomorrow
Nifty and Bank Nifty index technical view for tomorrow
Nifty and Bank Nifty Index technical view: Indian stocks market opened in the red and later recovered most of its early losses. The Nifty was trading in a tight zone most of the day and later closed in flat to negative. The Bank Nifty was trading without the support of private banking sectors. The PSU Baking sector gained and recovered the Bank Nifty from the lower levels. SBI, PNB, BOB are the gainers in the Bank Nifty today.
You can read the complete market updates for 12th August here
Nifty and Bank Nifty index in futures today
The Nifty index in futures opened at 11237.40, it made a negative opening of 106.95 points today. It has touched an intraday high at 11337.85 and a day’s low at 11231.
The Nifty index in futures has given a movement of 106.85 points. In the end, it declined by 29.60 points or 0.26% and closed at 11314.75 levels.
The Bank Nifty index in futures opened at 22122.35 it was made a negative opening of 174 points today. It has touched an intraday high at 22385 and a day’s low at 22000.60.
During the day the Bank Nifty index in futures has given a movement of 384.4 points. In the end, it was down by 5.5 points or 0.02% and closed at 22290.85 levels.
Nifty, Bank Nifty index futures technical view for 13th Aug (Aug Expiry)
The Nifty index futures technical view for 13th Aug 2020
Primary Nifty Trend in futures: Mild Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 11410 whereas All Down Moves Initiates Short Covering (Buy) @ 11250.
If Nifty index futures Moves Above 11328 and sustain. Then you should Buy with 1st Target of 11352 during the day with a Stop Loss of 11272. FOR the Target of 11352- 11384- 11408.
If Nifty index futures Moves Below 11272 and sustain. Then you should Sell with 1st Target of 11252 during the day with a Stop Loss of 11328. FOR the Target of 11252- 11218- 11188.
Bank Nifty index futures Technical view, 13th Aug 2020
Primary Trend of Bank Nifty Futures: Mild Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 22700, whereas All Down Moves Initiates Short Covering (Buy) @ 22130.
If the Bank Nifty index futures Moves Above 22452 and sustain. Then you should Buy with 1st Target of 22530 during the day with a Stop Loss of 22180. FOR the Target of 22530 – 22610- 22775.
If the Bank Nifty index futures Moves Below 22180 and sustained. Then you should Sell with 1st Target of 22125 during the day with a Stop Loss of 22452. FOR the Target of 22125 – 22010- 21940.
Conclusions:
Indian markets closed in flat today as global cues were not positive due to the uncertainty of the fresh US stimulus package. Profit booking at higher levels in pharma, metals have dragged down the market today. An overall market trend is positive traders are buying on dips. Nifty has got immediate support at 11250-11200 and on the upper side has a resistance of 11350-11400 levels.
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