Nifty, Bank Nifty futures share price target for 16th Dec
Nifty& Bank Nifty futures share price target for 16th Dec
Nifty & Bank Nifty share price 16th Dec: It was a very strong positive opening for the Indian market in the morning. The market later closed in a positive zone for the third consecutive days. The benchmark indices closed almost near the day’s high today.
The Nifty futures opened a 31.70 points gap up in the morning at 12060.35 level. It has touched an intraday high at 12152 and day’s low at 12054.95. During the day the Nifty futures share price has given a movement of 123.35 points. In the end, it gained 122.65 points and closed at 12151.30.
A strong rally in the PSU Banking index was seen today. The Bank Nifty future share price opened at 31860.45 today, it opened 143.45 points up from yesterday’s close. It has touched an intraday high at 32230 and day’s low at 31805.35 today.
The Bank Nifty share price has given a movement of 424.65 points during the day. In the end, it gained 378 points and closed at 32095.60.
Nifty futures share price target for 16th Dec19
Primary Trend Nifty Futures: Sideways Up
Range-Bound Trend of Nifty Futures:
All up Moves Initiates Profit Booking (Sale) @ 12210 whereas All Down Moves Initiates Short Covering (Buy) @ 12050
If Nifty futures share price Moves Above 12160 and sustain. Then you should Buy with 1st Target of 12178 during the day with a Stop Loss of 12110 FOR the Target of 12178-12197- 12218
If Nifty futures share price Moves Below 12110 and sustain. Then you should Sell with 1st Target of 12090 during the day with a Stop Loss of 12160. FOR the Target of 12090- 12060- 12030
Bank Nifty futures share price target for 16th Dec19
Primary Trend of Banknifty Future: Sideways Up
Range-Bound Trend of Bank Nifty Future:
All up Moves Initiates Profit Booking (Sale) @ 32400, whereas All Down Moves Initiates Short Covering (Buy) @ 31700
If Bank Nifty future share price Moves Above 32150 and sustain. Then you should Buy with 1st Target of 32240 during the day with a Stop Loss of 32050 FOR the Target of 32240 – 32310- 32368
If Bank Nifty future share price Moves Below 32050 and sustained. Then you should Sell with 1st Target of 31975 during the day with a Stop Loss of 31760 FOR the Target of 31975 – 31885- 31825
Conclusions:
The positive global cues, FIIs inflow, positive development in the trade deal has lifted the Indian market today. The primary trend of the Indian market is looking positive. Monday the Indian market will open as per the global cues.
Traders can also follow our Nifty Futures and Bank Nifty futures share price target for 16th Dec19 and Weekly market views and trends here.
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