Nifty and Bank Nifty Prediction for Tomorrow 10 Nov 2021
Nifty and Bank Nifty Prediction for Tomorrow 10 Nov 2021: Indian stock market indices opened marginally higher on Tuesday and later turned negative and closed slightly lower in the end. The broader markets outperformed the benchmark indices today. Buying was witnessed mainly in PSU Banking, Auto, and Realty space whereas some selling pressure was seen in Financial services and FMCG sectors. You can read the complete market updates here
Nifty and Nifty Bank futures price movement for 9 November (Nov Expiry)
The Nifty futures price opened at 18130, making a positive opening of 7.25 points higher. It has touched an intraday high at 18140.80 and a day’s low at 17993.70
The Nifty futures price has given a movement of 147.1 points today. In the end, it fell 47.50 points or 0.26 percent and ended at 18075.25 levels.
The Bank Nifty futures opened at 39675. It made a positive opening of 22.5 points today. It has touched an intraday high at 39708 and a day’s low at 39351.75
During the day, the Bank Nifty in futures has given a movement of 356.25 points. In the end, it closed lower by 106.20 points or 0.27 percent and closed at 39546.30 levels.
Nifty & Bank Nifty Prediction for Tomorrow 10 Nov 2021 (Nov Expiry)
Nifty Futures prediction for Tomorrow, 10 Nov 2021
Primary Nifty Trend in futures: Range-Bound
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 18140 whereas All Down Moves Initiates Short Covering (Buy) @ 17970
If the Nifty futures share price Moves Above 18097 and sustain. Then you should Buy with 1st Target of 18127 during the day with a Stop Loss of 18040 FOR the Target of 18127-18145- 18184
If the Nifty futures share price Moves Below 17995 and is sustained. Then you should Sell with the 1st Target of 17974 during the day with a Stop Loss of 18027. FOR the Target of 17974- 17942- 17909
Bank Nifty Futures predictions for Tomorrow, 10 Nov 2021
Primary Trend of Bank Nifty Futures: Range-Bound
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39800, whereas All Down Moves Initiates Short Covering (Buy) @ 39400
Suppose the Bank Nifty futures Moves Above 39645 and sustain, then you should Buy with the 1st Target of 39730 during the day with a Stop Loss of 39570. FOR the Target of 39730 – 39815 – 39910
If the Bank Nifty futures Moves Below 39340 and sustain, then you should Sell with the 1st Target of 39220 during the day with a Stop Loss of 39425. FOR the Target of 39220 – 39140 – 39028
Global markets today
On the global front, Asian markets closed mostly in the green today following the positive cues from the US markets overnight. China’s blue chips ended flat today after the country’s central bank introduced a new lending tool. The Hang Sang index closed higher as healthcare stocks rebound.
European markets are trading marginally higher on Tuesday, as strong corporate earnings supported the market sentiments. While investors are cautious ahead of fresh US inflation data for cues on the interest rate outlook. The US future indexes, Dow and Nasdaq futures are trading flat at this time (4.30 pm)
Conclusions
Indian stock market indexes ended with marginal losses amid narrow range volatility on Tuesday. Nifty took support near 18k today and bounced back and closed above 18K is a good sign. The midcap and smallcap indexes also outperformed the benchmark indices. Some selling pressure was witnessed in the private banking space and financial services. Overall, Nifty needs to close above 18130 levels for further upside.
Also read, Best stocks to buy in India for the short term in November 2021
Stock Market Next Week (8 to 12 Nov 2021)- Expert’s View
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