Nifty & Bank Nifty share price target for 27th Dec

 

Nifty, Bank Nifty share price target for 27th Dec: The Indian market opened flat in the morning later it closed in red on the expiry day. The Nifty future share price opened at 12120. The opening price was hardly seen by anyone in the trading terminal. 

The Nifty future share price has touched an intraday high at 12229.90 and alow at 12120. During the day it has given a movement of 109.90 points. In the end, the Nifty future share price fell 110.65 points and closed at 12127.80.

The Bank Nifty future has opened at 32269.95, it was down 37.80 points in at opening. It has touched an intraday high at 32339 and day’s low at 31945. During the day the Bank Nifty future share price has given a movement of 394 points.

In the end, the Bank Nifty future has declined to 309.25 points and closed 31998.50.  At close, both the Nifty future and Bank Nifty future has closed near the day low.

 

Nifty & Bank Nifty share price target for  27th Dec

Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 12310 whereas All Down Moves Initiates Short Covering (Buy) @ 12120

Primary Trend Nifty Futures:  Sideways

If Nifty futures share price Moves Above 12227 and sustain. Then you should Buy with 1st Target of 12255 during the day with a Stop Loss of 12180 FOR the Target of 12255- 12280- 12312

If Nifty futures share price Moves Below 12180 and sustain. Then you should Sell with 1st Target of 12162 during the day with a Stop Loss of 12298. FOR the Target of 12162- 12145- 12127

 

 

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 32400, whereas All Down Moves Initiates Short  Covering (Buy) @ 32020

Primary Trend of Banknifty Future: Sideways

If Bank Nifty future share price Moves Above 32262  and sustain. Then you should Buy with 1st Target of 32310 during the day with a Stop Loss of  32145 FOR the Target of 32310 – 32354- 32395

If Bank Nifty future share price Moves Below 32145 and sustained. Then you should Sell with 1st Target of 32078 during the day with a Stop Loss of 32382 FOR the Target of 32078 – 32020- 32960

 

Conclusions: 

Indian stock market extended its losses for three consecutive days. Today both Nifty and Bank Nifty future ends near the day’s low. The markets were trading rangebound in the morning, being the expiry day, the markets fell sharply in the last hour. Indian market may see some positives tomorrow but the overall market will be sideways.

Traders should follow the global market in the morning tomorrow to get an indication of the market open. You can also follow our Nifty and Bank Nifty share price target for 27th Dec19 and Weekly market views and trends here.

 

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

                               

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