Nifty | Bank Nifty Prediction for Tomorrow 11 March 2022
Nifty and Bank Nifty Prediction for Tomorrow 11 March 2022: The Indian equity market opened a gap-up on Thursday tracking positive cues from the global peers. The market sentiments were positive due to a decline in crude oil prices and BJP’s strong performance in the Assembly election result. The benchmark indices later trimmed some early gains and traded on a positive note throughout the day.
Indian markets witnessed broad-based gain on the back of buying in FMCG, Metal, and PSU Bank, while IT stocks closed marginally lower. For detailed market updates, you can click here to read.
Nifty and Nifty Bank futures price movement for 10 March (March Expiry)
The Nifty futures price opened at 16730, making a positive opening of 364.3 points. It has touched an intraday high of 16753.50 and a day’s low at 16450
The Nifty futures price has given a movement of 303.5 points today. In the end, it closed higher by 200.65 points or 1.23 percent and ended at 16566.35 levels.
The Bank Nifty futures opened at 35000, It made a positive opening of 1111.7 points. The Bank Nifty futures has touched an intraday high at 35424.25 and a day’s low at 34230.45
During the day, the Bank Nifty futures has given a movement of 1193.8 points. In the end, it closed higher by 551.70 points or 1.63 percent and closed at 34440 levels.
Nifty & Bank Nifty Prediction for Tomorrow 11 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 11 March 2022
Primary Nifty Trend in futures: Negative with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16700 whereas All Down Moves Initiates Short Covering (Buy) @ 16350
If the Nifty futures share price Moves Above 16652 and sustain. Then you should Buy with 1st Target of 16680 during the day with a Stop Loss of 16590 FOR the Target of 16680- 16728- 16776- 16830
If the Nifty futures share price Moves Below 16480 and is sustained. Then you should Sell with the 1st Target of 16415 for the day with a Stop Loss of 16395. FOR the Target of 16415-16360- 16302- 16250
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Bank Nifty Futures Prediction for Tomorrow 11 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) @ 34800 whereas All Down Moves Initiates Short Covering (Buy) @ 33600
Suppose the Bank Nifty futures Moves Above 34780 and sustain, then you should Buy with the 1st Target of 34875 during the day with a Stop Loss of 34550 the Target of 34875 – 35070- 35165- 35300
If the Bank Nifty futures Moves Below 34185 and sustain, then you should Sell with the 1st Target of 34010 the day with a Stop Loss of 34415. FOR the Target of 34010 – 33750 – 33570- 33400
Global Stock Markets today
On the global front, the other Asian market indexes closed higher on Thursday as investors found comfort in planned peace talks between Russia and Ukraine, while a decline in crude oil prices also relieved investors from inflationary pressure.
European markets are trading in the red on Thursday after the previous session rally as investors eyed the development of the Russia-Ukraine war and a European central bank meeting later in the day. The US future index, Dow, and Nasdaq futures are trading in the red ahead of the inflation data expected later in the day.
Conclusion
The market optimism has been fueled by possible peace talks between Russia-Ukraine, the decline in crude oil prices, and the clear win of BJP in 4 states. Going ahead, other than Russia-Ukraine development, traders will closely monitor the US CPI data, ECB monetary policy expected later in the day.
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