Nifty & Bank Nifty Prediction for Tomorrow 10 Feb 2022
Nifty & Bank Nifty Prediction for Tomorrow 10 Feb 2022: Indian equity markets opened higher on Wednesday amid positive global market cues. The benchmark indices extended their previous session gains on the back of buying in Auto, Metals, and Media stocks. The domestic markets were traded firm ahead of the RBI monetary policy outcome as the preliminary data showed India’s export grew in the first week of February.
The broader markets also closed higher following their larger peers. In the end, markets closed more than 1 percent higher on Wednesday. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 9 February (Feb Expiry)
The Nifty futures price opened at 17351.40, making a positive opening of 78.4 points. It has touched an intraday high of 17490 and a day’s low at 17330.30
The Nifty futures price has given a movement of 159.70 points today. In the end, it gained 214 points or 1.24 percent and ended at 17487 levels.
The Bank Nifty futures opened at 38309.95, It made a positive opening of 176.85 points. The Bank Nifty futures has touched an intraday high at 38733.65 and a day’s low at 38250.25
During the day, the Bank Nifty futures has given a movement of 483.4 points. In the end, it closed higher by 591.70 points or 1.55 percent and closed at 38724.80 levels.
Nifty & Bank Nifty Prediction for Tomorrow 10 Feb 2022 (Feb Expiry)
Nifty Futures Prediction for 10 Feb 2022
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17670 whereas All Down Moves Initiates Short Covering (Buy) @ 17350
If the Nifty futures share price Moves Above 17527 and sustain. Then you should Buy with 1st Target of 17552 during the day with a Stop Loss of 17505 FOR the Target of 17552- 17590- 17630- 17665
If the Nifty futures share price Moves Below 17450 and is sustained. Then you should Sell with the 1st Target of 17418 the day with a Stop Loss of 17485. FOR the Target of 17418- 17392- 17344- 17305
Bank Nifty Futures Prediction for 10 Feb 2022
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 39300 whereas All Down Moves Initiates Short Covering (Buy) @ 38700
Suppose the Bank Nifty futures Moves Above 38930 and sustain, then you should Buy with the 1st Target of 39060 during the day with a Stop Loss of 38780 the Target of 39060 – 39185 – 39375- 39530
If the Bank Nifty futures Moves Below 38630 and sustain, then you should Sell with the 1st Target of 38515 during the day with a Stop Loss of 38710. FOR the Target of 38515 – 38430 – 38280- 38160
Global stock markets today
On the global front, the Asian markets made a healthy gain on Tuesday tracking positive cues from the US markets overnight as investors prepared for the release of highly anticipated US inflation data. Hang Seng led the rally today jumping more than 2 percent due to the surge in heavyweight Alibaba by more than 6 percent today.
European markets are trading strong at this moment at 5 pm IST on Wednesday as investors have stopped worrying about inflation and focused on a steady stream of corporate news. The US market indexes, Dow Jones and Nasdaq futures are trading higher at this time.
Conclusion
Indian markets continued their upward journey for the second consecutive day. The positive global cues supported the markets to trade higher ahead of the RBI Monetary Policy outcome. Going ahead, Indian markets are looking positive, RBI’s meeting output and its commentary will set the market direction tomorrow. Traders/investors should remain cautious tomorrow.
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