Nifty and Bank Nifty Prediction for Tomorrow 9 March 2022
Nifty and Bank Nifty Prediction for Tomorrow 9 March 2022: It was a negative start for the Indian equity markets on Tuesday tracking weak cues from the global market peers. The key benchmark indices were trading volatile throughout the day and in the end, indexes closed around 1 percent higher today.
Indian markets witnessed buying in the Realty, Pharma, PSU Banking and IT sectors whereas some correction was seen in metal and Oil & Gas sectors. The broader markets also gained in line with their larger peers today. You can read detailed market updates here
Nifty and Nifty Bank futures price movement for 8 March (March Expiry)
The Nifty futures price opened at 15770, making a gap-down opening of 102.2 points. It has touched an intraday high of 16033 and a day’s low at 15676.35
The Nifty futures price has given a movement of 356.65 points today. In the end, it closed higher by 139.80 points or 0.88 percent and ended at 16012 levels.
The Bank Nifty futures opened at 32575.60, It made a negative opening of 399.8 points. The Bank Nifty futures has touched an intraday high at 33361.55 and a day’s low at 32251.35
During the day, the Bank Nifty futures has given a movement of 1110.2 points. In the end, it closed higher by 310.90 points or 0.94 percent and closed at 33286.30 levels.
Nifty & Bank Nifty Prediction for Tomorrow 9 March 2022 (March Expiry)
Nifty Futures Prediction for Tomorrow 9 March 2022
Primary Nifty Trend in futures: Positive with cautious bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16150 whereas All Down Moves Initiates Short Covering (Buy) @ 15800
If the Nifty futures share price Moves Above 16095 and sustain. Then you should Buy with 1st Target of 16154 during the day with a Stop Loss of 16038 FOR the Target of 16154- 16209- 16236
If the Nifty futures share price Moves Below 15897 and is sustained. Then you should Sell with the 1st Target of 15862 for the day with a Stop Loss of 15924. FOR the Target of 15862-15809- 15780
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Bank Nifty Futures Prediction for Tomorrow 9 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) @ 34000 whereas All Down Moves Initiates Short Covering (Buy) @ 32950
Suppose the Bank Nifty futures Moves Above 33470 and sustain, then you should Buy with the 1st Target of 33750 during the day with a Stop Loss of 32960 the Target of 33750 – 34000- 34200
If the Bank Nifty futures Moves Below 32745 and sustain, then you should Sell with the 1st Target of 32595 during the day with a Stop Loss of 32890. FOR the Target of 32595- 32250 – 32025- 31840
Global Stock Markets today
On the global front, the other Asian market indexes closed lower tracking the negative cues from the US markets overnight. The sentiments were negative as crude oil prices continued to surge on a possible ban on crude, while Russia warned that crude oil price could surge to $300 a barrel and it might close the main gas pipeline to Germany if the West imposes ban also hit market sentiment toady
European markets are rebounded sharply at the open on Tuesday but trim their early gains at this time. Investors are in fear of a severe supply crunch due to soaring crude oil prices and concerns about inflation pressure and economic growth in the continent. The US index futures, Dow, and Nasdaq futures are trading marginally higher at 5 pm IST
Conclusion
Indian stock markets snap a 4-day losing streak on Tuesday amid volatility. European and US futures turned positive in the afternoon session with the news that the EU will consider jointly issuing bonds to finance energy and defence spending. the investors were also optimistic as the exit poll shows a clear majority for BJP in UP. Going ahead, we may see some short-covering in the markets, but traders should remain cautious.
Also read: Best Options Trading Books in India-Must Read 2021
Trade set up for Tuesday 8 March 2022- Market News
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