Nifty & Bank Nifty Prediction for Tomorrow 10 March 2022: The Indian equity markets opened higher on Wednesday as indicated by the other Asian market peers. The benchmark indices traded strongly and extended their previous day’s gain after the news that President Volodymyr Zelensky is no longer pressing for NATO membership for Ukraine. The decline in crude oil prices also supported the market rally today.
Indian markets closed higher on the back of buying in beaten-down stocks. It was a broad-based rally today, markets gained with the support of all sectors barring metal. For detailed market updates, you can click here to read.
Nifty and Nifty Bank futures price movement for 9 March (March Expiry)
The Nifty futures price opened at 16065, making a positive opening of 54.1 points. It has touched an intraday high of 16422 and a day’s low at 15961
The Nifty futures price has given a movement of 461 points today. In the end, it closed higher by 374.10 points or 2.34 percent and ended at 16385 levels.
The Bank Nifty futures opened at 33300, It made a positive opening of 46.1 points. The Bank Nifty futures has touched an intraday high at 34025 and a day’s low at 33052.10
During the day, the Bank Nifty futures has given a movement of 972.9 points. In the end, it closed higher by 694.10 points or 2.09 percent and closed at 33948 levels.
Nifty & Bank Nifty Prediction for Tomorrow 10 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 10 March 2022
Primary Nifty Trend in futures: Positive with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16500 whereas All Down Moves Initiates Short Covering (Buy) @ 16250
If the Nifty futures share price Moves Above 16430 and sustain. Then you should Buy with 1st Target of 16480 during the day with a Stop Loss of 16409 FOR the Target of 16480- 16515- 16550
If the Nifty futures share price Moves Below 16365 and is sustained. Then you should Sell with the 1st Target of 16295 for the day with a Stop Loss of 16395. FOR the Target of 16295-16240- 16205
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Bank Nifty Futures Prediction for Tomorrow 10 March 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 34300 whereas All Down Moves Initiates Short Covering (Buy) @ 33700
Suppose the Bank Nifty futures Moves Above 34060 and sustain, then you should Buy with the 1st Target of 34200 during the day with a Stop Loss of 33940 the Target of 34200 – 34350- 34480
If the Bank Nifty futures Moves Below 33760 and sustain, then you should Sell with the 1st Target of 33650 the day with a Stop Loss of 33840. FOR the Target of 33650 – 33430 – 33300
Global Stock Markets today
On the global front, the other Asian markets trimmed their early gains and closed mixed on Wednesday. The market sentiments were upbeat in the morning as China’s factory inflation in February eased to the slowest annual pace in eight months due to seasonal effects from the Lunar New Year holiday.
European markets are trading strongly on Wednesday, as investors went bargain hunting for companies battered by the recent sell-off in the wake of Russia’s invasion of Ukraine. The fall in crude oil prices is also supporting European markets to trade higher. The US futures, Dow Jones, and Nasdaq futures are trading strongly at 5.30 pm IST
Conclusion
Indian stock markets extended their yesterday’s gain and closed more than 2 percent higher with the support of global cues. All sectors participated in the rally except for metals. Investors preferred to buy beaten-down front liner stock in dips. The ease in crude oil prices also supported the market rally today. Going ahead, other than the Russia-Ukraine crisis market will also focus on the election result tomorrow.
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