Nifty and Bank Nifty share price future for 9th Jan

 

Nifty & Bank Nifty share price future: The Indian equity market made a gap down opening in the morning. This is due to Iran’s fired missiles at Iraq’s airbase that host US military forces. And secondly, traders are worried about advance estimates announced by the government yesterday of FY19-20 GDP which expects 5% compared to 6.8% last year.

The Nifty future share price opened at 11996.90 in the morning, it was down by 108.90 points. It has made an intraday high at 12090.50 and touched a day’s low at 11976.60.

During the day the Nifty future has given a movement of 113.90 points today. In the end the Nifty future share price fell     and closed at  

The Bank Nifty share price future has opened at 31185 in the morning, it was down by 307.80 points. On an intraday basis, it has touched day’s high at 31541.30 and a day’s low at 30971.80.

During the day the Bank Nifty share price future has given a movement of 569.50 points. In the end it fell   and closed at    

The market was trading volatile today and in the end, the market recovered and closed near the days high.

 

Nifty share price future  for 9th Jan 2020

Primary Trend of Nifty Futures share price: Mild down

Range-Bound Trend of Nifty Futures: 

All up Moves Initiates Profit Booking (Sale) @ 12130 whereas All Down Moves Initiates Short Covering (Buy) @ 11970

If Nifty futures share price Moves Above 12080 and sustain. Then you should Buy with 1st Target of 12112 during the day with a Stop Loss of 12040 FOR the Target of 12112- 12132- 12155

If Nifty futures share price Moves Below 12040 and sustain. Then you should Sell with 1st Target of 12020 during the day with a Stop Loss of 12128. FOR the Target of 12020- 11994- 11970

 

Bank Nifty share price future  for 9th Jan 2020

Primary Trend of Bank Nifty Future: Mild down 

Range-Bound Trend of Bank Nifty Future: 

All up Moves Initiates Profit Booking (Sale) @ 31850, whereas All Down Moves Initiates Short  Covering (Buy) @ 30920

If Bank Nifty share price future Moves Above 31494  and sustain. Then you should Buy with 1st Target of 31655 during the day with a Stop Loss of  31310. FOR the Target of 31655 – 31758- 31876

If Bank Nifty share price future Moves Below 31310 and sustained. Then you should Sell with 1st Target of 31188 during the day with a Stop Loss of 31494. FOR the Target of 31188 – 31080- 30920

 

Conclusions: 

The Indian equity market made a gap down opening today. In the end, it recovered from the lower level in the last hour and closed flat to negative. Indian market reacted negatively today due to tension in the Middle East and weak estimated GDP data that released yesterday. It may take few more days to come out from the tension until such time market may move mild down to sideways 

You can also follow our Nifty and Bank Nifty share price future target for 9th Jan for trading.

 

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