Nifty and Bank Nifty Prediction for Tomorrow 10 March 2023
Nifty and Bank Nifty Prediction for Tomorrow 10 March 2023: Indian stock market indexes extended their early losses and ended with deep cuts on Thursday. Trading was volatile due to the expiry of weekly index options on the NSE. The market breadth was weak, it favored the sellers, on the NSE, 772 shares rose while 1263 shares fell. Barring metal, all other sectors were closed in the red with auto, realty, and PSU banks, and IT falling the most.
The broader markets also closed in the red today, as Nifty mid and smallcap indexes declined by 0.55 and 0.54 percent respectively. At the close, Sensex and Nifty closed below their psychological levels of 60,000 and 17600 levels respectively. You can read the detailed market updates here.
Nifty and Bank Nifty futures price movement for 9 March
The Nifty futures price opened at 17789.95 making a negative opening of 4.6 points today. It has touched an intraday high of 17818.90 and a day’s low of 17635
The Nifty futures price has given a movement of 183.9 points today. In the end, it closed lower by 156.35 points or 0.88 percent and ended at 17638.20 levels.
The Bank Nifty futures opened at 41721.15 It made a positive opening of 14.85 points today. The Bank Nifty futures touched an intraday high at 41765 and a day’s low at 41368.70
During the day, the Bank Nifty futures have given a movement of 396.3 points. In the end, it closed lower by 317.50 points or 0.76 percent and closed at 41388.80 levels.
Nifty & Bank Nifty Prediction for Tomorrow 10 March 2023
Nifty Futures Prediction for Tomorrow 10 March 2023
Primary Nifty Trend in futures: Negative
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17700 whereas All Down Moves Initiates Short Covering (Buy) @ 17450
If the Nifty futures (March Series) share price Moves Above 17658 and sustains. Then you should Buy with the 1st Target of 17685 during the day with a Stop Loss of 17630 FOR the Target of 17685- 17706- 17735- 17764
If the Nifty futures (March Series) share price Moves Below 17592 and is sustained. Then you should Sell with the 1st Target of 17558 for the day with a Stop Loss of 17780. For the Target of 17558- 17531- 17490- 17450
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Bank Nifty Futures Prediction for Tomorrow 10 March 2023
Primary Trend of Bank Nifty Futures: Negative
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 41500 whereas All Down Moves Initiates Short Covering (Buy) @ 41000
Suppose the Bank Nifty futures (March Series) Moves Above 41460 and sustain, then you should Buy with the 1st Target of 41525 during the day with a Stop Loss of 41380 and the Target of 41525- 41605- 41660- 41720
If the Bank Nifty futures (March Series) Moves Below 41285 and sustain, then you should Sell with the 1st Target of 41200 the day with a Stop Loss of 41350. For the Target of 41200- 41120- 41020- 40950
Global Stock Market Updates
On the global front, the other Asian markets closed mixed on Thursday. The market sentiments were hit due to more gloomy predictions from the US Fed on inflation, weakening demand in China, escalation of geopolitical tension, and the US dollar index at three months high.
Japan’s Nikkei closed higher following the strength of US technology shares overnight, while the Japanese Yen’s decline to a multi-month low also provided support to the exporters. Shanghai and Heng Seng indexes closed lower, as a slowdown in consumer inflation pointed to a weak economic recovery in China, while the continuous escalation of geopolitical tensions also curbed the risk appetite
European stock market indexes are trading lower ( at 5 pm IST) as investors digested more Congress testimony from US Federal Reserve Chairman Jerome Powell and looking ahead to US farm payroll data, which is due on Friday. The US future indexes are trading mixed, dow future is trading slightly higher while the Nasdaq future is trading lower at this moment.
Conclusion
Indian stock markets fell sharply as the session progressed and snapped a 3-day winning streak. The sentiments were hit after the US Fed indicated aggressive interest rate hikes, rising bond yields, and the dollar index.
Tomorrow the domestic markets will remain volatile, as traders will be looking ahead to US farm payroll data, which is expected later in the day. You can follow our Daily Morning Report at 7.30 am for market direction.
Also, read Best Options Trading Books in India-Must Read 2022
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
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