Nifty & Bank Nifty Share Price Target for 9 Sept 2021
Nifty and Bank Nifty share price target for tomorrow, 9 Sept 2021: Indian stock markets opened marginally higher and then immediately slipped to the negative territory. Markets continued to show a sluggish trend in the morning session. In the afternoon session markets seen profit-booking in the energy, IT, and auto counters. In the end, indexes rebounded from the day’s low and closed almost flat.
The market sentiments were down-beat as Fitch on Tuesday said India continues to ‘lag way behind’ in Covid vaccination. The rating agency also said that the negative outlook on sovereign rating signifies the rising debt-to-GDP ratio. In April 2021, Fitch affirmed India’s sovereign rating at BBB- with a negative outlook.
Today’s market: Sensex, Nifty, and Bank Nifty on the spot levels
At the close, Sensex was down by 29.22 points or 0.05 percent and closed at 58250.26 while Nifty fell 8.60 points or 0.05 percent and finished at 17353.50 levels. The Bank Nifty spot price gained 299.40 points or 0.82 percent and ended at 36768.20 levels.
The broader markets outperformed the benchmark indices today. The Nifty midcap index gained 150.55 points or 0.52 percent and closed at 29255.55 levels. The Nifty smallcap index was up by 68.80 points or 0.65 percent and ended at 10619.30 levels.
The top five gainers in the Nifty50 index are Kotak Bank, Power Grid, Grasim, BPCL, and Coal India. The top five losers in the Nifty50 index were Divis Lab, Nestle India, Wipro, SBI Life, and Hindalco. The most active stocks in terms of value were Kotak Bank, Reliance, and TCS. the most active stocks in terms of volume were SBI, Bharti Airtel, and Power Grid.
On a sectoral front, the fintech sector remained in focus, as Minister of State for Finance Bhagwat K Karad said governments’ various initiatives have led to fast growth in the fintech sector, which is likely to triple to Rs 620700 crore in value terms by 2025
The sectors like Banking, Consumer Durables, Insurance, Metals, and Power were closed higher today. The sectors that closed in the red were IT & Software, Telecom, Automobiles, Oil & gas, and FMCG.
Nifty & Nifty Bank share price movement in Futures for 8 Sept (Sept Expiry)
The Nifty futures share price opened at 17397.90 and made a positive opening of 22.1 points. It has touched an intraday high at 17401.10 and a day’s low at 17276.25
The Nifty futures share price has given a movement of 124.85 points today. In the end, it was up by 10.45 points or 0.06 percent and ended at 17386.25 levels.
The Bank Nifty futures share price opened at 36619. It made a positive opening of 33.05 points today. It has touched an intraday high at 36946 and a day’s low at 36502
During the day, the Bank Nifty in futures share price has given a movement of 444 points. In the end, it closed higher by 359.05 points or 0.98 points and closed at 36945 levels
Nifty & Bank Nifty share price target, 9 Sept 2021 (Sept Expiry)
Nifty Futures Share Price Target for Tomorrow, 9 Sept 2021
Primary Nifty Trend in futures: Positive
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 17430 whereas All Down Moves Initiates Short Covering (Buy) @ 17300
If the Nifty futures share price Moves Above 17408 and sustain. Then you should Buy with 1st Target of 17428 during the day with a Stop Loss of 17345 FOR the Target of 17428-17449- 17467
If the Nifty futures share price Moves Below 17345 and is sustained. Then you should Sell with the 1st Target of 17318 during the day with a Stop Loss of 17408. FOR the Target of 17318- 17290-17265
Bank Nifty Futures Share Price Target for Tomorrow, 9 Sept 2021
Primary Trend of Bank Nifty Futures: Positive
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 37100, whereas All Down Moves Initiates Short Covering (Buy) @ 36650
Suppose the Bank Nifty share price in futures Moves Above 37097 and sustain, then you should Buy with the 1st Target of 37175 during the day with a Stop Loss of 36795. FOR the Target of 37175 – 37285 – 37470
If the Bank Nifty share price in futures Moves Below 36795 and sustain, then you should Sell with the 1st Target of 36720 during the day with a Stop Loss of 37097. FOR the Target of 36720 – 36640 – 36515
Global markets today
On the global front, Asian markets mostly closed in the red on Wednesday following the negative cues from Wall Street overnight. European markets are trading lower following negative cues from the US overnight and losses in the Asian markets. The US futures index, Dow, and Nasdaq futures are trading marginally lower at this moment at 4.30 pm IST
Conclusions
Indian benchmark indices closed on flat notes amid the volatile trading session. The midcap and smallcap indexes outperformed the benchmark indices today. The global cues were not supportive today. The financial sectors tried to lift the markets but selling pressure in IT and auto counter closed the market on a flat note.
We have started a new section ‘ Market Live Today’ you can visit this page during the market hour for live trading calls and updates.
Also read, Intraday Trading books to make money from Stock Markets
Share Market Books in Hindi | शेयर मार्किट हिन्दी बुक्स
If you like the post please share it with your friends and others
Happy Investing!
Editor’s Desk
Disclaimer-
Nifty50Stocks.com has taken due care and caution to compile the data for its Website. The views and investment tips expressed by investment experts on Nifty50Stocks.com are their own and for educational purposes. Nifty50Stocks.com is not SEBI registered Advisors. Nifty50stocks.com advises its users to check with certified and SEBI registered experts before taking any investment decision. However, Nifty50Stocks.com does not guarantee the accuracy, adequacy, or completeness of any information. Nifty50stocks.com is not responsible for any errors or omissions or the results obtained from the use of such information. Nifty50Stocks.com especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
