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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