Nifty | Bank Nifty Prediction for Tomorrow, 8 Dec 2021
Nifty | Bank Nifty Prediction for Tomorrow, 8 Dec 2021: Indian equity benchmark indices made a gap-up opening on Tuesday amid positive cues from the global markets. The Sensex and Nifty indices were comfortably traded above their neutral lines on the back of buying in almost all sectors today led by metals, realty, and banks. The broader markets also closed higher in line with their larger peers. In the end, markets extended their early gains and closed on a strong note. You can read the complete market updates here.
Nifty and Nifty Bank futures price movement for 6 Dec (Dec Expiry)
The Nifty futures price opened at 17053.80, making a positive opening of 96.65 points. It has touched an intraday high at 17308.95 and a day’s low at 17016.60
The Nifty futures price has given a movement of 292.35 points today. In the end, it gained 265.85 points or 1.57 percent and ended at 17223 levels.
The Bank Nifty futures opened at 36100. It made a positive opening of 209 points today. It has touched an intraday high at 36963.95 and a day’s low at 36100
During the day, the Bank Nifty futures has given a movement of 863.95 points. In the end, it closed higher by points 880.95 points or 2.45 percent and closed at 36771.95 levels.
Nifty & Bank Nifty Prediction for Tomorrow, 8 Dec 2021 (Dec Expiry)
Nifty Futures prediction for Tomorrow, 8 Dec 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17350 whereas All Down Moves Initiates Short Covering (Buy) @ 17200
If the Nifty futures share price Moves Above 17252 and sustain. Then you should Buy with 1st Target of 17280 during the day with a Stop Loss of 17223 FOR the Target of 17280- 17309- 17347
If the Nifty futures share price Moves Below 17195 and sustain. Then you should Sell with the 1st Target of 17160 during the day with a Stop Loss of 17209. FOR the Target of 17160- 17138- 17112
Bank Nifty Futures prediction for Tomorrow, 8 Dec 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37200 whereas All Down Moves Initiates Short Covering (Buy) @ 36700
Suppose the Bank Nifty futures Moves Above 36870 and sustain, then you should Buy with the 1st Target of 36956 during the day with a Stop Loss of 36790. FOR the Target of 36956 – 37130 – 37220
If the Bank Nifty futures Moves Below 36670 and sustain, then you should Sell with the 1st Target of 36510 during the day with a Stop Loss of 36750. FOR the Target of 36510 – 36350 – 36270
Global markets today
On the global front, Asian markets closed in the green on Tuesday tracking the positive cues from the US markets overnight. The positive sentiments in China were due to a 0.5% cut in Chinese reserve requirements yesterday, as well as today mornings’ positive trade numbers which showed that domestic demand is increasing.
European markets are trading higher taking positive cues from the US and Asian markets. A strong rebound in technology shares is seen as worries about the Omicron subsides, and gains in the mining sector after China eased its monetary policy witnessed in the European markets so far. The US futures, Dow, and Nasdaq futures are trading positive, the US markets are likely to open strong today.
Conclusions
Indian markets bounced back today after losing for two consecutive days amid positive cues from the global markets. Comments from the US stating the new covid variant is milder than it was expected earlier helped to improve the market sentiments today. Going ahead, tomorrow is RBI monetary policy meeting outcome, markets will take the direction from the domestic event. The RBI policy outcome is scheduled for tomorrow at 10 am.
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