Nifty & Bank Nifty share price in futures for 11th Feb

 

Nifty & Bank Nifty share price for 11th Feb: Indian stock market opened in the red and later it extended its early losses today. On the global front, the Asian markets were trading lower today following the negative cues from Wall Street on Friday. Globally the markets are trading lower due to the death toll from the coronavirus outbreak exceeded the global total from the SARS epidemic in 2003.

The Nifty share price in futures opened at 12081.65, it was down by 14.25 points from the previous close. It has touched an intraday high at 12088.90 and a day’s low at 11985.

During the day the Nifty share price in futures has given a movement of 103.90 points. In the end, it declined 46.95 points and closed at 12048.95

The Bank Nifty share price in futures has opened at 31215.20, it was down by 25.20 points from last Friday’s close. It has touched an intraday high at 31259.85 and a day’s low at 31003.90.

On an intraday basis, the Bank Nifty share price in futures has given a movement of 255.95 points. In the end, it was down by 107.65 points and closed at 31132.75

Nifty share price in futures for 11th Feb 

Primary in Nifty Futures: Sideways volatile

Range-Bound in Nifty Futures:

All up Moves Initiates Profit Booking (Sale) @ 12145 whereas All Down Moves Initiates Short Covering (Buy) @ 11960

If Nifty futures share price Moves Above 12075 and sustain. Then you should Buy with 1st Target of 12097 during the day with a Stop Loss of 12006 FOR the Target of 12097- 12118- 12145

If Nifty futures share price Moves Below 12006 and sustain. Then you should Sell with 1st Target of 11985 during the day with a Stop Loss of 12075. FOR the Target of 11985- 11960- 11938

 

Bank Nifty share price in futures for 11th Feb 2020

Primary Trend of Nifty Bank share price in Futures: Sideways volatile

Range-Bound Trend of Nifty Bank indices in Futures: 

All up Moves Initiates Profit Booking (Sale) @ 31400, whereas All Down Moves Initiates Short  Covering (Buy) @ 30940

If Nifty Bank indices in futures Move Above 31220  and sustain. Then you should Buy with 1st Target of 31260 during the day with a Stop Loss of  31050. FOR the Target of 31260 – 31320- 31396

If Nifty Bank indices in futures Move Below 31050 and sustain. Then you should Sell with 1st Target of 31002 during the day with a Stop Loss of 31220. FOR the Target of 31002- 30940- 30878.

 

Conclusions: 

Weak global cues have dragged the Indian equity market for the second consecutive day. The concern about spreading Coronavirus in China and shut down of factories due to the virus indicates an economic slowdown in China. The global market followed by the Indian equity market reacted negatively on the news. 

Investors should track the news related to the virus and global cues closely. The last leg of Q3 earnings and macro data will be important and would decide the market mood in the coming days. You can also follow our Nifty and Nifty Bank share price target in futures mentioned above for the 11th Feb 2020. 

 

You can also read, 10 best stocks/shares to buy now for 2020

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